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City of Roseville — 2010 Budget <br />Tax Levy, Tax Capacity, and Tax Impact <br />The tax levy for 2010 is $14,282,404; an increase of $1,143,544 or 8.7 %. The increase in property taxes <br />will help offset the expected $450,000 loss in state aid and to re- establish funding for the City's vehicle <br />replacement program. <br />With the proposed tax levy and estimated changes in the City's tax base, an average - valued home of <br />$235,000 would see an increase of $37 or 6.5% in their local property taxes. <br />The following table summarizes the 2010 tax levy. <br />General Fund — Programs <br />119 <br />$ 899109360 <br />2010 <br />$995699735 <br />$ Increase <br />$ <br />'. Increase <br />7.4% <br />General Fund — lost MVHC <br />- <br />4509000 <br />4509000 <br />n/a <br />Parks & Recreation <br />9269560 <br />8339755 <br />(92,805) <br />(10.0)% <br />Parks Maintenance <br />9319940 <br />9949805 <br />629865 <br />6.7% <br />Park Improvements <br />2159000 <br />1859000 <br />(30,000) <br />(14.4)% <br />Pathways Maintenance <br />1409000 <br />1359876 <br />(4,124) <br />(2.9)% <br />Streetscape Improvements <br />609000 <br />589233 <br />(1,767) <br />(2.9)% <br />Building Replacement <br />259000 <br />259000 <br />- <br />0.0% <br />Information Systems <br />509000 <br />509000 <br />- <br />0.0% <br />Debt Service — Streets <br />8009000 <br />8009000 <br />- <br />0.0% <br />Debt Service — City Hall, PW <br />8259000 <br />8259000 <br />Debt Service - Arena <br />2559000 <br />3559000 <br />1009000 <br />39.2% <br />Total <br />$ 1391389860 <br />$ 1492829404 <br />$ 191439544 <br />8.7 % <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 2009 and 2010 (estimated) is 24.546% and 27.505% 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 .27505 = $646 <br />In 2010 a $235,000 home will pay an estimated $646 in city taxes. A similar calculation for other <br />property valuations is shown in the tables below. <br />10 <br />