Laserfiche WebLink
City Revenue NeedTransition Factors <br />The formula provides for a transition <br />City revenue need is defined inthree separate <br />mechanism for cities between the three need <br />calculations based on population. <br />formulas. <br />Small Cities <br />Small to Medium Cities <br />The formula for cities with a population less <br />For cities with a population of at least 2,500 <br />than 2,500(small cities)is: <br />but less than 3,000 the city revenue need is <br />equal to (1) the transition factor times the <br />1)410 + (.367 X Population over 100)+ <br />Sparsity Adjustment <br />medium city revenue need, plus (2) 630 times <br />the difference between one and the transition <br />The city revenue need for cities with a population less <br />factor. <br />than2,500 cannot be over $630 per capita.For cities <br />with a sparsity adjustment, the city revenue need <br />For the purposes of revenue need the <br />cannot be over $830 per capita. <br />transition factor is .2 percent times the <br />Medium CitiesMedium Cities <br />minimum of its size threshold. <br />The formula for cities with a population The formula for cities with a population <br />between 2between 2,500 and 10,000 (medium cities) is:,500 and 10,000 (medium cities) is: <br />Medium to Large Cities <br />For cities with a population of at least 10,000 <br />1.15 multiplied by the sum of:1.15 multiplied by the sum of: <br />but less than 11,000 the city revenue needis <br />1)1)PrePre--11994040HousingHousingPPeerrcentage centage XX 5.0265.026 <br />equal to (1) the transition factor times the <br />2)2)Minus Household Size Minus Household Size XX 53.76853.768 <br />large city revenue need, plus (2) the medium <br />3)3)Peak Population Decline Peak Population Decline X 14.022X 14.022 <br />city revenue need times the difference <br />4)4)Lines 1Lines 1--4 + 572.624 + 572.62 <br />between one and thetransition factor. <br />5)5)Plus the Plus the Sparsity AdjustmentSparsity Adjustment <br />For the purposes of revenue need the <br />Large Cities <br />transition factor is .1percent times the <br />The expenditure formula for cities with a <br />population of 10,000 or more (large cities) <br />minimum of its size threshold. <br />includes the following variables multiplied by <br />the respective coefficients: <br />1.15 multiplied by the sum of: <br />Unmet Need <br />1)Pre-1940HousingPercentage X 4.59 <br />2)Housing 1940-1970 Percentage X .622 <br /> <br />ƓƒĻƷ ƓĻĻķ źƭ ƷŷĻ ķźŅŅĻƩĻƓĭĻ ĬĻƷǞĻĻƓ ΛЊΜ źƷƭ <br />3)Jobs per capita X 169.415 <br />ĭźƷǤ ƩĻǝĻƓǒĻ ƓĻĻķ ƒǒƌƷźƦƌźĻķ ĬǤ źƷƭ ƦƚƦǒƌğƷźƚƓͲ <br />4)Sparsity Adjustment <br />ğƓķ ΛЋΜ źƷƭ ĭźƷǤ ƓĻƷ Ʒğǣ ĭğƦğĭźƷǤ ƒǒƌƷźƦƌźĻķ ĬǤ ƷŷĻ <br />5)Lines 1-4 + 307.664 <br />Ʒğǣ ĻŅŅƚƩƷ ƩğƷĻ͵ <br />2Minnesota Revenue, Property Tax Division 07/2022 <br /> <br />