§ 38-6. Formula for calculation of assessment.

The assessment of benefits according to the criteria set forth in section 38-5 shall be made in accordance with the following formula so that each of the four (4) elements is given a weight of twenty-five (25) percent in each owner's assessment of benefits vis-à-vis other properties subject to assessment under this division. Each owner's assessment shall represent a portion of the total cost of the project in question.

(1)

Area of lot or parcel to be assessed divided by total areas of lots, parcels or property subject to assessment hereunder and served by project equals ____.

(2)

Frontage of lot or parcel to be assessed divided by total frontage of parcels or lots or property subject to assessment hereunder and served by project equals ____.

(3)

Number of existing building units on lot or parcel to be assessed divided by total number of building units in area served by project equals ____.

(4)

Property valuation (latest grand list) for tax purposes of lot or parcel assessed divided by total property valuation (latest grand list) for tax purposes of all lots, parcels, buildings and improvements subject to assessment hereunder in area served by project equals ____.

(5)

Total of subsections (1) through (4) of this section inclusive above equals ____.

(6)

The total sum derived from subsection (5) of this section shall be divided by four (4) (or multiplied by twenty-five one hundredths (0.25)) to arrive at a multiplier to determine each owner's assessment when said multiplier is multiplied against the difference between the total cost of the public work or improvement in question and that portion of the cost of said project attributable to the benefit accruing to the public in general.

(Code 1961, § 2-143.6; Ord. No. 278, § F, 12-1-1981)