Opinion ID: 2495667
Heading Depth: 1
Heading Rank: 18

Heading: Expected amount of revenue to be received from taxes in the annexed area

Text: ¶ 44. The chancellor found that the calculations of income from ad valorem taxes may be speculative because of the miscalculations made by Horn Lake's municipal finance exert and possible reduction of assessed values within the next five years as a result of the current economic recession. Additionally, the chancellor anticipated that the revenues to the municipality from permit fees, privilege licenses, and sewer taps will be reduced because of the economy. The trial judge also considered the tremendous slowdown in the issuance of commercial and residential building permits within the last two years. ¶ 45. Based on the totality of the circumstances, the chancellor found that the indicium of the municipality's financial ability to make the improvements and furnish the municipal services promised weighed against annexation by Horn Lake. The chancellor's findings were supported by substantial, credible evidence, were well within his discretion, and were not manifestly wrong.