Annual_Budget_1984_001 - Laserfiche WebLink

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August 15, 1983 Letter of Transmittal The Honorable Mayor and City Council: Submit�ed kierewitt: i, the proposed 1984 annual budqet. Introduction The intent of this letter is to give a broad overview of the 1984 budget, noting significant changes from the 1983 budget. The letter addresses four major areas: Levy and Mill Rate, Assessed Valuation, Revenue, and E�enditures. Levy and Mill Rate . The proposed 1984 budget wi11 require a tax levy of $4,211,653, which is an increase of 15.40, or $564,119 over 1983. Given this levy requirement and the estimated assessed valuation discussed below, it is estimated the 1984 mi11 rate wi11 be 12.46 mills, compared to 11.357 mills in 1983. Assessed Valuation The 1984 assessed valuation in Roseville, as of Ju1y 18, 1983, is $343,902,800. This is a 7.17o increase over the 1983 figure of $320,888,258. These valua- tions include adjustments for fiscal disparities. The increase in assessed valuation is primarily 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 $79,437 for 1983, and $81,084 for 1984. This is a 2,07o increase. Using the projected mill rate of 12.46, this average home would require a City tax increase of $16.00, or S.le over 1983. This is, of course, only the City's portion of the total levy. Estimates of the County and School District levies were not available.