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Memo - City Council
<br /> 2013 Proposed Final Budget and Tax Levy
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<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 /> B C
<br /> 1. Levy before reduction for state aids $3,096,994 $3,191,230 3.0%
<br /> 2. State Aids $0 $0 0.0%
<br /> 3. Certified Property Tax Le = $3,096,994 $3,191,230 3.0%
<br /> 4. Fiscal Disparity Porton 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% 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 capacity Tax
<br /> 'Pf Pay 2013 Impact tom Market Shifts
<br /> Pay 2013 MV . 76 0000.40% 500,000@1.0% (67 x G)+ and Fiscal Disparities Impact tom Levy Inc, Total Change
<br /> X0.988 m pt,4Z799a09 (D-E) rem 01.25% (B12x D) Annual Increase Monthly incr. Annual Increase Monthly incr. Annual Increase Monthly 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 $3.98 $ 0.33
<br /> 257,400 14,074 243,326 2,433 $677.37 $8.66 $ 0.72 $21.63 $ 1.80 12.97 $ 1.08
<br /> 350,000 5,740 344,260 3,443 958.57 ($9.50) $ (0.79) $30.61 $ 2.55 21.11 $ 1.76
<br /> 500,000 500,000 5000 $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 $ 3.63
<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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