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Memo - City Council
<br />2017 Proposed Preliminary Budget and Tax Levy
<br />7
<br />7
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<br />11.5% Levy Increase ($400,839) Balanced budget as proposed
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<br />Actual Proposed %
<br />Item Pay 2016 Pay 2017 Change
<br />(A)(B)(C)
<br />1.Levy before reduction for state aids $3,478,775 $3,879,614 11.5%
<br />2.State Aids - $0 $0 0.0%
<br />3.Certifed Property Tax Levy = $3,478,775 $3,879,614 11.5%
<br />4.Fiscal Disparity Portion of Levy - $264,113 $290,710 10.1%
<br />5.Local Portion of Levy = $3,214,662 $3,588,904 11.6%
<br />6.Local Taxable Value ÷ 12,163,391 12,388,762 1.9%
<br />7.Local Tax Rate = 26.429%28.969%9.6%
<br />8.Market Value Referenda Levy $0 $0 0.0%
<br />9.Fiscal Disparity Portion of Levy (SDs only)- $0 $0 0.0%
<br />10.Local Levy = $0 $0 0.0%
<br />11.Referenda Market Value ÷ 1,144,235,400 1,174,488,300 2.6%
<br />12.Market Value Referenda Rate = 0.00000%0.00000%0.0%
<br />Taxable Taxing
<br />Market Homestead Taxable District
<br />Value Exclusion Market Tax Net
<br />B/4 Credit Credit Value Capacity Tax
<br />Proposed Pay 2017
<br />Pay 2013 MV 76,000@.40%500,000@1.0%(B7 x G) +
<br />X 0.988 - rem up to 413799 @.09%(D - E)rem @ 1.25%(B12 x D)Annual Increase Monthly incr.Annual Increase Monthly incr.Annual IncreaseMonthly incr.
<br />Estimated Tax District rate as % of total rate:
<br />150,000 23,740 126,260 1,263 $365.88 $40.54 3.38$ ($0.32)(1.19)$ $40.86 3.41$
<br />306,350 9,669 296,681 2,967 $859.51 $92.80 7.73$ ($3.18)(3.00)$ $95.98 8.00$
<br />350,000 5,740 344,260 3,443 $997.40 $107.54 8.96$ ($3.84)(3.56)$ $111.38 9.28$
<br />500,000 - 500,000 5,000 $1,448.45 $152.90 12.74$ ($8.85)(5.41)$ $161.75 13.48$
<br />750,000 - 750,000 8,125 $2,353.73 $255.00 21.25$ ($7.84)(8.27)$ $262.84 21.90$
<br />Total Change and Fiscal Disparities Impact from Levy Incr
<br />Impact from Market Shifts
<br />
<br />
<br />2.5% Levy (85,250) Increase which would keep the Tax Rate Flat
<br />
<br />Actual Proposed %
<br />Item Pay 2016 Pay 2017 Change
<br />(A)(B)(C)
<br />1.Levy before reduction for state aids $3,478,775 $3,564,025 2.5%
<br />2.State Aids - $0 $0 0.0%
<br />3.Certifed Property Tax Levy = $3,478,775 $3,564,025 2.5%
<br />4.Fiscal Disparity Portion of Levy - $264,113 $290,710 10.1%
<br />5.Local Portion of Levy = $3,214,662 $3,273,315 1.8%
<br />6.Local Taxable Value ÷ 12,163,391 12,388,762 1.9%
<br />7.Local Tax Rate = 26.429%26.422%-0.0%
<br />8.Market Value Referenda Levy $0 $0 0.0%
<br />9.Fiscal Disparity Portion of Levy (SDs only)- $0 $0 0.0%
<br />10.Local Levy = $0 $0 0.0%
<br />11.Referenda Market Value ÷ 1,144,235,400 1,174,488,300 2.6%
<br />12.Market Value Referenda Rate = 0.00000%0.00000%0.0%
<br />Taxable Taxing
<br />Market Homestead Taxable District
<br />Value Exclusion Market Tax Net
<br />B/4 Credit Credit Value Capacity Tax
<br />Proposed Pay 2017
<br />Pay 2013 MV 76,000@.40%500,000@1.0%(B7 x G) +
<br />X 0.988 - rem up to 413799 @.09%(D - E)rem @ 1.25%(B12 x D)Annual Increase Monthly incr.Annual Increase Monthly incr.Annual IncreaseMonthly incr.
<br />Estimated Tax District rate as % of total rate:
<br />150,000 23,740 126,260 1,263 $333.71 $8.37 0.70$ ($0.32)(1.19)$ $8.69 0.72$
<br />306,350 9,669 296,681 2,967 $783.94 $17.23 1.44$ ($3.18)(3.00)$ $20.41 1.70$
<br />350,000 5,740 344,260 3,443 $909.71 $19.85 1.65$ ($3.84)(3.56)$ $23.69 1.97$
<br />500,000 - 500,000 5,000 $1,321.10 $25.55 2.13$ ($8.85)(5.41)$ $34.40 2.87$
<br />750,000 - 750,000 8,125 $2,146.79 $48.06 4.01$ ($7.84)(8.27)$ $55.90 4.66$
<br />Total Change and Fiscal Disparities Impact from Levy Incr
<br />Impact from Market Shifts
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