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&E3 Property Tax Levy Impact
<br /> 69 Based on the adjusted 2013 Property Tax-Supported Budget noted above, new debt issued in 2011 and
<br /> 2012, an increase in the property tax levy is necessary.
<br /> 71
<br /> "72 The 2013 Recommended Property Tax levy along with a comparison to 2012 is shown in the table below.
<br /> 73
<br /> 74 2013 Property Tax Levy
<br /> "75
<br /> Fund $Iner. % Iner.
<br /> Division 2012 2013 (Deer.) (Deer.)
<br /> General Fund $9,857,699 $ 10,343,720 $486,021 4.9%
<br /> Vehicle Replacement 737,000 737,000
<br /> Equipment Replacement 452,000 502,000
<br /> -
<br /> Parks&Recreation-Programs 1,029,175 L055,215 26,040 2.5
<br /> Parks&Recreation—Maintenance 974,420 1,020,000 45,580 4.7%
<br /> Park-Improvements 40,000 40,000 - -
<br /> Pathway Maintenance 150,000 150,000 - -
<br /> Boulevard Landscaping 60,000 60,000 - -
<br /> Building Replacement 122,000 122,000 - -
<br /> Streetlight Replacement - - - -
<br /> IT Fund—Computers 50,000 50,000 - -
<br /> Debt Service—Streets 310,000 310,000 - -
<br /> Debt Service—City Hall,PW 825,000 825,000 - -
<br /> Debt Service—Ice Arena 355,000 355,000 - -
<br /> Debt Service—2011 Bonds(a) - 835,000 835,000 n/a
<br /> Debt Service—2012 Bonds(b) - 815,000 815,000 n/a
<br /> Total $ 14,962,294 $17,169,935 $2,207fi41 14.8%
<br /> "76 (a)Based on$10 million in bonds issued
<br /> (b)Based on$17 million in bonds issued with only$10 million of debt service coming on-line in 2013.
<br /> "78 The remainder($560,000)will come online in 2014.
<br /> 8o The 2013 Recommended Budget including new debt service requirements calls for a tax levy increase of
<br /> 8 1 $2,207,641 or 14.8% over the 2012 amount.
<br /> 82 POLICY OBJECTIVE
<br /> 83 Not applicable.
<br /> 84 FINANCIAL IMPACTS
<br /> 85 The recommended tax levy increase will result in an impact on a median-valued home of$8.88 per month
<br /> 86 in 2013. For each $100,000 in reduced levy increase, the impact drops by $0.40 cents per month.
<br /> 87
<br /> 88 The water and sewer rate increase (pending) necessary to provide for the 2013 Budget will result in an
<br /> 89 impact of$6.81 per month for the typical single-family home.
<br /> 90 STAFF RECOMMENDATION
<br /> 9,'� Not applicable.
<br /> 92
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