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Home My WebLink About11 06 2017 2018 Budget PresentationNovember 6, 2017 1 Nov. 6 –Budget Work Session Nov. 9 –Town Hall Budget meeting Dec. 4 –Public Budget meeting Dec. 4 –Adopt Final Tax Levy, Budget and Fee Schedule Tax Levy and Budget Schedule 2 Overview –2018 Preliminary Budgets 3 General Fund $12,767,768 Debt Service Funds 4,896,000 Rev. Equipment Fund 1,394,027 Facilities Mgmt Fund 873,704 PIR Fund (mill & overlay) 725,374 Other (EDA, Parks, Cable)476,161 Water Fund 6,659,524 Sewer Fund 4,742,967 Water Quality Fund 998,669 Total $33,533,514 4 2018 Property Tax Levy Comparison Change 17 - 18 2017 2018 Amount Percent Total Preliminary Levy 9.18.2017 11,568,155$ 12,111,574$ 543,419$ 4.70% Total Proposed Levy 11.06.2017 11,568,155$ 12,077,538$ 509,383$ 4.40% Total Proposed Levy Reduction -$ (34,036)$ (34,036)$ -0.29% Property Taxes Budget revisions resulted in a tax levy reduction of ($34k) ($84k) General Fund $50k Revolving Equipment 2018 Budget Revisions 5 General Fund Budget revisions Added State Aid Revenue (Police & Fire) Added Revenue Reimbursement from the SW Drug Taskforce Reduced the Fuel Budget Reduced the Benefit Budget Increased the Personnel Budget Maintenance worker 1/1 start instead of 7/1 start Add PT Police CSO 2018 Budget Revisions (cont.) 6 Revolving Equipment Budget revisions Increased the Revolving Equipment Levy by $50,000 $50,000 was previously cut from the 2018 budget. This reestablishes the 2018 tax levy as outlined in the CIP long range plan 2018 Budget Revisions (cont.) 7 8 2018 Property Tax Levy Comparison 2018 Property Tax Levy Comparison Change 17 - 18 Property Taxes 2017 2018 Amount Percent Levy - Tax Capacity General Fund - Operating 7,192,793$ 7,779,182$ 586,389$ 8.15% Debt Service Funds 2,628,937 3,142,620 513,683 19.54% Revolving Equipment Fund 375,000 550,000 175,000 46.67% Revolving Park Equipment Fund 213,406 238,184 24,778 11.61% Facilities Management Fund - - - n/a 10,410,136$ 11,709,986$ 1,299,850$ 12.49% Levy - Market Value - General Fund 1,018,019 227,552 (790,467) -77.65% Levy - Economic Dev Authority 140,000 140,000 - 0.00% Total Levy 11,568,155$ 12,077,538$ 509,383$ 4.40% Public safety identified as the most important aspect for “quality of life” measure. 60% of respondents support a tax increase to hire more police officers. As for city services other than public safety, 96% of respondents said street repair and maintenance and 97% said snow removal are essential or very important city services Staff Adds in relation to Resident Survey 9 Vehicles/Equipment: Police –New Squad Car for proposed police officer add in 2018 Fire –Engine 9220 replacement Parks –5 Ton Dump Truck Long Term Plans-2018 Major Purchases 10 Facilities: Fire Station #1 SCBA Packs & Fill Station Fire Station #1 Parking Lot & Sidewalk Long Term Plans-2018 Major Purchases 11 2018 Parks Trail Replacement budget reduced to zero ($130,000 budget cut) Prior Years budget also reduced as a mean of reducing the overall tax levy. Long Term Plans-Park Plan Funding Option 12 2018 Property Tax Levy Comparison Change 17 - 18 Property Taxes 2017 2018 Amount Percent Levy - Tax Capacity General Fund - Operating 7,192,793$ 7,779,182$ 586,389$ 8.15% General Fund - Debt - n/a Debt Service Funds 2,628,937 3,142,620 513,683 19.54% Revolving Equipment Fund 375,000 550,000 175,000 46.67% Revolving Park Equipment Fund 213,406 238,184 24,778 11.61% Facilities Management Fund - - - n/a 10,410,136$ 11,709,986$ 1,299,850$ 12.49% Levy - Market Value - General Fund 1,018,019 227,552 (790,467) -77.65% Levy - Economic Dev Authority 140,000 140,000 - 0.00% Total Levy 11,568,155$ 12,077,538$ 509,383$ 4.40% $195,000 in “one-time” funds are available One-time revenue/One-time expenditure Equipment Trail replacement Street project Long Term Plans-Park Plan Funding Option (cont.) 13 Staff proposal of one time funding for trail replacement This