HomeMy WebLinkAbout08 16 10 City Council Work SessionCITY COUNCIL WORKSHOP AGENDA REPORT
MEETING DATE: AUGUST 16, 2010
PREPARED BY: JERILYN ERICKSON, FINANCE DIRECTOR
PRESENTER: JERILYN ERICKSON, FINANCE DIRECTOR
TOPIC: 2011 PRELIMINARY BUDGET & TAX LEVY
DISCUSSION: Introduction
The Truth in Taxation statutes require that each "taxing authority" adopt a
preliminary budget and certify a preliminary tax levy for payable 2011
property taxes to the County Department of Taxation on or before
September 15, 2010. The preliminary tax levy is significant in the fact that it
establishes the maximum that the City can levy against properties in 2011.
The Council will consider the final tax levy in December at which time the
levy can be either reduced or maintained at the amount established in
September. The Council will not be able to increase the tax levy.
The purpose of today's workshop is to discuss and receive direction on the
following:
1) Preliminary 2011 Budget
2) Use of Fund Balance Reserves
a) Is the amount being recommended for 2011 appropriate?
b) What is the longer-term impact of using reserves?
3) Preliminary 2011 Tax levy Options
a) Zero percent change in total levy
b) Zero percent change in operating levy; change in debt levy as
determined by debt service payments;
c) Change based on new construction valuation
d) Change based on preliminary budget
The following meetings/workshops are currently scheduled to discuss service
priorities, labor strategies, funding options and adopt 2011 property tax levies
and budgets. The workshops could change if the Council determines that
additional meetings are needed.
09/07/2010 CC Meeting -Adopt Preliminary 2011 Budgets & Property Tax
Levy
10/04/2010 CC Workshop -Discuss 2011 Budget & Property Tax Levy
11/01/2010 CC Executive Session -Discuss AFSCME labor negotiation
strategies
12/06/2010 CC Meeting -Truth in Taxation. Hearing
12/20/2010 CC Meeting -Truth in Taxation Hearing Continuation (if needed)
Adopt Final 2011 Budget & Property Tax Levy
R:ICounci112010Agenda Reports10816101Workshop Report - 201 i Budget - 2010.08. i 6.doc Page 1
History
In recent workshops, the Council has communicated three priorities that
should be incorporated into the 2011. budget:
1) Economic Development
2) Strong Financial Management
3) Natural Resources
Please see the attached 2030 Vision and Strategic Plan Update for details.
Current Circumstances
The preliminary budgets prepared reflect the Council-directed priorities.
Economic Development
The Council has indicated that resources should be dedicated to supporting
economic development initiatives. The Council also recognizes that current
staffing levels are not sufficient to dedicate the time and effort that will be
needed to achieve the aggressive goals that are expected to be established
by the Economic Development Authority. Staff was directed to include
resources, either in the form of consultants or full-time staff, be added to the
2011 budget to reflect this priority.
The preliminary budget reflects an additional $110,000 in personnel costs
(salary and benefits) to hire afull-time Economic Development Coordinator.
If the Council believes that a consultant is more appropriate at this time, the
budget would be adjusted to reflect the costs undercurrent expenditures
versus employee services.
Questions:
1) Is the $110,000 sufficient for consulting services or hiring afull-time
position?
2) Should additional expenditures be considered for support services
such as clerical, marketing and promotional, professional services,
etc.
3) What is the funding source for additional expenditures?
The Council and Economic Development Authority will need to consider the
level. of investment they want to make to support economic development
initiatives, including possible business subsidies such as Tax Increment
Financing, loans, grants, etc. Due to time constraints, this will be a topic of
a separate meeting.
Strong Financial Management
The Council has indicated that they would support using Genera) Fund
reserves to mitigate property tax demands for 2011. Resolution 07-087,
which adopted the revised 2030 Vision and Strategic Plan and established
the Finance Performance Gold Standards, provides the current guidance
for the General Fund reserve balances. One of the objectives of this goal
was to maintain a 45% General Fund reserve balance.
