value capture analysis, which includes parcels within half a mile from the center of the Stitch. Current Property Assessed Value
Residential (assessable)
$300 million
Non-residential
$1.7 billion
TOTAL Assessable
$2 billion
To calculate the value premium due to open space, the project team assumed a 15 percent increase for properties within 1/4 mile from the center of the Stitch and a 7.5 percent increase for properties within 1/2 mile (but outside of 1/4 mile) from the center of the Stitch. The value of redevelopment projects is estimated using comparable market data. The redevelopment will be constructed in phases through 2044 according to the estimated timeline. Estimated Assessed Value of Redevelopment (in 2024 dollars)
Residential (assessable)
$1.7 billion
Non-residential
$89 million
TOTAL Assessable
$1.8 billion
To calculate City and County property tax revenue, the project team used the 2024 blended millage rate of 40.940 according to the Fulton County Tax Commissioner’s Office. The project team assumed an inflation rate at 3 percent across the analysis.
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