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HomeMy WebLinkAboutTNT Hearing Documents Tax Values/Rates/Levy Although we had a minor change in the tax rate computation again for the year 2000, the biggest effect on the tax capacity values and rates is the fiscal disparities. The total tax capacity increased 5.3% but the taxable value only increased 2.5 %. This was due to the increase in fiscal disparity contribution. In 1999 we contributed $547,278 and in 2000 we will contribute $784,872, a 43.4% increase. The amount of distribution we receive was a very minimal decrease, 1999 was $299,919 and 2000 will be $298,275, a (.55 %) decrease. The increase in contribution was due to the commercial growth we experienced. We also dropped the $25,000 levy on the Storm Sewer District and added that amount to the General Levy. Not the entire City had the Storm Sewer Levy on their taxes, so this will be a slight increase for the residents who did not have the Storm Sewer. We are still well below our General Levy Limit of $1,641,480. This limit does not include Debt Levy. December 2, 1999 To: Mayor and Council From: Judy Holst, Deputy Clerk/Finance Director Re: Proposed Budget Changes In an effort to reduce the tax levy and tax capacity rate, I have made several changes to the proposed 2000 budget. I also took into account the changes made in the life and long -term disability insurance. The changes made were as follows: General Fund Revenues Decrease General Property Taxes $70,200 from $1,451,000 to $1,380,800 Increase Payment in Lieu of Taxes $25,000 from $20,000 to $45,000 Increase Building Permits $20,000 from $185,000 to $205,000 Increase Plumbing Permits $5,000 from $15,000 to $20,000 Increase Other Fines and Forfeits $2,000 from $3,000 to $5,000 Increase Police Aid $5,000 from $52,000 to $57,000 Increase General Government $1,000 from $10,000 to $11,000 Increase Burglar Alarms $1,000 from $1,200 to $2,200 Increase Charges to Other Fund $15,000 from $100,000 to $115,000 Increase LMCIT Dividend $1,000 from $5,000 to $6,000 General Fund Expenditures Increase Employee Hospital & Life Insurance $5,000 from $99,000 to $104,000 Increase Employee Disability $175 from $4,625 to $4,800 Utilitv Fund Revenues Decrease Storm Sewer - Customer Collections $37,000 from $114,000 to $77,000 Utilitv Fund Expenditures Increase Water - Employee Hospital & Life Insurance $500 from $11,500 to $12,000 Increase Water - Employee Disability Insurance $175 from $375 to $550 Increase Sewer - Employee Hospital & Life Insurance $500 from $11,500 to $12,000 Increase Sewer - Employee Disability Insurance $175 from $375 to $550 Decrease Storm Sewer - Travel, Conference, Schools $500 from $1,000 to $500 Decrease Storm Sewer -Other Contractual Services $34,695 from $55,000 to $20,305 Decrease Storm Sewer - Chemical Supplies $250 from $500 to $250 Decrease Storm Sewer -Other Material & Supplies $2000 from $3,000 to $1,000 Decrease Storm Sewer - Rental of Equipment $500 from $2,500 to $2,000 Increase Storm Sewer - Employee Hospital & Life Insurance $290 from $3,660 to $3,950 Increase Storm Sewer - Employee Disability Insurance $125 from $50 to $175 Proposed Budget Changes December 2, 1999 Page 2 To arrive at the changes, I looked at revenues and expenditures through October 1999 along with new projections for permits and payment in lieu of taxes in 2000. With VSSA going ahead with the apartments, campus, etc. I feel the increase in