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The Honorable Mayor and City Council:
<br />Submztted herezn is the proposed annual budget for fiscal year 1975e
<br />LEVY AND MILL RfiTE
<br />The proposed budget will require a tax levy of $1,749,561 or an estimated
<br />mill rate of lla80o This compares with a 1974 tax levy of $1,707,061 and
<br />a mill rate of 11088o The proposed tax levy is $42,500 or 20490 increase
<br />over the 1974 Ievy:
<br />ASSESSED V.4LUAT'ION
<br />The 1974 estimated assessed valuation for the city is $148,225,000 or
<br />$3,925,000 over the 1973 valuationo The assessed valuation has increased
<br />' 2,72% over the prior year and is slightly higher than the percentage of the
<br />" proposed tax levy increasee There has been no general re-evaluation of
<br />Roseville properties during 1974, and as a result, City taxes will not in-
<br />€� crease for the homeowner whose property has not been individually revalued
<br />by� the county,
<br />REVENUE
<br />The table below represents the dollar and percentage change from the 1974
<br />budget for each of the major revenue sources� It does not reflect'amounts
<br />that were appropriated from reserves after the 1974 budget was adopted:
<br />SOURCE
<br />General Property Taxes
<br />Special Assessments
<br />' Licenses and Permits
<br />Court Fines
<br />, Revenues from Other
<br />Agencies
<br />' Charges for Services
<br />Transfers
<br />Total
<br />1974
<br />1,707,061
<br />793,644
<br />151,000
<br />50,000
<br />836,214
<br />2,433,475
<br />806,330
<br />6,777,724
<br />1975 $ Increase % Increase
<br />� (Decrease) (Decrease)
<br />1,749,561
<br />848,593
<br />194,500
<br />50,000
<br />809,971
<br />2,532,532
<br />904,814
<br />7,089,971
<br />42,500
<br />54,949
<br />43,500
<br />-0-
<br />(26,243)
<br />99,057
<br />98,484
<br />312,247
<br />2049
<br />6,92
<br />28e80
<br />- 0-
<br />(3e14)
<br />4a07
<br />12e21
<br />� .�
<br />A� General Property Taxes, Revenue from property taxes is proposed to increase
<br />slightly less than the percentage increase in assessed valuation. As noted
<br />above, with no general property re-evaluations during 1974, the City's tax
<br />impact on the homeowner caould be approximately the same unless his
<br />propert� has been individually revalueda Property taxes represent 24067%
<br />of the proposed budget or a D15% reduction from the current year.
<br />B� Special Assessments, The amount of special assessments received each
<br />year has been predetermined by bond maturity schedules,
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