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City of Roseville — 2012 Budget <br />Tax Levy, Tax Capacity, and Tax Impact <br />The tax levy for 2012 is $14,962,294; an increase of $259,250 or 1.8 %. The increase in property taxes <br />is dedicated to strengthening the City's vehicle and equipment replacement program. <br />With the proposed tax levy and estimated changes in the City's tax base, an average - valued home of <br />$215,000 would see an increase of $11 or 1.7% in their local property taxes. <br />The following table summarizes the 2012 tax levy. <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 2011 and 2012 (estimated) is 29.3 09% and 31.041 % 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 $215,000 home has a tax capacity of 2,150 (215,000 multiplied by 1% - the Statewide <br />tax formula for homestead property). This tax capacity figure is then multiplied by the local tax rate. <br />2,150 x.31041 = $667 <br />In 2012 a $215,000 home will pay an estimated $667 in city taxes. A similar calculation for other <br />property valuations is shown in the tables below. <br />10 <br />$ Increase <br />% Increase <br />Fund / Proaram <br />2011 <br />2012 <br />Decrease <br />Decrease <br />General Fund Programs <br />$ 1013391120 <br />$ 918571699 <br />$ (481,421) <br />-4.7% <br />General Fund - lost MVHC <br />4751000 <br />- <br />(475,000) <br />- 100.0% <br />General Vehicle Replacements <br />- <br />7371000 <br />7371000 <br />0.0% <br />General Equipment Replacements <br />- <br />4521000 <br />4521000 <br />0.0% <br />Parks & Recreation - Programs <br />9641319 <br />110291175 <br />641856 <br />6.7% <br />Parks & Recreation - Maintenance <br />9641605 <br />9741420 <br />91815 <br />1.0% <br />Park Improvements <br />1851000 <br />401000 <br />(145,000) <br />-78.4% <br />Pathways Maintenance <br />1501000 <br />1501000 <br />- <br />0.0% <br />Boulevard Landscaping <br />601000 <br />601000 <br />- <br />0.0% <br />Building Replacement Fund <br />251000 <br />1221000 <br />971000 <br />388.0% <br />IT Fund - Computer Replacement <br />501000 <br />501000 <br />- <br />0.0% <br />Debt Service - Street Replacement <br />3101000 <br />3101000 <br />- <br />0.0% <br />Debt Service - City Hall, PW <br />8251000 <br />8251000 <br />- <br />0.0% <br />Debt Service - Ice Arena <br />3551000 <br />3551000 <br />- <br />0.0% <br />Total Levy <br />$ 14,703,044 <br />$ 14,962,294 <br />$ 259,250 <br />1.8% <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 2011 and 2012 (estimated) is 29.3 09% and 31.041 % 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 $215,000 home has a tax capacity of 2,150 (215,000 multiplied by 1% - the Statewide <br />tax formula for homestead property). This tax capacity figure is then multiplied by the local tax rate. <br />2,150 x.31041 = $667 <br />In 2012 a $215,000 home will pay an estimated $667 in city taxes. A similar calculation for other <br />property valuations is shown in the tables below. <br />10 <br />