|
Memo - City Council
<br />2015 Proposed Preliminary Budget and Tax Levy
<br />5
<br />
<br />2% Levy Increase (+ $64,000 in tax revenue)
<br />
<br />
<br />ActualProposed%
<br />ItemPay 2014Pay 2015Change
<br />(A)(B)(C)
<br />1.Levy before reduction for state aids$3,257,456$3,321,4562.0%
<br />2.State Aids- $0$00.0%
<br />3.Certifed Property Tax Levy= $3,257,456$3,321,4562.0%
<br />4.Fiscal Disparity Portion of Levy- $254,738$248,682-2.4%
<br />5.Local Portion of Levy= $3,002,718$3,072,7742.3%
<br />6.Local Taxable Value÷ 10,741,74911,425,9746.4%
<br />7.Local Tax Rate= 27.954%26.893%-3.8%
<br />8.Market Value Referenda Levy $0$00.0%
<br />9.Fiscal Disparity Portion of Levy (SDs only)- $0$00.0%
<br />10.Local Levy= $0$00.0%
<br />11.Referenda Market Value÷ 1,052,783,0001,119,584,1006.3%
<br />
<br />12.Market Value Referenda Rate= 0.00000%0.00000%0.0%
<br />
<br />(D)(E)(F)(G)(H)(I)
<br />TaxableTaxing
<br />MarketHomesteadTaxableDistrict
<br />ValueExclusionMarketTaxNet
<br />B/4 CreditCreditValueCapacityTax
<br />Proposed Pay 2015
<br />Impact from Market Shifts
<br />Pay 2013 MV76,000@.40%500,000@1.0%(B7 x G) +
<br />Total Changeand Fiscal DisparitiesImpact from Levy Incr
<br />X 0.988(D - E)rem @ 1.25%(B12 x D)
<br />Annual IncreaseMonthly incr.Annual IncreaseMonthly incr.Annual IncreaseMonthly incr.
<br /> - rem up to 413799 @.09%
<br />Estimated Tax District rate as % of total rate:
<br />150,000 23,740 126,2601,263$339.66$33.84$ 2.82$26.77$ 2.23$7.07$ 0.59
<br />295,100 10,681 284,4192,844$764.84$62.36$ 5.20$46.43$ 3.87$15.93$ 1.33
<br />350,000 5,740 344,2603,443$925.93$73.61$ 6.13$54.33$ 4.53$19.28$ 1.61
<br />500,000 - 500,0005,000$1,344.65$91.19$ 7.60$63.19$ 5.27$28.00$ 2.33
<br />
<br />750,000 - 750,0008,125$2,185.06$184.11$ 15.34$138.61$ 11.55$45.50$ 3.79
<br />
<br />3% Levy Increase (+ $97,000 in tax revenue)
<br />
<br />ActualProposed%
<br />ItemPay 2014Pay 2015Change
<br />(A)(B)(C)
<br />1.Levy before reduction for state aids$3,257,456$3,354,4563.0%
<br />2.State Aids- $0$00.0%
<br />3.Certifed Property Tax Levy= $3,257,456$3,354,4563.0%
<br />4.Fiscal Disparity Portion of Levy- $254,738$248,682-2.4%
<br />5.Local Portion of Levy= $3,002,718$3,105,7743.4%
<br />6.Local Taxable Value÷ 10,741,74911,425,9746.4%
<br />7.Local Tax Rate= 27.954%27.182%-2.8%
<br />8.Market Value Referenda Levy $0$00.0%
<br />9.Fiscal Disparity Portion of Levy (SDs only)- $0$00.0%
<br />10.Local Levy= $0$00.0%
<br />11.Referenda Market Value÷ 1,052,783,0001,119,584,1006.3%
<br />
<br />12.Market Value Referenda Rate= 0.00000%0.00000%0.0%
<br />
<br />(D)(E)(F)(G)(H)(I)
<br />TaxableTaxing
<br />MarketHomesteadTaxableDistrict
<br />ValueExclusionMarketTaxNet
<br />B/4 CreditCreditValueCapacityTax
<br />Proposed Pay 2015
<br />Impact from Market Shifts
<br />Pay 2013 MV76,000@.40%500,000@1.0%(B7 x G) +
<br />Total Changeand Fiscal DisparitiesImpact from Levy Incr
<br />X 0.988(D - E)rem @ 1.25%(B12 x D)
<br />Annual IncreaseMonthly incr.Annual IncreaseMonthly incr.Annual IncreaseMonthly incr.
<br /> - rem up to 413799 @.09%
<br />Estimated Tax District rate as % of total rate:
<br />150,000 23,740 126,2601,263$343.31$37.49$ 3.12$26.77$ 2.23$10.72$ 0.89
<br />295,100 10,681 284,4192,844$773.06$70.58$ 5.88$46.43$ 3.87$24.15$ 2.01
<br />350,000 5,740 344,2603,443$935.88$83.56$ 6.96$54.33$ 4.53$29.23$ 2.44
<br />500,000 - 500,0005,000$1,359.10$105.64$ 8.80$63.19$ 5.27$42.45$ 3.54
<br />
<br />750,000 - 750,0008,125$2,208.54$207.59$ 17.30$138.61$ 11.55$68.98$ 5.75
<br />
|