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City of Roseville — 2005 Budget
<br />Tax Levy, Tax Capacity, and Tax Impact
<br />The tax levy for 2005 is $10,637,965, an increase of $877,291 or 9.0 %. The increase in property taxes
<br />will offset spending increases for inflation and healthcare, and help eliminate the structural deficit within
<br />the tax - supported funds that was created when the State rescinded the City's general - purpose state aid.
<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 $14 or 3.3% in their local property taxes (holding all other factors
<br />constant).
<br />The following table summarizes the 2005 tax levy.
<br />Program or Service
<br />General Fund
<br />114
<br />Actual Levy
<br />$ 6,311,319
<br />2005
<br />Proposed Levy
<br />$ 6,974,965
<br />$ Increase
<br />(decrease)
<br />$ 663,646
<br />% Increase
<br />(decrease)
<br />10.5%
<br />Parks & Recreation
<br />630,000
<br />660,000
<br />30,000
<br />4.7 %
<br />Parks Maintenance
<br />639,355
<br />838,000
<br />198,465
<br />31.1 %
<br />Park Improvements
<br />220,000
<br />150,000
<br />(70,000)
<br />(31.8)%
<br />Pathways Maintenance
<br />13 5,000
<br />140,000
<br />5,000
<br />3.7%
<br />Streetsca e Improvements
<br />25,000
<br />25,000
<br />-
<br />0.0%
<br />General Vehicle Replacement
<br />175,000
<br />225,000
<br />50,000
<br />28.6%
<br />General Debt Service
<br />1,625,000
<br />1,625,000
<br />-
<br />0.0
<br />Total
<br />$ 9,760,674
<br />$ 1037,965
<br />$ 877,291
<br />9.0
<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 />Gross Net Tax Capacity
<br />114 Actual
<br />43,979,073
<br />2005 -d
<br />45,50000
<br />Less Fiscal Disparities
<br />6,981,756
<br />7,000,000
<br />Less Tax Increment Value
<br />(2,469,017)
<br />(1,500,000)
<br />Net Tax Capacity for Levy
<br />34,528,300
<br />37,000,000
<br />Net Tax Levy *
<br />8,229,174
<br />9,106,465
<br />Local Tax Rate
<br />23.833%
<br />24.612
<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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