The preliminary budget reflects the use of General Fund reserves in the
amount of $350,000. It maintains a level of reserves at slightly less than
45%.
R:ICounci112010Rgenda Reports10816101Workshop Report - 2011 Budget - 2010.08.16.doc Page 2
Questions:
1) Is $350,000 the appropriate amount of fund balance reserves to be
used?
2) Is it an appropriate use of funds?
3) Does it have any negative. impacts on future reserve balances?
Natural Resources
The Council has indicated that resources should be dedicated to supporting
additional water quality initiatives. The Water Quality Fund budget reflects
grant revenues that would pay for the additional personnel (.65 FTE
engineering position) and operating costs associated with these initiatives.
Conclusion
Staff has prepared the following documents to assist in the discussion:
Budget Overview
This reflects preliminary figures for the 2011 budget for the following funds:
• General Fund
• Debt Service Funds -NEW -includes all debt
• Revolving Equipment Fund -NEW -reflects 2011 equipment needs
approved in the 2011-2015 CIP (adopted on 06/21/2010)
• Water Fund -separated from Sewer Fund
• Sewer Fund -separated from Water Fund
• Water Quality Fund
• Transit Fund
The expenditures anticipated for the Debt Service Funds and the Revolving
Equipment Fund have not previously been budgeted. Many cities establish
budgets for only their General Fund and Enterprise Funds, as Prior Lake
has done in the past. Developing budgets for each of these funds will
provide greater transparency in the types of overall expenditures that are
expected in 2011. Staff recommends including budgets for the Debt
Service Funds and the Revolving Equipment Fund in the overall 2011
budget.
Per Council direction in 2009, Staff has separated the Water and Sewer
functions into two separate funds.
Summary Revenue and Expenditure Reports
Summary reports are provided for each of the funds noted above.
Significant changes are as follows:
R:ICounctl12010Rgenda Reports10816101Workshop Reporf - 201 iBudget - 2010.08.16.doc Page 3
General Fund Revenues
• Increased Tower/Communication Site lease revenues (Clear
Wireless and TTM);
• Reductions in School Liaison, Cleanup Day grants/gate fees, court
fines and restitution fines;
• Additional loss of MVHC Aid;
• Additional transfer from Water Fund and Sewer Fund.
General Fund Expenditures
• Addition of full-time Economic Development Coordinator;
• Squad car purchases were taken out of the Police operating budget
and are reflected in the Revolving Equipment Fund budget;
• Personnel costs reflect COLA and steps per union agreements
(EELS and Teamsters) and projected for AFSCME and non-
represented, mandated increases for PERA, anticipated increases
for insurances.
• Contingency was reduced to zero, recognizing that the Fund
Balance reserves are available in the event additional funding is
needed.
Debt Service Funds
• Reflects payments for all types of debt including special assessment
bonds, tax increment bonds, revenue bonds.
Revolving Eauipment Fund
• Reflects equipment identified in the 2011-2015 CIP that will be
replaced.
Water Fund, Sewer Fund. & Water Quality Fund
• Operating revenues unchanged;
• WQ Fund includes grant revenue for water quality initiatives;
• Personnel costs reflect adjustments as noted above.
Transit Fund
• Increased revenues from bus fares and state transit aid;
• Personnel costs reflect adjustments as noted above.
• Reductions in operating costs;
• No capital projects planned.
Impact of Tax Levy on Average Valued Home
The attached report reflects the impact of four scenarios on the average
valued home in Prior Lake.
• Zero change in total tax levy
• Maintain same tax rates for tax capacity-based levies and market
value-based levies
• Levy increased by the amount of tax generated by new construction
• Levy adjusted by the amount requested with the 2011 budget
The average valued home decreased from $304,200 in 2010 to $288,800 in
2011.