permits is justified. After computing the storm sewer charges for October 1999, it was discovered the revenues would not be as projected, therefore we adjusted revenues and cut expenditures in the Utility Storm Sewer Fund to reflect the new projections. Attached are revised sheets for your Proposed Budget Book. Class Rate Schedule Property Type Payable Payable 1999 2000 Residential Homestead: <$76,000' 1.00% 1.00% >$76,000 1.70 1.65 Residential Non - homestead: Single unit: <376,0001 1.25 1.20 >$76,000 1.70 1.65 2 -3 unit and undeveloped land 1.70 1.65 Market -rate Apartments: Regular 2.50 2.40 Small City 2.15 2.15 Low- income Apartments: Title II Farmer's Home Administration New Class 4d 1.00 1.00 Commercial /Industrial /Public Utility: <$150,000' 2.45 2.40 >$150,000 3.50 3.40 Seasonal Recreational Commercial: Homestead resorts (lc) 1.00 1.00 Seasonal resorts (4c) 1.80 1.65 Seasonal Recreational Residential: <$76,000' 1.25 1.20 >$76,000 2.20 1.65 Disabled Homestead ( <$32,000) 0.45 0.45 Agricultural Land & Buildings: Homestead: <$115,000 0.35 0.35 $115,000 - $600,000: <320 acres 0.80 0.80 >320 acres 1.25 0.80 >$600,000: <320 acres 0.80 1.20 >320 acres 1.25 1.20 Non- homestead 1.25 1.20 Education Homestead Credit: Rate 66.2% 83% Maximum $320 $390 Education Agricultural Credit: Homestead - 54 Nonhomestead - 500 'First tier limit was $72,000 for payable 1997,$75,000 for payable 1998 and 1999. 'First tier limit was $100,000 for payable 1997. RESIDENTIAL - HOMESTEAD Taxable Market Value for Taxes Payable in 1999: 114,700 Taxable Market Value for Taxes Payable in 2000: 119,300 Addresses for (1) (2) (3) (4) Budget Hearing 1999 Increase or Increase or Proposed 2000 Correspondence Property Tax Decrease Due to Decrease Due to Property Tax Dates and Locations Spending Other Factors WASHINGTON COUNTY $ 428.96 $ 36.16 $ 48.97 -$ 416.15 BOARD ROOM 14949 62ND ST N PO BOX 6 DECEMBER 2, 1999 STILLWATER, MN 55082 7:00 PM 651 -430 -6175 CITY OF OAK PARK HEIGHTS 326.25 32.63 7.17 366.05 OAK PARK CITY HALL D PO BOX 2007 14168 - 57TH ST N OAK PARK HGTS, MN 55082 7:00 PM DEC.6, 1999 651 - 439 -4439 x I�, 11 ` School District: 0834 1875 GREELEY ST CENTRAL SVC BUILDG 5, a STILLWATER, MN 55082 1875 S GREELEY 651 - 351 -8321 7:00 PM DEC.9,1999 State determined levy: 220.64 0.00 90.74 - 129.90 Voter approved levies 325.59 2.70 22.72- 305.57 Other local levies 80.98 36.87 43X - _-,88 SPECIAL TAXING DISTRICTS METRO. SPECIAL TAX DISTS: 86.22 7.23 8. 85 .10 6:00 PM DECEMBER 1, 1999 MEARS PARK CENTRE MEARS PARK CENTRE � 230 EAST FIFTH STREET 230 EAST FIFTH STREET ST. PAUL, MN 55101 ST. PAUL, MN 55101 1 t 651 - 602 -1738 Other Spec. Tax Districts: 11.36 1.18 1.19- 11.35 NO MEETING REQUIRED Cv Tax Increment Tax: 0.00 0.00 0.00 0.00 NO MEETING REQUIRED . Fiscal Disparity Tax: 0.00 0.00 0.00 0.00 NO MEETING REQUIRED Total: $ 1,480.00 $ 116.77 $ 208.77 -$ 1,388.00 Percent change (proposed 2000 total tax over 1999 total tax): 6.2- Example of Property Impact with Budget Changes - Includes General Levy, Debt Levy and Storm Sewer Levy Actual Proposed 1999 2000 Gross Levy 1,484,383 1,519,783 Less State Aids (74,983) (79,583) Certified Levy 1,409,400 1,440,200 Less FD (91,050) (70,515) Local Levy 1,318,350 1,369,685 Taxable Value 5,650,770 5,793,637 Tax Rate .23728 .23622 Example - residential home with increase in market value from $114,700 to $119,300. 4% market value increase. 