§ 48-269. Formula for calculation of assessment.

The assessment of benefits according to the criteria set forth in section 48-268 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-a-vis other properties subject to assessment under this division. Each owner's assessment shall represent a portion of the total cost of the sewer extension in question.

(1)

Area of lot or parcel to be assessed divided by total area of lots, parcels or property subject to assessment hereunder and sewered 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 sewered 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 sewered 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 sewered by project equals ..... _____;

(5)

Total of (1) through (4) inclusive above equals ..... _____;

(6)

The total sum derived from (5) above shall be divided by four (4) (or multiplied by 0.25) to arrive at a multiplier to determine each owner's assessment when said multiplier is multiplied against the total cost of the sewer extension in question.

(Code 1961, § 16-46; Ord. No. 237, § 1(o), 10-3-1978)