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Attachment E - 12/7/2020 Council Meeting 19 2021 Recommended Tax Levy & Budget 20 The City Council received the 2021 City Manager Recommended Tax Levy and Budget on August 10, 21 2020. The information presented below refers to the City Manager recommended amounts as amended. 22 23 The 2021 Recommended Tax Levy is $23,538,859, an increase of $897,089 or 3.96%. The impact on 24 residents will vary depending on the propertyÓs value and change in value relative to other properties in 25 the city. For 2021, the median-valued home of $280,600 can expect to pay approximately $83.96 per 26 month; which is a decrease of $2.53 or -2.92%, per month from 2020 taxes, based on latest market value 27 data from Ramsey County. 28 29 This is independent of the impacts that will result from a lower EDA Levy and utility rate increases. The 30 combined effect of all three (as recommended) are depicted in the table below. 31 2021 Budget Impact on Median-Valued Home (monthly) 20202021$ Chg. Property Tax Levy: City$ 86.49$ 83.96$ ( 2.53) Property Tax Levy: EDA 1.93 1.77 ( 0.16) Utility Rates 60.60 3.2063.80 Combined Total149.01$ $ 149.53$ 0.51 32 33 34 35 There was a decrease to the overall city budget of $20,000 made by the City Manager to the th 36 Communications budget after the August 10 Council meeting, due to the removing city web page 37 redesign from the 2021 budget. The overall 2021 City Manager Recommended Budget, as adjusted, is 38 $63,418,440, an increase of $654,785 from the previous year. The Budget for the property tax-supported 39 programs is $38,170,680, an increase of $345,510 or .9%. 40 41 At the September 14, 2020 City Council meeting, the Finance Commission recommended that the 2021 42 tax levy be increased equivalent to the three patrol positions which were removed, pending further details 43 from the City Manager and Police Chief. This would increase the levy by $276,300 which would impact 44 the monthly city tax by $1.08. See the chart below which depicts the budget impact. 45 2021 Budget Impact on Median-Valued Home (monthly) (with Finance Commission Recommendation) 20202021$ Chg. Property Tax Levy: City$ 86.49$ 85.04$ ( 1.45) Property Tax Levy: EDA 1.93 1.77 ( 0.16) Utility Rates 60.60 3.2063.80 Combined Total149.02$ $ 150.61$ 1.59 46 47 48 Attachment G shows estimated impacts on various valued homesteaded single family residential 49 properties and a range of commercial properties. 50 51 A summary and reconciliation of the 2021 Recommended Tax Levy & Tax-Supported Operating Budget 52 is included in Attachment D. The proposed increase in the Tax Levy is summarized on the following 53 table. Page 2 of 4