The annexations — dubbed Colonial Heights Area 7, Parts C and D — include property in the western quadrant of the Fort Henry Drive/Interstate 81 intersection. The matter will likely go before the Board of Mayor and Aldermen for two readings in October, and if approved, come into the city in late November.
The BMA approved Parts A and B last month, which included 220 acres and approximately 375 residents. That property officially became a part of the city on Friday. A fifth part — E — is scheduled to come before the Planning Commission next month.
According to the city’s planning department, Part C includes approximately 48 acres with 175 residents and 4,180 feet of streets including sections of Oakmont Drive, Belle Forest Court and Heatherview Court. Part D is approximately 35 acres with 133 residents and 4,100 feet of streets including portions of Centerbrook Circle, Meadow Lane and Sandpiper Circle.
Both annexations affect approximately 49 students — 20 elementary, 11 middle and 18 high school. Which system they choose to go to would be up to their parents or guardians.
The average property owner in Part C will see $953 in city property taxes, while those in Part D will see a $907 tax bill from the Model City. As for savings on water and sewer rates and by not having a separate garbage collection fee, residents in Parts C and D could see a yearly savings of $536 and $547, respectively.
One-time costs associated with the two annexations come to nearly $2.2 million, with just over $2 million dealing with sewer line upgrades for the properties. The estimated cost to sewer all five areas (A through E) is $6.23 million.
Recurring costs associated with the annexation come to $65,360, mostly streets and sanitation expenses.
Kingsport will receive $115,600 in taxes each year from the properties, while one-time revenues (sewer tap fees) amount to $253,500. Excluding sewer tap fees, it will take at least 19 years for the current property taxes collected to equal the amount of money Kingsport plans to spend on the annexations.