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<br /> Memo - City Council
<br /> 2013 Proposed Final Budget and Tax Levy
<br /> 3
<br /> Actual Proposed %
<br /> Item Pay 2012 Pay 2013 Change
<br /> A B 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 /> l
<br /> 6. Local Taxable Value - 11,097,287 10,597,521 -4.5%
<br /> 7. Local Tax Rate = 25.544% 26.952% 5.5%
<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 - 1,074,744,200 1,033,491,700 -3.8%
<br /> 12. Market Value Referenda Rate = 0.00000%1 0.00000% 0.0%
<br /> D E F G H I
<br /> Taxable Taxing
<br /> Market Homestead Taxable District
<br /> Value Exclusion Market Tax Net
<br /> B/4 Credit Credit Value CaEacity Tax
<br /> Proposed Pay 2013 Impact from Market Shifts
<br /> Pay 2013 MV 76,000 @.40% 500,000 @t0% !B7 x G)+ Total Change and Fiscal Disparities
<br /> X0.988 �uproaS-I..ee (D-E) rem @1.25% 11 (812x D) Annual Increase Monthly incr. Annual Increase Monthly incr.
<br /> Estimated Tax District rate as%of total rate: N/A -
<br /> 150,000 23,740 126,260 1,263 $340.40 IE.25 $ 0.60 $7.25 $ 0.60
<br /> 257,400 14,074 243,326 2,433 $655.74 $8.66 $ 0.72 $8.66 $ 0.72
<br /> 350,000 5,740 344,260 3,443 $927.96 ($9.50) $ (0.79) ($9.50) $ (0.79)
<br /> 500,000 500,000 5,000 $1 347.60 ($25.13) $ (2.09) ($25.13) $ (2.09)
<br /> 750,000 750,000 8,125 $2 189.85 ($28.65) $ (2.39) ($28.65) $ (2.39)
<br /> With a 3.0% increase to the levy, the impacts look like this:
<br /> Actual Proposed %
<br /> Item Pay 2012 Pay 2013 Change
<br /> A B (C
<br /> 1. Levv before reduction for state aids $3,096.994 $3,191,230 3.0%
<br /> 2. State Aids $0 $0 0.0%
<br /> 3. Certifed Property Tax Le = $3,096,994 $3,191,230 3.0%
<br /> 4. Fiscal Disparity Portion of Le $262,344 $240,789 -8.2%
<br /> 5. Local Portion of Le = $2,834,650 $2,950,441 4.1%
<br /> 6. Local Taxable Value - 11,097,287 10,597,521 -4.5%
<br /> 7. Local Tax Rate = 25.544% 27.841% 9.0%
<br /> 8. Market Value Referenda Le $0 $0 0.0%
<br /> 9. Fiscal Disparity Portion of Le SDs on $0 $0 0.0%
<br /> 10. Local Le = $0 $0 0.0%
<br /> 11. Referenda Market Value - 1,074,744,200 1,033,491,700 -3.8%
<br /> 12. Market Value Referenda Rate = 0.00000%1 0.00000% 0.0e/u
<br /> D E F G H I
<br /> Taxable Taxing
<br /> Market Homestead Taxable District
<br /> Value Exclusion Market Tax Net
<br /> 24 Credit Credit I Value capacity Tax
<br /> Impact from Market shifts
<br /> Pay 2013 MV 776.000@.40%1. (B7 x G)+ and Fiscal Disparities Impact from Ley Incr Ttal Charge
<br /> X0.988 (1312 x D) gnnual Increase MOr1IhIV Incr. Annual Increase Monthly incr.Annual Increase MonMiv incr.
<br /> Estimated Tax District rate as%of total rate: WA
<br /> 150,000 23,740 126,260 1,263 $351.63 $7.25 $ 0.60 $11.23 $ 0.94 1 $3.98 $ 0.33
<br /> 257,400 14,074 243,326 2,433 $677.37 $8.66 $ 0.72 $21.63 $ 1.80 1 512.97 $ 1.08
<br /> 350,000 5.740 344,260 3,443 $958.57 1 ($9.50) $ (0.79) $30.61 $ 2.551 $21.11 $ 1.76
<br /> 500,000 - 500.000 5,000 $1 392.05 ($25.13) $ (2.09) $44.45 $ 3.70 $19.32 $ 1.61
<br /> 750 000 750.000 8,125 $2 262.08 ($28.65) $ (2.39) $72.23 $ 6.02 $43.58 $ 3.63
<br /> -5 -
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