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Future Levy Impacts <br />Consistent with Staff's strategic planning efforts, the impact of the soon-to-be-issued bonds has <br />been incorporated into Staffs approach to the budget and tax levy. Certain one-time <br />expenditures and first-year impacts have been included in the 2003 Budget so as not to coincide <br />with the impact from a new debt levy for the City Hall/Public Works Expansion in 2004. In <br />addition, it is anticipated that the City's on-going redevelopment efforts, coupled with the <br />decertification of TIF districts earlier this year, could potentially translate into a 10- 15% increase <br />in the City's tax base used for tax rate purposes. This, along with the planned decrease in the <br />levy for e�sting debt scheduled in 2004, will greatly offset the impact of the new bonds. <br />Throughout various public meetings and communication efforts, the general public was informed <br />that if the referendum passes, a typical household could expect an increase in their taxes of $55 <br />annually, holding all other factors constant. This was assuming a particular bond structure, <br />interest rate market, etc. These events have yet to be determined, as have many other spending <br />decisions that will have an impact on future levies. <br />