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T�ese increased spending oblzgations will require a correspanding increase in the property �ax levy and/or a reductian in aiher bud�et areas. A�s�ning this was accnmplished solely thraugl� a levy incr�ase, a typica� sir�gle-faz�ily home would pay an additional $5.29 per mo�ih hnlding all other factors co�zstant. Hawever, changes in the Ci�y's tax base are expected �o occur in 2008 that will minimize this inapact significantly. �anaagiue Ros�ville 2Q25 Vision Althoug� the Council �as not yet prioriiized which gaals and sirategies to pursue fa� 2008, it is recarnmended that we set aside funds for t�is p�rpose. Tt is recammended t�at t�e Ci�y set aszde $200,Q00 to be a�Iocated a� a fut��e date eonsistent with Counci� priarities. T�is approp:riatian inay include new staffing positians or reclassificatians. For a typical single-fa�nily home, �:his �vo�,ild traz�slate into an additional �0.9Q er month. Over�.11 Property Tax T�tapact If the City Couzaczl adaptea a�� of the property iax ]evies d�scribed above, t�� citywide prc�pe�ty tax levy will i�crease as follows: 2007 �'roperty Tax Levy $ 11,696,36Q Plus add'1 for bud�et polic� compliance 250,000 I'Ius add'1 fnr asset rep7acement 70,OOfl �'lus add'1 for sa�'ety a�.d OSHA items 50,000 Plus add'1 to preserve programs 1,265,OpQ Plus ac�d'1 fnr Imagine Raseville 2025 '�* 200,000 Total $�3,531,3G0 ** wh[ch may include additionaI staffing In this example, the i;otal p�operty ta� levy increase wauld be $1,835,000 or 15.7% aver 2QQ7. For a typically valued hame o£ $235,000, t�e impact wou�d be �92 per year, ar $7.b'1 per rr�onCh, ho�ding all a�her factors constant. Howeve�, as noted above, shifts in �he Ci�y's ta� burden are expected to occur in 2008 that wil� significantly reduce this iz�apact. Assu�ning these shzfts accur, and tl�is same hame experienced a 5% increase in val�e, the im aci wauld be $86 er ear ar $7.17 er month. For coznparisozl puzposes, 1;he follawing table au�lines the estimated tax impacts based on varying tax levy inereases for a typical value �orrie (ass�.unir�g no increase in valuation}: �