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<br />Proposed Tax Levy & Estimated Impact 123
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<br />Levy Purpose 2013 2014 2015 2016 2017 2018 2019 2020
<br />Operations (a)12,543,826 $ 12,742,721 $ 13,525,003 $ 13,930,753 $ 14,348,675 $ 14,779,136 $ 15,222,510 $ 15,679,185 $
<br />Capital (b)1,586,000 1,586,000 1,796,000 2,106,000 2,266,000 2,761,000 2,961,000 3,611,000
<br />Debt (c)3,140,000 3,700,000 3,480,000 3,330,000 3,330,000 3,055,000 2,995,000 2,230,000
<br />Total17,269,826 $ 18,028,721 $ 18,801,003 $ 19,366,753 $ 19,944,675 $ 20,595,136 $ 21,178,510 $ 21,520,185 $
<br />$ Levy Increase- 758,895 $ 772,282 $ 565,750 $ 577,923 $ 650,460 $ 583,374 $ 341,675 $
<br />% Levy Increase- 4.4%4.3%3.0%3.0%3.3%2.8%1.6%
<br />Monthly Impact (d)- 4.47 $ 3.19 $ 2.34 $ 2.39 $ 2.69 $ 2.41 $ 1.41 $
<br />% Increase7.3%4.9%3.4%3.4%3.7%3.2%1.8%
<br />(a)Assumes 3% annual inflation, plus an additional $400,000 to eliminate use of reserves in 2015. EXCLUDES funding for new initiatives
<br />(b)Per CIP Committee Recommendations (Sep 10, 2012); Resolution #11027 (Nov 19, 2012)
<br />(c)Based on current debt schedule as of 07/01/2013
<br />(d)Represents the impact on a median-valued home. It assumes an annual growth rate of 2% in the City's tax base and home valua tion 125 126
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<br />As noted above, more detailed informati on on the Recommended Budget is included in Attachments A-144
<br />C . It should be noted that the costs associated with implementing the Compensation Study and other 145
<br />specific initiatives highlighted above have not yet been allocated to the various budget program 146
<br />amounts as depicted in these attachments. They are instead shown under the ‘contingency/unallocated’ 147
<br />categories as a temporary placeholder under Attachments D and E . These costs are reflected however 148
<br />in the overall Recommended Budget amount. 149
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<br />City Staff will present additional information regarding the 2014 City Manager Recommended Budget 151
<br />at the meeting. 152
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<br />Property Tax Impact :
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<br />Under the 2014 Recommended Budget, the monthly impact on a median-valued home will be
<br />$4.47 per month. Only $2.15 of this amount is for day-to-day operations. The remaining is for
<br />debt service.
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<br />In total, a median valued home will pay $65 per month in property taxes. This is comparable
<br />to what that same home will pay independently for gas, electric, mobile phone, and internet
<br />connectivity.
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<br />This 7-year tax levy projection de monstrates that the City is n earing a period of stability that
<br />will allow for inflationary-type increases moving forward in order to maintain current service
<br />levels. However, if the Council establishes ne w programs or initiatives, additional taxes will
<br />be likely.
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