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We can also depict the year-by-year changes in the overall tax levy to not only gauge taxpayer impact <br />over time, but to also demonstrate what’s driving property tax changes. The following chart depicts the <br />tax levy by type since 2001. <br />Tax Levy by Type <br />$2 <br />2001-2016 <br />$3 <br /> $20 <br />Millions <br />$2 <br /> $18 <br /> $16 <br /> $14 <br />$1 <br /> $12 <br />$1 <br /> $10 <br /> $8 <br /> $6 <br /> $4 <br /> $2 <br /> $- <br />2001200220032004200520062007200820092010201120122013201420152016 <br />OperationsCapitalDebtState-Aid Loss <br />As show in this chart, the overall tax levy has risen significantly in the past 16years. However, the major <br />drivers behind these increases is due to two primary factors: 1) the loss of state-aids and other non-tax <br />revenues, and 2) the need for capital reinvestment. <br />Since 2001, the City has lost nearly $2 million annuallyin various state-aids necessitating an increase in <br />the tax levy to maintain programs and services levels. During this same period, the tax levy needed to <br />support capital investment (including debt-financed capital replacements) has risen from $2 million per <br />year to $5 million.In contrast, the tax levy needed to support day-to-day operations (after adjusting for <br />lost state-aid) has increased by only 1.0% per year since 2011. <br />Another comparison we canmake is to compare changes in the tax levy overtime to a standard benchmark <br />–the local inflation rate as measured by the Consumer Price Index (CPI). The CPI represents the change <br />in prices over time for a typical household’s purchases such as housing, food, clothing, utilities, etc. A10- <br />year cumulative summary of the tax levy increases as compared to the localinflation rate is shown below. <br />12 <br /> <br />