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to help cover future costs. For 2024 this amount is $40,000 and has been included in the levy <br />recommendations. It can be found in the public safety capital levy. <br />Revenues <br />There are no significant projects included in the 2024 budget which would affect the permit <br />revenue. The permit revenue included reflects only the estimated recurring "base" amount plus <br />50% of the average of major projects over the past 10 years, similar to what was included in the <br />2023 budget. <br />Property Tax Levy <br />A survey was recently routed to various cities in the metro asking about proposed levy amounts <br />being considered. Below are the results of that survey. <br />Vadnais Heights <br />16.95% <br />New Brighton <br />9 - 9.8% <br />Roseville <br />8.99% <br />White Bear Township <br />7.77% <br />North St. Paul <br />7.67% <br />Little Canada <br />7.21 % <br />Maplewood <br />7.00% <br />Mounds View <br />6.50% <br />Falcon Heights <br />5 - 7% <br />St. Anthony <br />5.80% <br />St. Paul <br />3.70% <br />Spring Lake Park <br />3.50% <br />Based on the 2023 County Assessor's Report, values for the different property types have changed <br />as follows: <br />All Residential <br />5.43% <br />Single Family Residential <br />5.74% <br />Apartments <br />159.49% <br />Commercial <br />12.13% <br />Industrial <br />29.85% <br />The total Value for Local Rate for the city is projected to increase by 10.5%, from 18,337,217 to <br />20,259,379. Total residential values are increasing by less than the total taxable value for the City. <br />Apartments, commercial and industrial properties are picking up a bigger share of the tax increase. <br />Below are tables showing the impact of various levels of a city levy increase to Arden Hills' homes <br />assuming that a home's value is increasing by 5.74%, which is the median amount. Staff s <br />recommendation would be to set a preliminary levy of at least 12.55%, this would leave a General <br />Fund budgeted deficit in 2024 of approximately $101,000. Historically, the City has done better <br />than expected with the budget, and for many years has had a budgeted deficit but still comes for <br />the better at the end of the year. If Council wanted to keep the same level of General Fund deficit <br />as 2023 ($160,000), that would equate to an approximate 11.30% increase in the tax levy (reference <br />the 11.0% increase table for approximate numbers). Council may want to consider a higher levy as <br />we still have a few unknowns, such as, Union negotiations and final insurance rates. If Council <br />goes for a levy lower than 12.55%, it should identify whether or not it wants to have the <br />recommended $40,000 go into Public Safety Capital funding for the future fire department <br />positions, if so, it will need to remove that $40,000 from the General Fund portion of the levy. <br />Page 3 of 6 <br />