2011-08-02_PR_Packet - Laserfiche WebLink

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1,,,,,,,,,,,„ Property Tax Levy 8,,� The 2012-2013 Recommended Property Tax levy along with a comparison to 2011 is as follows: �,2 83 2012-2013 Property Tax Levy 8 111-112 112-113 Division 2011 I 1 • I 1 • General Fund $ 10,339,120 $ 10,180,776 $ 10,486,409 Replace Lost MVHC 47500 47500 47500 New Capital Replacements - 878,635 878,635 Park Programs 964,319 903,429 92500 Park Maintenance 96405 1,007,204 1,03000 Park Improvements 18500 4000 4000 Pathway Maintenance 15000 9300 9300 Boulevard Landscaping 6000 6000 6000 Building Replacement 2500 2500 2500 IT Fund—Computers 5000 5000 5000 Debt Service—Streets 310,000 310,000 310,000 Debt Service—City Hall,PW 82500 82500 82500 Debt Service—Ice Arena 35500 35500 35500 Total $ 14,703,044 $ 15,203,044 3.4% $ 1,553,044 2.3 85 86 The Recommended Budget calls for a tax levy increase of $500,000 or 3.4% in 2012, followed by a 87 $350,000 or 2.3% increase in 2013. The 2012 levy increase is earmarked for additional capital �,8 replacements while the 2013 increase is tentatively set aside for inflationary-type increases in the operating 89 budget. 9,'� The recommended tax levy increase will result in an impact on a median-valued home of$2 per month in 92 2012, followed by an additional $1 per month in 2013. 93 94 Financial impacts on water and sewer and other fee-paying customers will be presented at a subsequent 95 Council meeting. Staff will be available at the Council meeting to address any questions or concerns. 96 POLICY OBJECTIVE 97 Not applicable. 98 FINANCIAL IMPACTS 99 Not applicable. 100 STAFF RECOMMENDATION 10 1 Not applicable. 102 REQUESTED COUNCIL ACTION 103 For information purposes only. No Council action is requested. 10 Prepared by: Chris Miller,Finance Director Attachments: A: Summary Financing Schedule for the Capital Improvement Program Page 4 of 4