R:ICounci112010Agenda Reports10816101Workshop Report - 20i 18udget - 2010.08.16.doc Page 4
Comparison of Tax Levies Per Capita
The attached report reflects some comparative data related to the Tax
capacity-based levy on a per .capita basis.. The data was taken from
financial data compiled by the League of MN Cities. There was no market
value-based levy information readily available to include in this report. This
may be due to the fact that the market value-based levies are reflective of
voter approved referenda.
Property Tax and Fund Balance Reserve Projections
The attached report is the same report that you received in February, 2010
when we discussed the obligations of our planning documents (CIP,
Transportation Plan, Equipment Plan, Park Equipment Plan, etc.) as well as
inflationary pressures on personnel costs and current expenditures. It has
been updated to reflect the current projections for revenues and expenses.
R:ICounci112010Agevda ReporFs10816101Workshop Reporf - 20 i 1 Budget - 2010.08.98.doc Page 5
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of POOR City of Prior Lake
2011 Preliminary Budget
~ o+ Revenue Summary
S~~P
2010
Council Workshop 08.16.2010
2010 2011
2011 $ Change % Change % of % of
~enerai tuna waoptea Kequestea ~u - ~~ ~u - ~~ i otai i otai
Taxes 8,482,856 8,428,405 (54,451) -0.64% 69.99% 69.62%
Licenses and permits 269,975 269,975 0 0.00% 2.23% 2.23%
Intergovernmental 1,327,667 1,310,678 (16,989) -1.28% 10.95% 10.83%
Charges for services 1,382,131 1,467,332 85,201 6.16% 11.40% 12.12%
Fines and forfeitures 182,000 150,000 (32,000) -17.58% 1.50% 1.24%
Interest on investments 90,000 90,000 0 0.00% 0.74% 0.74%
Other 60,917 55,000 (5,917) -9.71% 0.50% 0.45%
Transfers from other funds 325,000 335,000 10,000 3.08% 2.68% 2.77%
Total General Fund 12,120,546 12,106,390 14,156 -0.12% 100.00% 100.00%
iervice Funds
Taxes - 1,157,195 1,157,195 0.00% 0.00% 32.83%
Transfers from other funds - 2,367,398 2,367,398 0.00% 0.00% 67.17%
Total Debt Service Funds. - 3,524,593 3,524,593 0.00% 0.00% 100.00%
Revolving Equipment Fund
Taxes - 270,000 270,000 0.00% 0.00% 72.97%
Transfers from other funds - 100,000 100,000 0.00% 0.00% 27.03%
Total Revolvin E ui ment Fund - 370,000 370,000 0.00% 0.00% 100.00%
Water Fund
Charges for services -water 2,702,938 2,702,938 0 0.00% 98.18% 98.18%
Interest on investments 50,000 50,000 0 0.00% 1.82% 1.82%
Total Water Fund 2,752,938 2,752,938 0 0.00% 100.00% 100.00%
Fund
Charges for services -sewer 1,916,250 1,916,250 0 0.00% 97.46% 97.46%
Interest on investments 50,000 50,000 0 0.00% 2.54% 2.54%
Total Sewer Fund 1,966,250 1,966,250 0 0.00% 100.00% 100.00%
Water Quality Fund
Charges for services -storm water 425,000 425,000 0 0.00% 100.00% 100.00%
Intergovernmental revenues - 87,000 87,000 0.00% 0.00% 20.47%
