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..L <br />"7 3 Properly Tax ImpaCL <br />"74 As noted above,, the combined total of the 2012 decision packages is $,643,000. The following chart depicts <br />"7 the monthly property tax impact on a median valued home in Roseville based on varying tax levy increases. <br />"7 6 <br />'7 "7 Monthly Property Tax Increase <br />"7 For a Median Valued Home <br />"7 9 <br />Current Amount $, 51.78 <br />Additional Levy.- <br />@ $,250,000 <br />1.00 <br />@ $3 fl <br />1.20 <br />@ $,400000 <br />1.60 <br />@ $5 fl <br />2.0O <br />@ $,600000 <br />2.4O <br />@ $700flOO <br />2.80 <br />@ $,800000 <br />3.20 <br />2 <br />As the table indicates a levy increase of $,250,000 will result in a monthly impact of $,I a $,500,000 <br />3 increase will result in an impact of $,2 per month, and so on. Under all of these property tax increase <br />,4 scenarios,, the City's local to rate would remain 25% - 26% below the average for peer communities in the <br />metro area. <br />These increases are necessary to fulfill the capital infrastructure goals and objectives identified in the <br />Imagine Roseville 2025 process and 20-Year Capital Investment Plan (CIP , as well as maintain the highly- <br />9 rated services identified in the 2011 Citizen Survey. Alternatively, the Council could choose instead to re- <br />90 DUrDose existing budget dollars that are assianed to on-acing Droarams and services- This action however- <br />9'i will reduce service levels. <br />92 <br />93 It should also be noted that the majority of the tax levy increases in the past 5 years were in response to a <br />94 decline in state aid interest earnings, and other non-tax revenues; as well as the desire to increase funding <br />9:w for capital replacements such as the arena refrigeration system, park and street improvements, and vehicles. <br />96 <br />97 Staff will be available at the Council meeting to address these decision packages in greater detail. <br />98 POLICY OBJECTIVE <br />99 Adopting a 2012 property tax increase is consistent with meeting the capital infrastructure goals and <br />1 objectives identified in the Imagine Roseville 2025 process and CIP, and will help ensure that the City <br />1 ('_) 1 maintains the high priority programs and services identified in the 2011 Citizen Survey. <br />11(.) ;2 FINANCIAL IMPACTS <br />1 ('_) 3 See above. <br />STAFF RECOMMENDATION <br />Not applicable. <br />Page 3 of 4 <br />