supports the resident feedback at the 2040 Vision Meeting –support for trail replacement. One mile of trail replacement costs ~$106,000 (Currently 80 miles of city trails) Long Term Plans-Park Plan Funding Option (cont.) 14 Wilds Parkway 15 Fairway Heights 16 EMV -$3.99B (+9.51%) Residential -$3.04B (+11.34%) New Construction -$62.07M (38.77%) TMV -$3.29B (+12.10%) Pay 2018 Preliminary Property Values 17 $322,000 home –no change in MV Projected tax decrease of ($78.69) (-7.7%) 18 Preliminary 2018 Tax Levy Impact 11.06.2017 Net MV Tax Net Net MV Tax Net Net Net Payable Payable Payable Payable Payable Payable Inc/Dec Difference Inc/Dec 2017 2018 2017 2017 2017 2018 2018 2018 17 vs 18 % Change No Change 322,000$ 322,000$ 1,025.46$ 110.24$ 1,135.70$ 1,034.73$ 22.27$ 1,057.01$ (78.69)$ -7.7% Prior Lake CITY portion of taxes only: Tax capacity change 9.27$ MV tax change (87.96)$ Total Change (78.69)$ % EMV Value Range Avg Market Value Avg Market Value Pay 2018 Resident Impact City tax portion only (cont.) 600,000 home –no change in MV Projected tax decrease of($145.44) (-7.1%) 19 Preliminary 2018 Tax Levy Impact 11.06.2017 Net MV Tax Net Net MV Tax Net Net Net Payable Payable Payable Payable Payable Payable Inc/Dec Difference Inc/Dec 2017 2018 2017 2017 2017 2018 2018 2018 17 vs 18 % Change No Change 600,000$ 600,000$ 2,042.82$ 205.41$ 2,248.23$ 2,061.29$ 41.50$ 2,102.79$ (145.44)$ -7.1% Prior Lake CITY portion of taxes only: Tax capacity change 18.47$ MV change (163.90)$ Total Change (145.44)$ % EMV Value Range Avg Market Value Avg Market Value Pay 2018 Resident Impact City tax portion only (cont.) $338,100 Home (5% MV increase) Projected tax decrease of($19.70) (-1.9%) Pay 2018 Resident Impact City tax portion only (cont.) 20 % Net Net of Inc/Dec Difference Inc/Dec Total 2017 2018 17 vs 18 % Change +15.01+%1,988 22%322,000$ 370,300$ 98.28$ 9.6% +10.01-15.00%819 9%322,000$ 362,250$ 68.79$ 6.7% +5.01-10.00%2,148 24%322,000$ 346,150$ 9.80$ 1.0% +0.01-5.00%3,621 41%322,000$ 338,100$ (19.70)$ -1.9% No Change 2 0%322,000$ 322,000$ (78.69)$ -7.7% -0.01-5.00%162 2%322,000$ 313,950$ (108.19)$ -10.6% -5.01 - 10.00%125 1%322,000$ 297,850$ (167.18)$ -16.3% -10.00 - 15.00%49 1%322,000$ 281,750$ (226.17)$ -22.1% -15.01% +4 0%322,000$ 273,700$ (255.67)$ -24.9% 8,918 100% Prior Lake CITY portion of taxes only: Tax capacity change 67.15$ MV tax change (86.85)$ Total Change (19.70)$ % EMV Value Range # of affected Properties Avg Market Value Avg Market Value $630,000 Home (5% MV increase) Projected tax decrease of($19.70) (-1.9%) 21 Preliminary 2018 Tax Levy Impact 11.06.2017 % Net Net of Inc/Dec Difference Inc/Dec Total 2017 2018 17 vs 18 17 vs 18 % Change +15.01+%1,988 22%600,000$ 690,000$ 15.00%231.82$ 11.3% +10.01-15.00%819 9%600,000$ 675,000$ 12.50%168.95$ 8.3% +5.01-10.00%2,148 24%600,000$ 645,000$ 7.50%43.19$ 2.1% +0.01-5.00%3,621 41%600,000$ 630,000$ 5.00%(19.68)$ -1.0% No Change 2 0%600,000$ 600,000$ 0.00%(145.44)$ -7.1% -0.01-5.00%162 2%600,000$ 585,000$ -2.50%(208.31)$ -10.2% -5.01 - 10.00%125 1%600,000$ 555,000$ -7.50%(334.06)$ -16.4% -10.00 - 15.00%49 1%600,000$ 525,000$ -12.50%(459.82)$ -22.5% -15.01% +4 0%600,000$ 510,000$ -15.00%(522.69)$ -25.6% 8,918 100% Prior Lake CITY portion of taxes only: Tax capacity change 142.15$ MV tax change (161.83)$ Total Change (19.68)$ % EMV Value Range # of affected Properties Avg Market Value Avg Market Value Taxable % Change Pay 2018 Resident Impact City tax portion only (cont.) 22 Personnel -$584k Police drug task force officer -10/1/17 Police Officer –1/1/18 Police PT CSO –1/1/18 Maintenance Worker –1/1/18 COLA and health care premiums Repair and Maintenance-$92k Capital outlay ($67k) Debt Transfer ($790k) General Fund Changes from 2017 Amended to 2018 proposed budget 23 Scott County Tax Capacity Rate by City 24 City 2017 Belle Plaine 84.68% Elko New Market 47.82% Jordan 71.24% New Prague 62.25% Prior Lake 32.69% Savage 47.84% Shakopee 38.52%