2004-08-17_Agenda - Laserfiche WebLink

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5.2The maximum HRA levy is equal to .0144 percent of taxable market value (Roseville 2004 = $3.25 billion), which would equal approximately $468,000 annually using 2004 taxable market value. Using the average assessed value for single family homes in Roseville of $194,256, the average annual City tax is $514. If an HRA levy of $468,000 was initiated as part of the 2005 budget process the estimated increase in the average City The tax would be $27 ($2.25 per month) independent of all other offsetting factors. other offsetting factors that can occur would likely lessen the impact to the average homeowner such as the overall increase in the citywide market value and City general fund budget. 5.3A summary of how the HRA levy would affect various Roseville homeowners is shown below based upon a range of 2004 estimated market values for single family homes. Estimated Market # of total % of Estimated Annual Estimated Value - 2004 unitstotalLevy Amount Monthly Increase unitsin Taxes Less than $100,000 6596.29%$14.40 $1.20 $100,001 - $130,000 3883.69%$14.40 - $18.72 $1.20 - $1.56 $130,001 - $170,000 2,16520.57%$18.72 - $24.48 $1.56 - $2.04 $170,001 - $200,000 3,42532.54%$24.48 - $28.80 $2.04 - $2.40 $200,001 - $300,000 3,14529.88%$28.80 - $43.20 $2.40 - $3.60 $300,001 - $500,000 6666.33%$43.20 - $72.00 $3.60 - $6.00 Over $500,000 760.73%Over $72 Over $6.00 In addition, the HRA levy is spread across all property owners including commercial and industrial properties. Land Use Total Market % City Estimated HRA Value 2004 MarketLevy Contribution Value Total - .0144% - 2004 Multi-Family Residential $509,602,70014.88%$73,383 Single-Family Residential $1,654,755,70048.31%$238,285 Commercial $677,535,30019.78%$97,565 Industrial $333,335,2009.73%$48,000 Vacant\Other $22,451,4000.66%$3,233 HRA Budget Hearing & Levy Request - Page 8 of 9