1999 - $114,700 2000 - $119,300 1st 75,000 @ 1% 750.00 1st 76,000 @ 1% 760.00 1.70% over $75,000 674.90 1.65% over $76,000 714.45 Tax Capacity 1,424.90 Tax Capacity 1,474.45 x Tax Rate 0.23728 x Tax Rate 0.23622 Total Tax 338.10 Total Tax 348.29 Increase in Tax 3.02% 10.19 Example - residential home with 1999 market value of $114,700. Impact if market value and tax rate remain constant. This reflects changes due to state tax computation. 1999 2000 1st 75,000 @ 1% 750.00 1st 76,000 @ 1% 760.00 1.70% over $75,000 674.90 1.65% over $76,000 641.85 Tax Capacity 1,424.90 Tax Capacity 1,401.85 x Tax Rate .23728 x Tax Rate .23728 Total Tax 338.10 Total Tax 332.63 Decrease in Tax (1.62%) (5.47) Example - residential home with 1999 market value ($114,700) increased to $119,300 in 2000 using 2000 tax computation and tax rate. This reflects change due to market value increase. 1999- - $114,700 2000 - $119,300 1st 76,000 @ 1% 760.00 1st 76,000 @ 1% 760.00 1.65% over $76,000 638.55 1.65% over $76,000 714.45 Tax Capacity 1,398.55 Tax Capacity 1,474.45 x Tax Rate 0.23622 x Tax Rate 0.23622 Total Tax 330.37 Total Tax 348.29 Increase in Tax 5.43% 17.93 The decrease in tax due to the tax levy is ($2.27) or (.67 %) 12/2/99 Page 1 OOTAXIMP.XLS Example of Property Impact with Budget Changes - Includes General Levy and Debt Levy Actual Proposed 1999 2000 Gross Levy 1,459,383 1,519,783 Less State Aids (74,983) (79,583) Certified Levy 1,384,400 1,440,200 Less FD (89,435) (70,515) Local Levy 1,294,965 1,369,685 Taxable Value 5,650,770 5,793,637 Tax Rate .22895 .23622 Example - residential home with increase in market value from $114,700 to $119,300. 4% market value increase. 1999 - $114,700 2000 - $119,300 1st 75,000 @ 1% 750.00 1st 76,000 @ 1% 760.00 1.70% over $75,000 674.90 1.65% over $76,000 714.45 Tax Capacity 1,424.90 Tax Capacity 1,474.45 x Tax Rate .22895 x Tax Rate .23622 Total Tax 326.23 Total Tax 348.29 Increase in Tax 6.76% 22.06 Example - residential home with 1999 market value of $114,700. Impact if market value and tax rate remain constant. This reflects changes due to state tax computation. 1999 2000 1st 75,000 @ 1% 750.00 1st 76,000 @ 1% 760.00 1.70% over $75,000 674.90 1.65% over $76,000 641.85 Tax Capacity 1,424.90 Tax Capacity 1,401.85 x Tax Rate .22895 x Tax Rate .22895 Total Tax 326.23 Total Tax 320.95 Decrease in Tax (1.62%) (5.28) Example - residential home with 1999 market value ($114,700) increased to $119,300 in 2000 using 2000 tax computation and tax rate. This reflects change due to market value increase. 1999 - $114,700 2000 - $119,300 1st 76,000 @ 1% 760.00 1st 76,000 @ 1% 760.00 1.65% over $76,000 638.55 1.65% over $76,000 714.45 Tax Capacity 1,398.55 Tax Capacity 1,474.45 x Tax Rate .23622 x Tax Rate .23622 Total Tax 330.37 Total Tax 348.29 Increase in Tax 5.43% 17.93 The increase in tax due to levy increase is $9.41 or 2.88 %. 12/6/99 Page 2 OOTAXIMP.XLS Example of Property Impact with Budget Changes - Includes General Levy, Debt Levy and Storm Sewer Levy Actual Proposed 1999 2000 Gross Levy 1,484,383 1,519,783 Less State Aids (74,983) (79,583) Certified Levy 1,409,400 1,440,200 Less FD (91,050) (70,515) Local Levy 1,318,350 1,369,685 Taxable Value 5,650,770 5,793,637 Tax Rate .23728 .23622 Example - commercial property valued at $150,000 1999 2000 1st $150,000 @ 2.45% 3,675.00 1st $150,000 @ 2.40% 3,600.00 x Tax Rate .23728 x Tax Rate .23622 Total Tax 872.00 Total Tax 850.39 Decrease in Tax (2.48%) (21.61) Example - commercial property valued