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These increased spending obligations will require a corresponding increase in the property tax
<br />levy and/or a reduction in other budget areas. Assuming this was accomplished solely through a
<br />levy increase, a typical single-fa.lnily home would pay an additional $5.29 per month holding all
<br />other factors constant. However, changes in the City's tax base are expected to occur in 2008
<br />that will minimize this impact significantly.
<br />~m~gine ~®sevIlflfle 2®~~ ~gsi®n
<br />Although the Council has not yet prioritized which goals and strategies to pursue for 2008, it is
<br />recommended that we set aside funds for this pu~~pose. It is recommended that the City set aside
<br />$200,000 to be allocated at a future date consistent with Council priorities. This appropriation
<br />may include new staffing positions or reclassifications. For a typical single-family home, this
<br />WOUId tl"allslate 11110 an addltlollal $0.90 per month.
<br />®vcfl°aflfl Pr®peIl ty '~'~x ~~pact
<br />If the City Council adopted all of the property tax levies described above, the citywide property
<br />tax levy will increase as follows:
<br />2007 Property Tax Levy $ 11,696,360
<br />Plus add'1 for budget policy compliance 20,000
<br />Plus add'1 for asset replacement 70,000
<br />Plus add'1 for safety and OSHA items 50,000
<br />Plus add'1 to preserve programs 1,265,000
<br />Plus add'1 for Imagine Roseville 2025 ** 200,000
<br />Total $13,531,360
<br />* * which may include additional staffing
<br />In this example, the total property tax levy increase would be $1,835,000 or 15.7% over 2007.
<br />For a typically valued home of $235,000, the impact would be $92 per year, or $7.67 per month,
<br />holding all other factors constant. However, as noted above, shifts in the City's tax burden are
<br />expected to occur in 2008 that will significantly reduce this impact. Assuming these shifts occur,
<br />and this same home experienced a 5% increase in value, the impact would be $86 per year, or
<br />$7.17 per month.
<br />For comparison purposes, the following table outlines the estimated tax impacts based on
<br />varying tax levy increases for a typical value home (assuming ~ increase in valuation):
<br />Sqo
<br />',.T~L~' 1•'C ~ ,~~.q~,~~b/ ~ '~~' ~.~ , ~ J~` ~ 111 ~~ ~ ~ ~_G I 1 ~'~_l(9 r ~ ~~ ~1~1~ 91 ~~~, ~ j 1 ~I~ ~ ~ J
<br />$ 700,000 $ 27 $ 2.21-
<br />825,000 33 2.72
<br />935,000 39 3.23
<br />1,050,000 45 3.75
<br />1,170,000 51 4.26
<br />1,285,000 S7 4.77
<br />1,400,000 63 5.28
<br />$ 1,835,000 $ 86 $ 7.17
<br />4
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