Total Water Qualit Fund 425,000 512,000 87,000 20.47% 100.00% 100.00%
Transit Fund
Charges for services -transit revenue 534,661 660,886 126,225 23.61 % 100.00% 100.00%
Total Transit Fund 534,661 660,886 126,225 23.61% 100.00% 100.00%
GRAND TOTAL 17,799,395 21,893,057 4,093,662 23.00%
Page 1 of 7
04 P~Ok
ti ~ City of Prior Lake
2011 Preliminary Budget
u ~ Fund/Department Expense Summary
"'~lvxcso'~"
Council Workshop 08.16.2010
2010 2011
2010 2011 $ Change % Change % of % of
General Fund Adopted Proposed 10 -11 10 -11 Subtotal Subtotal
41110 Mayor & Council 65,453 67,365 1,912 2.92% 0.54% 0.54%
41130 Ordinance 7,000 7,000 0 0.00% 0.06% 0.06%
41320 Administration 351,576 400,463 48,887 13.91% 2.90% 3.21%
41330 Boards & Commissions 12,474 13,449 976 7.82% 0.10% 0.11%
41410 Elections 7,167 - (7,167) -100.00% 0.06% 0.00%
41520 Finance 300,327 309,379 9,052 3.01% 2.48% 2.48%
41540 Internal Auditing 28,200 28,200 0 0.00% 0.23% 0.23%
41500 Assessing 108,200 118,800 10,600 9.80% 0.89% 0.95%
41610 Legal 385,000 385,000 0 0.00% 3.18% 3.09%
41820 Personnel 131,540 145,674 14,134 10.75% 1.09% 1.17%
41830 Communications 107,382 113,076 5,695 5.30% 0.89% 0.91%
41910 Community Dev/Natural Resources 252,563 276,166 23,603 9.35% 2.08% 2.22%
41920 Technology 146,597 155,340 8,743 5.96% 1.21% _1.25%
41940 Buildings & Plant 439,126 436,206 (2,920) -0.66% 3.62% 3.50%
42100 Police 3,072,315 3,139,642 67,327 2.19% 25.35% 25.21%
42200 Fire 862,159 864,725 2,566 0.30% 7.11% 6.94%
42400 Building Inspection 363,796 390,345 26,549 7.30% 3.00% 3.13%
42500 Emergency Management 7,500 7,500 0 0.00% 0.06% 0.06%
42700 Animal Control 35,844 25,650 (10,194) -28.44% 0.30% 0.21%
43050 Engineering 375,022 418,928 43,906 11.71% 3.09% 3.36%
43100 Street 1,032,659 1,060,003 27,344 2.65% 8.52% 8.51%
43400 Central Garage 329,994 348,030 18,037 5.47% 2.72% 2.79%
45100 Recreation 403,502 402,792 (709) -0.18% 3.33% 3.23%
45200 Parks 1,310,084 1,337,029 26,945 2.06% 10.81% 10.73%
45500 Libraries 91,067 91,067 0 0.00% 0.75% 0.73%
46500 Economic Development 44,401 .150,996 106,595 240.07% 0.37% 1.21%
47000 Debt Service 1,680,600 1,713,565 32,965 1.96% 13.87% 13.76%
49999 Contingency 69,000 - (69,000) -100.00% 0.57% 0.00%
49303 Transfers 100,000 50,000 50,000 -50.00% 0.83% 0.40%
Total General Fund 12,120,546 12,456,391 335,844 2.77% 100.00% 100.00%
Debt Service Funds
47000 Debt 4,278,001 4,278,001 0.00% 0.00% 100.00%
Total Debt Service Funds 4,278,001 4,278,001 0.00% 0.00% 100.00%
Revolving Equipment Fund
Police - 90,000 90,000 0.00% 0.00% 12.97%
Fire - 73,500 73,500 0.00% 0.00% 10.59%
Public Works 530,256 530,256 0.00% 0.00% 76.43%
Total Revolvin E ui ment Fund 693,756 693,756 0.00% 0.00% 100.00%
Water Fund
41520 Finance 123,870 132,186 8,316 6.71% 4.28% 3.46%
