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REQUEST FOR COUNCIL, AC1TION DATE: 8/25/86
<br />ITEM NO.:
<br />Department Approval-. Manager Reviewed*. Agenda Section.
<br />1A, Reports and Recommendat 'ions
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<br />rt,em Descri"ption. Introduction of the Proposed 1987 Budget.
<br />In compliance with State Statutes requiring local government budgets
<br />to be certified to the County by October 104, the 1987 Proposed Budget
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<br />,is, being preiisenteid at this t 'mime The proposed budget is now available
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<br />for public inspection.
<br />The following is a brief' overview of the 1987 Budget;
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<br />Estimated, Assessed Valuation.
<br />The estimated, assessed valuation for 1987,, as of June 24,, 1986(j,
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<br />$336176OF530101 This is a decrease ♦ $2,034,714 from the 1986
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<br />valuation,,
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<br />The reduction in assessedvaluation i,s due to two ma3or itemsE
<br />A,., The method of calculating the a,ssiesseld valuation of residential
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<br />property has been, cihan,iged, resulting 'in a $2,083,216 reduction in
<br />resilde7ttial assessed valuation.,
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<br />B4 There is a treind, among owners of commercial and "industrial
<br />property,, to apply for reevaluation of their properties. Many
<br />have been successful in obtaining reductions in assessed-
<br />valuationis. The reductions have offsiet a portion of the increases
<br />due to new devielopment.
<br />Expeniditures,,i Levies, and Mill Rate:
<br />'The total, budget for 1987 is $13,992,971. This is an increase of
<br />1$749,824, or 5,6 6, percent over 1986. Tax levy requirements to fl-nance
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<br />this budget are $4,7881,813, for an 'increase or $-201,677, or 4.39
<br />percent .
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<br />Based,on the estimated assessed valuation and the levy requirements.
<br />the mill rate of 1987 will be 14-22, mills, compared to 13,58 mills in
<br />19864
<br />Taxes,:
<br />The 1987 Budget will, cause a 4,8 percent 'increase in the taxes of an
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<br />average home 'in Roseville. The affect on a $100,000 home is a 2,6
<br />percent 'increase because a change in the method of calculating
<br />assessed value has beinelifitted higher valued homes.,.
<br />A summary of amendments, made to the,, Proposed 1987 Budget since the
<br />August 1,8, 11986 Council Work Session,, 'i's attached.
<br />it, is recommended aiction, on the 1987 Budget be continued to the
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<br />[r-egular Council, meeting of September 81, 19860
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<br />COUNCIL ACTION REQUESTED:
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<br />Motion, continuing action on- the 198,71 Budget to the regular Council
<br />meeitingi of September 8, 19860
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