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Memo <br />Attachment F <br />To: <br />Roseville City Council <br />Bill Malinen, City Manager <br />From: <br />Chris Miller, Finance Director <br />Date: <br />September 10, 2012 <br />Re: <br />Summary of 2002-2012 Tax Levy Changes <br />Tax Levy History <br />During the 10-year period from 2002-2012, the City’s tax levy increasedfrom $8,922,884 in <br />2002 to $14,962,294today. This represents an increase of $6,039,410, or an average of 6.8% per <br />year. For comparison purposes, the local inflation as measured by the Consumer Price Index <br />was approximately 2.5% per yearduring this same period.These changes are depicted in the <br />chart below. <br />Cumulative % Change <br />60.0% <br />50.0% <br />40.0% <br />30.0% <br />20.0% <br />10.0% <br />0.0% <br />20022003200420052006200720082009201020112012 <br />% Change in Levy% Change in CPI <br />While tax levy increases outpaced inflation during this period, there were a number of significant <br />factors that necessitated these increases including added investment in infrastructureand asset <br />replacement, and the loss of state-aids.This also coincides with a period where some of the <br />City’s non-tax revenues such as interest earnings were stagnating or declining, which required <br />additional taxes tooffset thedecline. <br />These factors account for two-thirds of the tax levy increases.Absent these increases, the <br />average % change in the levy would have only been 2.2% per year -less than the CPI.This is <br />depicted in the chart below. <br />1 <br /> <br />