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400,000 <br />350,000 - <br />300,000 - <br />250,000 - <br />200,000 - <br />150,000 - <br />100,000 - <br />50,000 - <br />1998 <br />Property Tax <br />Assessed Valuation (in 1,000's) <br />1999 <br />2000 <br />2001 <br />2002 <br />Year of Valuation <br />Development <br />Commercial development is expected to remain slow during 2004. The total valuation of <br />development in 2004 is projected at $20,310,081. There are 3 single-family units projected to be <br />developed at an average valuation of approximately $300,000 (not including the cost of land). <br />60,900,000 <br />50,000,000 <br />40,000,000 <br />30,000,000 <br />20,000,000 <br />10,000,000 <br />New Development <br />1997 1998 1999 2000 2001 2002 2003 2004 <br />Projected Budget <br />®Commercial Valuation -.—Single Family Starts- <br />50 <br />45 <br />40 <br />35 <br />30 <br />25 <br />20 <br />15 <br />10 <br />5 <br />0 <br />ii <br />