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34 <br />35 Property owners will also see a decrease inproperty taxes through the EDA levy. There could also be a <br />36 decrease in utility fees depending on the option the City Council approves. The combined impact on a <br />37 median-valued single family home is depicted in the table below. <br />38 <br />2021 Tax Impact on Median-Valued Home (monthly) <br />20202021Change <br />Property Tax: City$ 86.49$ 85.04 $ (1.45) <br />Property Tax: EDA$ 1.93$ 1.77$ (0.16) <br />$ 88.42$ 86.81 $ (1.61) <br />2021 Impact on Median-Valued Home (monthly) <br />Water Utility Model Options and Combined Tax Impact <br />Existing <br />Utility 2021 Ehlers 2021 Ehlers <br />Rate Utility Utility Rate <br />2020Structure RateOption 1Option 2 <br />Utility Rates$ 60.60$ 66.48 $ 53.46 $ 55.81 <br />Combined City and EDA Levy$ 88.42$ 86.81 $ 86.81 $ 86.81 <br />Combined Total$ 1 49.02$ 153.29$ 140.27$ 142.62 <br />$ Change per month$ 4.27$ (8.75)$ (6.40) <br />% Change2.87%-5.70%-4.56% <br />39 <br />40 <br />41 As shown in the table, a median-valued home that has average household water usage will see a reduction <br />42 of $8.75 or $6.40 per month depending on whether option 2 or option 1 is approved by the council. <br />43 <br />44 A PowerPoint presentation outlining the 2021 Proposed Budget, Tax Levy, and Utility Rateswill be <br />45 presented at the Council meeting and is included in Attachment A. Excerpts of draft minutes from the <br />46 Public Works, Environment and Transportation Commission and the Finance Commission are included <br />47 for the Council consideration on the two options for a new Water Utility rate structure, Attachment B and <br />rd <br />48 C.The 3Quarter Financial Report is included as Attachment D and a memo projected year-end fund <br />49 balances is included as Attachment E. Comments received from the public regarding the 2021 City <br />50 Manager Budget are included as Attachment F. <br />51 P OLICY O BJECTIVE <br />52 Not applicable. <br />53 F INANCIAL I MPACTS <br />54 Not applicable. <br />55 S TAFF R ECOMMENDATION <br />56 No action needed at this time. Final consideration of the City and EDA budget and levy and 2021 <br />57 Utility Rates will be at the December 7 City Council meeting. However, staff asks for direction on <br />58 the preferred water rate model to bring forward for consideration on December 7. <br />Page 3 of 4 <br /> <br />