49400 Water 2,013,522 2,913,229 899,708 44.68% 69.58% 76.18%
49303 Transfers 756,393 778,511 22,118 2.92% 26.14% 20.36%
Total Water Fund 2,893,785 3,823,926 930,142 32.14% 100.00% 100.00%
Sewer Fund
41520 Finance - - 0 0.00% 0.00% 0.00%
49003 Lift Station Upgrade - - 0 0.00% 0.00% 0.00%
49005 CIPP Pipe Slip Lining 150,000 - (150,000) -100.00% 5.18% 0.00%
49450 Sewer 2,234,546 2,618,269 383,722 17.17% 77.22% 68.47%
49303 Transfers 298,404 310,322 .11,918 0.00% 10.31% 8.12%
Total Sewer Fund 2,682,950 2,928,591 245,640 9.16% 92.71% 76.59%
Water Quality Fund
49420 Water Quality 443,367 906,906 463,539 104.55% 100.00% 100.00%
Total Water Qualit Fund 443,367 906,906 463,539 104.55% 100.00% 100.00%
Transit Fund
49804 Transit Services 1,144,473 851,893 (292,581) -25.56% 100.00% 100.00%
Total Transit Fund 1,144,473 851,893 292,581 -25.56% 100.00% 100.00%
GRAND TOTAL 19,285,120 25,939,463 6,654,342 34.51%
Page 1 of 1
TAX PER CAPITA COMPARISONS
2007 2008
Council Worksession 08.16.2010
Estimate
2009 2010 2011
Population 21,542
Total Tax Levies 8,718,777
Total Tax Levies/Capita 404.73
Tax Capacity-Based Levy 7,736,828
TC Levy/Capita 359.15
Market Value-Based Levy 981,949
MV Levy/Capita 45.58
221.11 22917 22917 22917
9,365,437 9,881,555 10,079,186 10,114,124
423.56 431.19 439.81 441.34
8,365,126 8,841,999 8,994,287 9,008,762
378.32 385.83 392:47 393,10
1,000,311 1, 039,614.00 1,084,899.00 1,105,362.00
45.24 45.36 47.34 48.23
SAVAGE
Population 25,065 25,293 26,852
Tax Capacity-Based Levy 13,489,564 14,393,971 15,185,806
TC Levy(Capita 538.18 569:09 565.54
SHAKOPEE
Population 30,971 32,567 33,969
Tax Capacity-Based Levy 12,479,048 14,000,158 14,717,476
TC Levy/Capita: 402.93 429.89 433.26
LAKEVILLE
Population 52,323 53,829 54,328
Tax Capacity-Based Levy 19,529,019 22,271,276 23,113,015
TC Levy/Capita 373.24 413.74 425.43
APPLE VALLEY
Population 48,832 49,456 .49,983
Tax Capacity-Based Levy 19,225,529 20,098,664 21,036,960
TC Levy/Capita 393.71. 406.39 420.88
CHANHASSEN
Population 22,017 22,395 22,590
Tax Capacity-Based Levy 8,453,365 8,918,422. 8,970,949
TC Levy/Capita.. 383.95 398.23 397.12
ROSEMOUNT
Population 20,207 20,917. 20,956
Tax Capacity-Based Levy 10,360,442 11,184,627 11,281,548
TC Levy/Capita 512.72 534.71 538.34
Tax Per Capita Comparisons 8/13/2010
CITY OF PRIOR LAKE COUNCIL WORKSHOP 08.16.2010
PROPERTY TAX PROJECTIONS
General 7,004,828 7,020,503 6,966,052 7,212,517 7,661,820 7,929,856 7,020,503
Equipment Fund 250,000 260,000 270,000 280,000 290,000 320,000 260,000
Revolving Park Equip Fund - - - - - - -
Facilities Management Fund - - - - - 135,000 -
Debt 2 626 727 2 798 683 2 882 557 3,082 281 3,226,968 3,212,074 2,798,683
9.44155E 10.079.196 10.11a,F^9 10,F74,799 11,178,788 11,596,930
. 10,079,186
-
Revenues: . ..
