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Tax Levy, Tax Capacity, and Tax Impact <br /> The proposed tax levy for 2003 is $9,070,055, an increase of $147,171 or 1.65%. <br /> The following table summarizes the proposed 2003 tax levy. <br /> General Fund $ 599839472 692459700 $262,228 4 . 3 8 % <br /> Parks & Recreation 410,375 6541355 2431980 59.45 % <br /> Parks Maintenance 731.016 585.000 Q46.0161 19.9 °Ns <br /> Parkk Improvements 2500ft 25 OOO I - % <br /> Pathways Maintenance 137901DO 135.900 (2,000) (1.46) % <br /> Pathwa s Construction 12500 10000 (25,000) (20.00) % <br /> Streetscane Imnrovements 259M 25-vOOO -% <br /> General Vehicle Replacement 1821200 1751000 71200) (3.95) % <br /> General Debt Service 1,078,821 8001000 278,821) (25.84) % <br /> Contin enc 100 000 10000 NIA <br /> Total $ 899229884 $ 99070,055 $ 1471171 1.65 % <br /> The Citywide tax capacity represents the taxable value within the City. It is determined by <br /> applying the State-wide property tax formula for each parcel, then adding each parcel's tax <br /> capacity. The citywide tax capacity is then applied to the proposed levy to determine the local <br /> tax rate. <br /> The following table summarizes the local tax rate. <br /> Gross Net Tax CMacity 363,907,781 4098969426 <br /> Less Fiscal Dis arities 5,724,011 (695211,981) <br /> Less Tax Increment Value 3,1 08,465) (2,5069277) <br /> Net Tax Capacity for Levy 2870757305 3138681,168 <br /> Net Tax Levy 89258,216 894007055 <br /> Local Tax Rate 29.414 % 26.310 % <br /> * Less fiscal disparity distribution. <br /> To determine an individual property's tax, the local tax rate is applied to the property's net tax <br /> capacity. <br /> 10 <br />