CCP 12022024 - Laserfiche WebLink

Home

21 approved September 23, 2024. 22 23 A median-valued single-family home of $360,500 will pay approximately $1,415 annually in property 24 taxes or $117.91 per month for the city and EDA. This is an increase of $118 annually ($9.80 per 25 month). In exchange, residents receive; 24 x 7 x 365 police and fire protection, well-maintained streets and 26 parks, street lighting, and other services. 27 28 The following table describes the different factors resulting in the increase in the 2025 city tax levy: 29 30 31 32 The preliminary budget approved on September 23 contained a line item labeled "Contingency" in the 33 Combined Funds Financial Summary table in the amount of $207,856 of levy dollars. This line item was 34 a placeholder for the four pending union contracts that expire at the end of 2024 (Police Sergeants, 35 Police Lieutenants, Police Deputy Chief, and Public Works/Parks and Recreation Maintenance 36 workers). With the approval of all four labor contracts, the levy funds contained in the Contingency line 37 have been zeroed out and reallocated to the Police, Public Works, and Parks and Recreation 38 Department accordingly. Existing fund balances from the Park Maintenance Fund, the utility funds, and 39 the Public Safety Aid fund were used to cover the non-levy portion of personnel costs and the additional 40 funds needed as a result of the settled contracts and have been reallocated accordingly. 41 42 In addition to property taxes, the utility rates have a moderate increase in the water utility and recycling 43 rates to cover increased costs. The sewer and storm drainage rates will have no increases in 2025. 44 The combined impact on a median-valued single-family home, with water consumption of 12,000 gallons 45 and sewer consumption of 11,000 gallons is depicted in the table below. 46 Page 2 of 4 Qbhf!:!pg!527