MV Debt Service Levies (64,165) - - - - - -
TC Park Matrix 15,675 -
Changes in Non-Property Tax Rey 420,593 (40,295) 30,675 (15,214) (16,716) (20,237) (61,787)
372,103 (40,295) 30,675 (15,214) (16,716) (20,237) (61,787)
Expentlitures:
Personnel (268,125) 495,584 270,618 281,417 292,646 304,323 1,644,589
Allocation of Overhead - - - - - - -
Current Expenditures (34,774) 6,795 144,368 133,699 127,710 166,541 579,113
Capital0utlay (30,970) (83,050) - - - - (83,050)
CapitalOutlay-Technology (24,425) 445 - - - - 445
Transfers to Other Funds (Debt) 54,866 32,965 50,804 49,400 (135,604) 19,963 17,528
Contingency (231,000) (69,000) - - - - (69,000)
Transfer-Rev Park Equip Fund 100,000 (50,000) - - - - (50,000)
Fire Relief Assn ConVibution 78,000 2,105 - - - - 2,105
Reductions in Expenditures Needl - - - - - -
(356.428) 335.844 465.790 464,51E 284,752 490,827 2,041,730
)ebt:
:xisting CIP (31,209) (60,589) (52;438) (58,638) (109,837) (158,037) (439,539
Jew CIP 139,000 109,000 210,000 154,000 240,000 240,000 953,000
:DA Lease Revenue 18,880 15,000 15,000 15,000 15,000 15,000 75,000
Aarket Referendum 45,285 20,463 27,162 34,325 (160,057) 41,363 (36,744
Gh4n~e in Deht Levu 171 QE6 . s33 874 19Q 724 144.687 !14 844) 138,326 EE1,717
)they Tax Suooorted Funds:
Equipment Fund Levy 10,000 .10,000 10,000 10,000 30,000 30,000 90,000
Revolving Park Equip Fund Levy 1 - - - - - - -
Facilities Manna=meat Fund Le~••; - - 135,000
_. 135.000 270,000
Fund Balance: _ ..
Use c. ~~:::;,~: Fund Reserves - (350,000) (250,000) - - - (000,000)
Tax Levies:
General 7,020,503 6,966,052 7,212,517 7,661,820 7,929,856 8,400,446 8,400,446
Equipment Revolving Fund 260,000 270,000 280,000 290,000 320,000 350,000 350,000
Revolving Park Equip Fund - - - - - - -
Facilities Management Fund - - - - 135,000 270,000 270,000
Debt Service 2,798,683 2,882,557 3,082,281 3,226,968 3,212,074 3,350,400 3,350,400
10,079,186 0,118,609
1 10,574,798 11,178,788 11,596,930 12,370,846 12,370,846
r~h'-In~la frnm pro\ijn~.IC Vcar ~47Ra~ r~
~
y 144'_)1
"` 45R,1A4 ~nR 44)1. A1R 1A~ ~7Q O18
~
Breakdown of Ghange u~ Levies: ~~
~
General 15,675 (54,451) 246,465 449,303 268,036 470,590 1,379,943
Equipment Revolving Fund 10,000 10,000 10,000 10,000 30,000 30,000 90,000
Revolving Park Equip Fund - - - - - - -
Facildies Management Fund - - - - 135,000 135,000 270,000
Debt 171,956 83,874 199724 144,687 14,894 138326 551717
Total Change 197,631 39,423 456,189 603 990 418 142 773,916 2,291 660
General 0.22% -0.78% 3.54% 6.23% 3.50% 5.93% 19.66%
Equipment Revolving Fund 4.00 % 3.85% 3.70% 3.57% 10.34% 9.38% 34.62%
Revolving Park Equip Fund 0.00°h 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Facilities Management Fund 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Debt 6.55% 3.00%~ 6.93% 4.69% -0.46% 4.31% 19.71%
Total Change 2.00% 0.39% 4.51% 5.71% 3.74% 6.67% 22.74%
GENERAL FUND RESERVES:
Beginning Balance 5,984,435 6,053,435 5,703,435 5,453,435 5,453,435 5,453,435
Ending Balance 6,053,435 5,703,435 5,453,435 5,453,435 5,453,435 5,453,435
Reserve Percentage 48.6 % 44.1 % 40.7% 39.9% 38.5%
~° ~tSG,rt? Ptti.c1.L p-~`" ~ ~-I ~~~ . ~ ~ ~~ Q-`0 v'tt~.¢.. tR~#~-G~ /~.~0'~f' ~~ ~Ulitr'~i~~ .
