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Tax Levy, Tax Capacity, and Tax Impact
<br />The tax levy for 2018is $20,680,505;an increase of $1,167,445or 6.0%. The increase in property taxes
<br />isnecessaryto offset highercapital replacementand inflationary-type operational costs.
<br />With the proposed tax levy and estimated changesin the City’s tax base, amedian-valued home of
<br />$236,900that experiences a 4.3%change in valuation would see aproperty taxincrease of $22or 2.4%
<br />in their local property taxes.
<br />The following graph and table summarizes the 2018tax levy.
<br />2018 Tax Levy by Category
<br />Debt,16%
<br />Capital,14%
<br />Operations,70%
<br />$ Increase% Increase
<br />Fund / Program20172018(Decrease)(Decrease)
<br />General Fund Programs$11,044,390$11,546,235$501,8454.5%
<br />Parks & Recreation - Programs1,288,9151,349,25560,3404.7%
<br />Parks & Recreation - Maintenance1,248,7551,275,01526,2602.1%
<br />Pathways & Parking Lots Maintenance245,000245,000-0.0%
<br />Boulevard Landscaping60,00060,000-0.0%
<br />General Vehicle & Equipment Replacements1,399,0001,393,000(6,000)-0.4%
<br />General Facility Replacement212,000421,000209,00098.6%
<br />Park Improvement Program200,000410,000210,000105.0%
<br />Pavement Management Program470,000630,000160,0000.0%
<br />Street Lighting Replacement15,00021,0006,00040.0%
<br />Debt Service - City Hall, Public Works Buidings765,000765,000-0.0%
<br />Debt Service - Ice Arena355,000355,000-0.0%
<br />Debt Service - Fire Station, Park Renewal I835,000835,000-0.0%
<br />Debt Service - Park Renewal Phase II & III1,375,0001,375,000-0.0%
<br />$19,513,060$20,680,505$1,167,4456.0%
<br />The Citywide tax capacity represents the taxable property value within the City. It is determined by
<br />applying the State-wide property tax formula for each parcel, then adding each parcel’s tax capacity. The
<br />citywide tax capacity is then applied to the proposed levy to determine the local tax rate. The citywide tax
<br />rate for 2017and 2018(estimated) is 40.131% and 39.404% respectively.
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