Annual_Budget_1982_001 - Laserfiche WebLink

Home

Letter of Transmittal August 24, 1981 The Honorable Mayor and City Council, Submitted herewith is the proposed 1981 annual budget. Introduction It is the intent o noting siqnificant ' four major areas: Expenditures. f this letter to give a broad overview of the budget changes from the previous year. It is divided into Levy and P9i11 Rate, Assessed Valuation, Revenue and = In general, the 19H2 budget reflects only the projected effects of inflation while keeping in mind the neva 8% levy limitation. This budget offers an austere program of City services with no significant program changes. Certain other changes specific to a department are mentioned in the budget detail under Program Pdotes. Levy and Mill Rate The 1982 proposed budget will require a tax levy of $3,460,645 compared to the current year levy of $3,095,843. This proposed increase of $364,802 is 11.7II% over 19II1. Given the estimated assessed valuation discussed below, it is estimated the 1982 mill rate will be 11.605 mills compared to 11.431 mills in 19�1. This is a 1.5% increase in mill rate. Assessed Valuation The 1982 assessed valuation in Roseville as of Juty 23, 1981, is �29II,193,786. This compares to a 1981 assessed valuation of $269,�48,296 which is a $28,245,490, or 10.46% increase. These valuations include adjustments for fiscal disparities. Primarily, the increase in assessed valuation is a result of the impact of inflation on property values. According to figures provided by Ramsey County, the average home in Roseville was valued at �69,339 in 1981 and $76,216 for 1982. This is a 9.1% increase. With a projected mill rate of 11.605 this average home would receive a tax increase of 11.04% over 1981. This, of course, is only the City's portion of the total levy. Est mate_ of the County and School District levies were not available. It should be noted that vdhile the levy requirement has increased 11 J 8% against a levy limitation of II%, there are certain exclusions from this ' limitation. 4Jith these exclusions the levy increase subject to the limit- ' ation is slightly under 8%.