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City of Roseville — 2004 Budget
<br />Tax Levy, Tax Capacity, and Tax Impact
<br />The proposed tax levy for 2004 is $9,760,674, an increase of $932,790 or 10.6 %. The increase is
<br />attributable to the voter - approved debt service costs and additional operating costs due to the expansion
<br />of City Hall and Public Works facilities.
<br />With the proposed tax levy and estimated increases in the City's tax base, an average - valued home of
<br />$175,000 would see an increase of $13 or 2.9% in their local property taxes (holding all other factors
<br />constant). This is substantially less than the $50 increase that was estimated when the voters approved
<br />the issuance of debt to finance the expansion of City Hall and Public Works facilities.
<br />The following table summarizes the 2004 tax levy.
<br />General Fund
<br />$ 6,203,529
<br />$ 6,311,319
<br />$ 107,790
<br />1.7%
<br />Parks & Recreation
<br />654,355
<br />630,000
<br />(24,355)
<br />(3.7)%
<br />Parks Maintenance
<br />585,000
<br />639,355
<br />54,355
<br />9.3%
<br />Park Improvements
<br />250,000
<br />220,000
<br />(30,000)
<br />12.0%
<br />Pathways Maintenance
<br />135,000
<br />135,000
<br />-
<br />- %
<br />Streetscape Improvements
<br />25,000
<br />25,000
<br />-
<br />- %
<br />General Vehicle Replacement
<br />175,000
<br />175,000
<br />-
<br />- %
<br />General Debt Service
<br />800,000
<br />1,625,000
<br />825,000
<br />103.0%
<br />Total
<br />$ 8,82704
<br />$ 9,760,674
<br />$ 932,790
<br />10.6%
<br />The Citywide tax capacity represents the taxable property 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 capacity.
<br />The citywide tax capacity is then applied to the proposed levy to determine the local tax rate.
<br />The following table summarizes the local tax rate.
<br />Less Tax Increment Value
<br />(2,506,066)
<br />(1,603,330)
<br />Net Tax Capacity for Levy
<br />31,640,813
<br />34,396,670
<br />Net Tax Levy * 1 8,142,363 1 9,103,943
<br />FLocal Tax Rate 1 25.734%1 26.468
<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 capacity.
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