ty t
IMPACT OF 2011 PROPERTY TAX LEVIES
based on estimated tax capacities and market values for 2019
2010
Zero Change
in Levy
Maintain Same
Tax Rates
New Construction*
$ 18,883,700 Preliminary
Budget
08/16/2010
TC Levy $ 8,236,878 $ 8,236,878. $ 7,879,828 $ 8,292,327 $ 8,251,353
Fiscal Disparities $ 757,409 $ 757,409 $ 757,409 $ 757,409 $ 757,409
TC Levy $ 8,994,287 $ 8,994,287 $ 8,637,237 $ 9,049,736 $ 9,008,762
TC Value $ 27,977,122 $ 26,764,377 $ 26,764,377 $ 26,764,377 $ 26,764,377
TC Rate 29.4415% 30.7755% 29.4415% 30.9827% 30.8296%
MV Levy $ 1,084,899 $ 1,084,899 $ 1,041,301 $ 1,092,442 $ 1,105,362
MV Value $ 2,709,030,400 $ 2,600,165,700 $ 2,600,165,700 $ 2,600,165,700 $ 2,600,165,700
MV Rate 0.04005% 0.04172% 0.04005% 0.04201 % 0.04251
Changes:
TC Levy $ - $ (357,050) $ 55,449 $ 14,475
MV Levy $ - $ (43,598) $ 7,543 $ 20,463
Total $ - $ (400,648) $ 62,992 $ 34,938
*Calculation of additional levy from new construction growth:
$18,833,700 x 1 % x 29.4415% (2010 TC Rate) _ $ 55,449
$18,833,700 x .04005% (2010 MV Rate) _ $ 7,543
Average Valued Home
Market Value $304,200 $304,200 $304,200: $304,200 $304,200
Tax Capacity $3,042 $3,042 $3,042 $3,042 $3;042
general tax $895.61- $936.19 $895.61 $942.49 $937:84.
m.v. tax $121.82 $126.93 $121.82 $127.81 $129;32
m.v. credit 5~ 30, -~" . '0 _e,2,; ~ 0 °„ ,0 ,ti23.3p'.
total $989.13 $1,034.81 $989.13 ~ $fi,042.00 ~ $1,038:85
change from (A) $0.00 $45.68 $0.00 $52.87 $49.72
Market Value $288,800 $288,800 $288,800 $288,800 $288,800
Tax Capacity $2;888 $2;833 `.`}2,888 $2,888 $2,888
general tax $850.27 $883.80 $850.27 $$94.78 $890.36
m.v. tax $115.66 $120.50. $115.66 $121.34 $122,77.
m.v. credit ~ -S32 22 -S32 2~ ~ ,2 20 ~~?`20 ~32~2'8
total 5933.65 $977.02 $933.65 $983.84 $980':85
change from (F) $0.00 $43.37 $U.00 $50.19 $47.20
change from (A) $ (55.49) $ (12.12) $ (55.49) $ (5.29) $ (8.28)
Breakdown of Change:
from Market Value $ (51.51) $ (53.82) $ (51.51) $ (54.18) $ (54.02)
from levy/rates $ 0.00 $ 45.68 $ 0.00 $ 52.87 $ 49.72
from MV credit $ (3.98) $ (3.98) $ (3.98) $ (3.98) $ (3.98}
$ (55.49) $ (12.12) $ (55.49) $ (5.29) $ (8.28)
O:18UDGETI20111Properfy Taxes12011 Tax Calc :Tax Scenarios 8/13/2010