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Memo - City Council
<br />2018 Proposed Preliminary Budget and Tax Levy
<br />6
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<br />Household Example
<br />
<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 2018
<br />Pay 2018 MV 76,000@.40%(B7 x G) +
<br />X 0.988 - rem up to 413799 @.09%(D - E)(B12 x D)Annual Increase Monthly incr.Annual Increase Monthly incr.Annual Increase Monthly incr.
<br />Estimated Tax District rate as % of total rate:
<br />150,000 23,740 126,260 1,263 $315.30 $7.80 0.65$ ($2.25)($0.19)$10.05 0.84$
<br />333,800 7,198 326,602 3,266 $815.32 $7.49 0.62$ ($18.47)($1.54)$25.96 2.16$
<br />350,000 5,740 344,260 3,443 $859.51 $7.59 0.63$ ($19.78)($1.65)$27.37 2.28$
<br />500,000 - 500,000 5,000 $1,248.20 ($0.47)(0.04)$ ($40.22)($3.35)$39.75 3.31$
<br />750,000 - 750,000 8,125 $2,028.33 $25.38 2.11$ ($39.22)($3.27)$64.60 5.38$
<br />Impact from Market Shifts
<br />Calculated
<br />annual tax
<br />Total Change and Fiscal Disparities Impact from Levy Incr
<br />
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<br />5.0% Levy Increase ($182,065)
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<br />Overall City Impact
<br />
<br />Actual Proposed %
<br />Item Pay 2017 Pay 2018 Change
<br />(A)(B)(C)
<br />1.Levy before reduction for state aids $3,641,290 $3,823,355 5.0%
<br />2.State Aids - $0 $0 0.0%
<br />3.Certifed Property Tax Levy = $3,641,290 $3,823,355 5.0%
<br />4.Fiscal Disparity Portion of Levy - $290,710 $320,003 10.1%
<br />5.Local Portion of Levy = $3,350,580 $3,503,352 4.6%
<br />6.Local Taxable Value ÷ 12,388,762 13,741,736 10.9%
<br />7.Local Tax Rate = 27.045%25.494%-5.7%
<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 ÷ 1,174,488,300 1,266,285,800 7.8%
<br />12.Market Value Referenda Rate = 0.00000%0.00000%0.0%
<br />Household Example
<br />
<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 2018
<br />Pay 2018 MV 76,000@.40%(B7 x G) +
<br />X 0.988 - rem up to 413799 @.09%(D - E)(B12 x D)Annual Increase Monthly incr.Annual Increase Monthly incr.Annual Increase Monthly incr.
<br />Estimated Tax District rate as % of total rate:
<br />150,000 23,740 126,260 1,263 $321.99 $14.49 1.21$ ($2.25)($0.19)$16.74 1.40$
<br />333,800 7,198 326,602 3,266 $832.63 $24.80 2.07$ ($18.47)($1.54)$43.27 3.61$
<br />350,000 5,740 344,260 3,443 $877.76 $25.84 2.15$ ($19.78)($1.65)$45.62 3.80$
<br />500,000 - 500,000 5,000 $1,274.70 $26.03 2.17$ ($40.22)($3.35)$66.25 5.52$
<br />750,000 - 750,000 8,125 $2,071.39 $68.44 5.70$ ($39.22)($3.27)$107.66 8.97$
<br />Impact from Market Shifts
<br />Calculated
<br />annual tax
<br />Total Change and Fiscal Disparities Impact from Levy Incr
<br />
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