HomeMy WebLinkAboutExhibit CEXHIBIT C: ASSESSMENT METHODOLOGIES BY CATEGORIES
ANNUAL ASSESSMENT RATE YEARS 11-20
Year Eleven Rate/Sq. Ft.
Properties
Retail/Restaurant' $ 0.36
Office' $ 0.36
Major Properties (In excess of 200,000 Sq. Ft, not
including parking)
CocoWalk
Retail/Restaurant/Office' $ 0.36
Parking $ 0.06
Other Adjusted Square Footage' $ 0.36
75% Cap of Total CocoWalk Assessment
Mayfair
Retail/Restaurant' $ 0.36
Office' $ 0.36
Parking $ 0.06
Other Adjusted Square Footage' $ 0.36
75% Cap of Total Mayfair Assessment
Parking (with bldg.)2 $ 0.06
Parking (without bldg.)3 $ 0.17
Bayshore Office Bldgs. $ 0.17
Hotels4
Flat Rate
$ 12,000.00
Assessment Footnotes
1. There shall be a gradual increase of one cent ($0.01) each year in the categories of retail, restaurant, office, and related adjusted square
footage assessments. Year 11: $0.36, Year 12: $0.37, Year 13: $0.38, Year 14: $0.39, Year 15: $0.40, Year 16: $0.41, Year 17: $0.42,
Year 18: $0.43, Year 19: $0.44, Year 20: $0.45.
2. Parking lots and garages attached to assessed buildings in the same folio shall be assessed at an annual rate of six cents ($0.06) per
square foot.
3. Parking lots and garages standing alone in a folio shall be assessed at an annual rate of seventeen cents ($0.17) per square foot.
4. Excepting five (5) hotels (The Ritz -Carlton Coconut Grove, The Mayfair Hotel & Spa, The Mutiny Hotel, The Sonesta Bayfront Hotel,
and The Commodore Inn) hotels will be assessed at a flat rate of twelve thousand dollars ($12,000.00) annually. It is entirely at the
discretion of the hotel whether it wishes to pass the cost of the assessment through to its guests as a Business Improvement District Fee .
However, this fee cannot be described as a tax.