2019 Adppted Budget - Laserfiche WebLink

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SY: Abbreviation for square yard; which. is how sealcoating and street overlay projects. -are measured. TAXABLE MARKET VALUE:. That portion of a property's market value that is used to calculate property taxes. TAX CAPACITY- An amount. determined by a.percentage of a property's market value; which is than.applied to the tax rates oftaxing jurisdictions affecting the property to determine the.amount of property taxes owed. The current tax rates and property classifications. can be found on page 135, TAX CAPACITY RATE: Tax rate applied to tax capacity to generate property tax revenue. The rate is obtained by dividing the property tax levy by the available tax capacity. TAX CLASSIFICATION RATE: Rate at which estimated market. values are converted into the property tax.base. The classification rates are assigned to properties depending on their type (residential, commercial, farm, etc.) and, in some.cases there are two tiers of classification rates, with the rate increasing as the estimated market values increases. TAX INCREMENT FINANCING (TIF): Financing tool originally intended to combat severe blight in areas, which would not be redeveloped "but for" the availability of government subsidies derived from locally generated property tax revenues. TALC LEVY: The total amount to beraised by general property taxes for the purpose stated in the resolution certified to the county auditor,. TAX RATE: The amount applied to tax capacity to determine the taxes generated by the property, TAXES: Cornpulsory.charges levied by a governmental unit for the purpose of financing services performed for the common benefit. TRUST AND AGENCY FUNDS: Funds :used to account for assets held by a.government in a trust capacity or as an agent individuals, private organizations, other governments and/or other funds. TRUST FUND: A fund consisting of resources received and. held bythe governmental unit as trustee, to be expended or invested in accordance with the conditions of the trust, UNBALANCED BUDGET: A budget which undesignated fund balance or reserves are used in order to balance estimated revenues to estimated expenditures or expenses. UNRESERVED FUND BALANCE The portion of a fund's balance that is not restricted for specific purpose and is'available for general. appropriation. USER FEES: The payment of a charge for direct receipt of.a public service by the {tarty benefiting from the service. WORKLOAD INDICATOR: A unit. of work to. be done. 77