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<br /> . <br /> Page 3 <br /> Valuation Memo <br /> 3. Budaet Scenarios: <br /> a). obiective - Hold 1994 property tax increases to <br /> 2.99%. <br /> Irnoact - Reduce 1994 Expendures in absolute <br /> terms by $67,942 over 1993 expenditures (4.3%). <br /> Calculations: $1,590,000 * .0543 :{$86,337 <br /> less higher HACA -r (18.3951 <br /> .... $67.942 <br /> b) . Obiective - Freeze 1994 expenditures at 1993 <br /> levels (0% increase). <br /> Irnoact - Property taxes would increase at least <br /> 7.3%. <br /> Calculations: 4.3 + 2.99 = 7.3+ <br /> c) . Obiective - Increase 1994 expenditures by 2.99%. <br /> Irnoact - Property taxes would increase by at <br /> least 10.3%. .. <br /> . Calculations: 1,590,000 * .0299 = 47,541 3.0 <br /> + Net Capacity Shortfall 67.942 L.11 <br /> 115.483 10.3 <br /> ~ <br /> 1994 BUCGEI' OPI'IONS / ALTERNATIVES / S'l'RA'I'El3IES <br /> 1- 1994 Debt Service Levies could drop from $108,528 in 1993 to <br /> a nriILUmnn of $40,000 in 1994 (Aerial Platform Truck $13,932, <br /> Certificate of Indebtedness #1 $26,068). Is this potential <br /> drop of $68,528 an opportunity to contract spending due to <br /> decreasing revenues? Or are future capital expenditure <br /> needs (fire equipment, facility lease payments, etc...) so <br /> strong that maintaining or even increaSing debt levies is <br /> the most prudent action? <br /> 2. Is there a preference among Mayor or Council to focus on <br /> property tax percentage increases or on expenditure <br /> percentage increases? <br /> 3. Is there a story to tell that the City's commercial tax base <br /> is shrinking and, to deliver the same level of services, <br /> homeowners will be asked to pay a higher proportionate share <br /> than they have in the past? <br /> 4. How would significant expenditure reductions :impact <br /> accomplishment of long range goal objectives? <br /> . T.RP/sjl <br /> ----------- <br />