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City of Roseville — 2008 Budget
<br />Tax Levy, Tax Capacity, and Tax Impact
<br />The tax levy for 2008 is $12,896,360, an increase of $1,200,000 or 10.3 %. The increase in property
<br />taxes will offset spending increases for wages, healthcare, and inflation, and strengthen the City's asset
<br />replacement programs.
<br />With the proposed tax levy and estimated increases in the City's tax base, an average - valued home of
<br />$235,000 would see an increase of $24 or 4.5% in their local property taxes, holding all other factors
<br />constant (i.e. with no valuation increase).
<br />The following table summarizes the 2008 tax levy.
<br />Program or Service
<br />General Fund
<br />2007
<br />Actual Levy
<br />$ 702,370
<br />2008
<br />Actual Levy
<br />$ 8,854,025
<br />$ Increase
<br />(decrease)
<br />$ 971,655
<br />% Increase
<br />(decrease)
<br />12.3%
<br />Parks & Recreation
<br />784,045
<br />832,335
<br />48,290
<br />6.2%
<br />Parks Maintenance
<br />893,405
<br />955,000
<br />61,595
<br />6.9%
<br />Park Improvements
<br />175,000
<br />215,000
<br />40,000
<br />22.9%
<br />Pathways Maintenance
<br />146,000
<br />140,000
<br />(6,000)
<br />(4.1)%
<br />Streetscape Improvements
<br />60,000
<br />60,000
<br />-
<br />0.0%
<br />General Vehicle Replacement
<br />130,540
<br />140,000
<br />9,460
<br />7.2%
<br />General Debt Service
<br />1,625,000
<br />1,625,000
<br />-
<br />0.0%
<br />Total
<br />$ 11,696,360
<br />$ 12,896,360
<br />$ 1,200,000
<br />10.3
<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. The
<br />citywide tax rate for 2007 and 2008 (estimated) is 23.014% and 24.053% respectively.
<br />To determine an individual property's tax, the local tax rate is applied to the property's net tax capacity.
<br />For example, a $235,000 home has a tax capacity of 2,350 (235,000 multiplied by 1% - the Statewide
<br />tax formula for homestead property). This tax capacity figure is then multiplied by the local tax rate.
<br />2,350 x.24053 = $565
<br />In 2008 a $235,000 home will pay an estimated $565 in city taxes. A similar calculation for other
<br />property valuations is shown in the tables below.
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