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Memo - City Council
<br /> 2013 Proposed Preliminary Budget and Tax Levy
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<br /> kem Pay*012 kPay 2Q13 Charrg9
<br /> A : iBP " C
<br /> 1. Levy before reduction for state aids $3,096,994 $3,096,994 0.0%
<br /> 2. State Aids 0 0 0.0%
<br /> 3. Certifed Property Tax Le = $3,096,994 $3,096,994 0.0%
<br /> 4. Fiscal Disparity Portion of Le $262,344 $240,789 -8.2%
<br /> 5. Local Portion of Le = $2,834,650 $2,856,205 0.8%
<br /> 6. Local Taxable Value + 11,097,287 10,608,032 -4.4%
<br /> 7. Local Tax Rate = 25.54416 26.925%, 5.4%
<br /> 8. Market Value Referenda Le $0 $0 0.0%
<br /> 9. Fiscal Disparity Portion of Le SDs only) $0 $0 0.0%
<br /> 10. Local Le = 0 $0 0.0%
<br /> 11. Referenda Market Value + 1 074744 200 1,033,972,000 -3.8%
<br /> 12. Market Value Referenda Rate = 0.00000% 0.00000*/ 0.0%
<br /> D E F G H I
<br /> sTtitCable � �:_,t; " � Taxing,t
<br /> Market Tliornestead Taxab� Cllstricl '
<br /> Vale Exelasfp Nfarket Tax [ Net
<br /> Bi4Credit Credk":n VBtue CaDac1tv
<br /> - •� iPro° P .� .; Impact from Market Shifts
<br /> Pay 2013 MV 76,000 @.40% 500,Doo@1.0% (137 x G)+ Total Change and Fiscal Disparities
<br /> X0.988 mup.4n799Q.o9 (D-E) rem C 1.25% (812 x D) Annual Increase Monthly incr. Annual Increase Monthly incr.
<br /> Estimated Tax District rate as%oftotal rate: WA
<br /> 150,000 23,740 126,260 1,263 $340.06 $7.59 $ 0.63 $7.59 $ 0.63
<br /> 257,400 14,074 243,326 2,433 $655.09 $9.31 $ 0.78 $9.31 $ 0.78
<br /> 350,000 5,740 344,260 3,443 $927.03 ($10.43) $ (0.87) ($10.43) $ (0.87)
<br /> 500,000 500,000 5,000 $1 346.25 ($26.48) $ (2.21) ($26.48) $ (2.21)
<br /> 750.000 750,000 8,125 $2,187.66 ($30.84) $ (2.57) ($30.84) $ (2.57)
<br /> You will see that the City's share of Fiscal Disparities has decreased, as well as the City's Tax
<br /> Capacity (line 6), which results in a 5.4% increase in the tax rate.
<br /> Fiscal Disparities runs on a one year lag and is based on the levy amounts that jurisdictions
<br /> submitted for 2012 (or last year). Jurisdictions who increased their levies will receive more,
<br /> while those that kept their levies flat or fairly small will see decreases. The effects of the Market
<br /> Value Exclusion from last year are also seen in this year's Fiscal Disparities numbers for the first
<br /> time.
<br /> RECAP OF RAMSEY COUNTY FINANCE DIRECTORS MEETING
<br /> On August 15, 2012, Ramsey County held a meeting with its Finance Directors from all taxing
<br /> districts. At this meeting it was noted that rising levy rates helped to offset some of the
<br /> decreased fiscal disparities for various districts. In our case this will helps the county, school
<br /> district, and city portions of your tax payer's bill.
<br /> The Assessor is optimistic that Pay 2012 values can hold steady this next year. As previously
<br /> stated, while this year's loss has been the largest loss in residential values, the markets are now
<br /> stabilizing and foreclosures are lower in percent than they have been in many years.
<br /> There has been a significant recovery in the commercial markets since the 2009 low. The
<br /> biggest value loss county-wide was seen in Apartments which is why Arden Hills has not been
<br /> affected as much as other cities.
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