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Roseville Finance Commission Agenda Item Page 1 of 3 Memo To: Roseville Finance Commission From: Chris Miller, Finance Director Date: July 12, 2016 Re: Item #6: Review 2017 Property Tax Levy Scenarios and Impacts Background At the May 10th and June 14th Finance Commission meeting, the Commission reviewed several information packages detailing historical budget and property tax levy activity as well as projected budgets and levies for the next five years. During the last meeting, the Commission expressed a desire to further discuss various tax levy scenarios and associated impacts on Roseville residents. City Staff presented a preliminary 2017 budget and tax levy impact to the City Council at the Council’s 6/20/16 meeting. As noted during the Council meeting presentation, the impacts represented ‘work’-in-progress’ type projections that are subject to change as we move forward through the budget process. A summary of those projections and impacts is shown in the table below. Property Tax Levy Prelim.Annual 2016 2017 $ Increase % Increase Tax Levy Amount 18,944,720$ 20,096,170$ 1,151,450$ 6.1% Impact on Median SF Home: 0.% Change 854 868 14 1.7% Impact on Median SF Home: 4.8% Increase 854$ 910$ 56$ 6.6% Utility Fees: Single-Family Homes Prelim.Annual 2016 2017 $ Increase % Increase Water Fees 341$ 348$ 6$ 1.8% Sewer Fees 235 247 12 5.1% Storm Fees 49 52 2 4.9% Recycling Fees 22 26 4 16.1% 648$ 673$ 24$ 3.7% Levy + Utility Fees: SF Homes Prelim.Annual 2016 2017 $ Increase % Increase Property Taxes 854$ 910$ Utility Fees 648 673 1,502$ 1,582$ 80$ 5.3% Based on preliminary 2017 budget and tax levy projections, a typical single-family home will experience a combined property tax and utility fee impact of $80 per year or $6.69 per month. This represents a 5.3% increase over the current year. Item #6: Attachment C