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2004 Proposed Budget and Tax Levy <br />Based on Council's direction, Staff has submitted an overall proposed budget in the amount of <br />$35,172,120. The combined budget for the tax- supported programs is $14,297,970. The <br />Proposed Budget in the tax-supported programs maintains a zero- increase in funding, except for <br />the costs directly attributable to the voter - approved referendum. The City Manager <br />recommended reducing the proposed budget for the tax- supported programs by $350,000, or <br />ore -half of the loss in state -aid. with the City Manager's recommendation, the Proposed Budget <br />for the tax - supported programs would be $13,947,970. <br />The 2004 Proposed tax levy is as fellows: <br />As referenced above, the increase in tax levy is attributable to the voter - approved new facility <br />costs. <br />Taxpayer Impact <br />Based on the proposed budget (not including the City Manager's recommendation), the <br />following table depicts the impact on taxpayers, assuming their property increases in value by <br />10 %. <br />* original value shown. 2004 Impact reflects a 10% vaWation increase. <br />As depicted above, approximately 10% of the increase is attributable to the increase in property <br />value, and 3% is of the increase is attributable to the voter - approved facility additions. <br />a <br />