HomeMy WebLinkAboutLevy Limit Calculation 1988 _TY OF OAK PARK HEIGHTS, MINNES, .
LEVY LIMITATION CALCULATION - VARIANCE
1987/1988
Item /Description State Variance Adjusted
1. Total Property Tax Levy - 1986/1987 $792,781 $792,781
2. Payable 1987 Special Levies
A. Principal and Interest on Bonds (22,854) $ 24,823 (47,677)
3. 1987 State Aids
A. Local Government Aid 99,651 -0- 99,651
4. Beginning Levy Limit Base 869,578 $(24,823) 844,755
5. Adjustment for Growth 1.115 1.115
6. Population /Household Adjusted
1988 Levy Limit Base 969,579 941,902
7. Inflation Adjustment 1.03 1.03
8. Inflation - Adjusted 1988 Levy Limit
Base 998,666 970,159
9. Levy Limit Base Adjustment By Appeal -0- -0-
10. Final Adjusted 1988 Levy Limit Base 998,666 970,159
11. 1988 Aids
A. Local Government Aid (99,521) (99,521)
12. Payable 1988 Levy Limitation $899,145 $870,638
The above variance results solely from the reclassification of the Storm Sewer
tax levy (plus rounding), as follows:
• Payable 1988 Levy Limitation - Original $899,145
• Adjustment /Amendment:
• Storm Sewer Tax Levy $ 24,823
• Adjustment for Growth 1.115
• Population /Household Adjusted 27,677
• Inflation Adjustment 1.03 (28,507)
• Payable 1988 Levy Limitation - As
Adjusted /Amended $870,638
NOTE:
• 1986/1987 Certified Bonded Debt Tax Levies:
• Special Assessment Bonds $ 22,500
• Storm Sewer District Bonds 25,177
Total $ 47,677