at $300,000 1 999 2000 1st $150,000 @ 2.45% 3,675.00 1st $150,000 @ 2.40% 3,600.00 Over $150,000 @ 3.50% 5,250.00 Over $150,000 @ 3.40% 5,100.00 Tax Capacity 8,925.00 Tax Capacity 8,700.00 x Tax Rate .23728 x Tax Rate .23622 Total Tax 2,117.72 Total Tax 2,055.11 Decrease in Tax (2.96 %) (62.61) 12/6/99 Page 3 00TAXIMP.XLS Example of Property Impact with Budget Changes - Includes General Levy and Debt Levy Actual Proposed 1999 2000 Gross Levy 1,459,383 1,519,783 Less State Aids (74,983) (79,583) Certified Levy 1,384,400 1,440,200 Less FD (89,435) (70,515) Local Levy 1,294,965 1,369,685 Taxable Value 5,650,770 5,793,637 Tax Rate .22895 .23622 Example - Commercial Property Valued at $150,000 1999 2000 1st $150,000 @ 2.45% 3,675.00 1st $150,000 @ 2.40% 3,600.00 x Tax Rate .22895 x Tax Rate .23622 Total Tax 841.39 Total Tax 850.39 Increase in Tax 1.07% 9.00 Example - Commercial Property Valued at $300,000 1 999 2000 1st $150,000 @ 2.45% 3,675.00 1st $150,000 @ 2.40% 3,600.00 Over $150,000 @ 3.50% 5,250.00 Over $150,000 @ 3.40% 5,100.00 Tax Capacity 8,925.00 Tax Capacity 8,700.00 x Tax Rate .22895 x Tax Rate .23622 Total Tax 2,043.38 Total Tax 2,055.11 Increase in Tax 0.57% 11.74 12/6/99 Page 4 00TAXIMP.XLS Example of Property Impact with Budget Changes - Includes General Levy, Debt Levy and Storm Sewer Levy Actual Proposed 1999 2000 Gross Levy 1,484,383 1,519,783 Less State Aids (74,983) (79,583) Certified Levy 1,409,400 1,440,200 Less FD (91,050) (70,515) Local Levy 1,318,350 1,369,685 Taxable Value 5,650,770 5,793,637 Tax Rate .23728 .23622 Example - residential home with increase in market value from $114,700 to $119,300. 4% market value increase. 1999 - $114,700 2000 - $119,300 1st 75,000 @ 1% 750.00 1st 76,000 @ 1% 760.00 1.70% over $75,000 674.90 1.65% over $76,000 714.45 Tax Capacity 1,424.90 Tax Capacity 1,474.45 x Tax Rate .23728 x Tax Rate .23622 Total Tax 338.10 Total Tax 348.29 Increase in Tax 3.02% 10.19 The impact the change in class rate has on the taxes is (1.62 %) decrease The impact the change in market value has on the taxes is 5.43% increase. The impact the change in tax rate is (.67 %) decrease. 12/6/99 Page 5 OOTAXIMP.XLS Example of Property Impact with Budget Changes - Includes General Levy and Debt Levy Actual Proposed 1999 2000 Gross Levy 1,459,383 1,519,783 Less State Aids (74,983) (79,583) Certified Levy 1,384,400 1,440,200 Less FD (89,435) (70,515) Local Levy 1,294,965 1,369,685 Taxable Value 5,650,770 5,793,637 Tax Rate .22895 .23622 Example - residential home with increase in market value from $114,700 to $119,300. 4% market value increase. 1999 - $114,700 2000 - $119,300 1st 75,000 @ 1% 750.00 1st 76,000 @ 1% 760.00 1.70% over $75,000 674.90 1.65% over $76,000 714.45 Tax Capacity 1,424.90 Tax Capacity 1,474.45 x Tax Rate .22895 x Tax Rate .23622 Total Tax 326.23 Total Tax 348.29 Increase in Tax 6.76% 22.06 The impact the change in class rate has on the taxes is (1.62 %) decrease The impact the change in market value has on the taxes is 5.43% increase. The impact the change in tax rate is 2.88% increase. 12/6/99 Page 6 OOTAXIMP.XLS Example of Property Impact with Budget Changes - Includes General Levy, Debt Levy and Storm Sewer Levy Actual Proposed 1999 2000 Gross Levy 1,484,383 1,519,783 Less State Aids (74,983) (79,583) Certified Levy 1,409,400 1,440,200 Less FD (91,050) (70,515) Local Levy 1,318,350 1,369,685 Taxable Value 5,650,770 5,793,637 Tax Rate .23728 .23622 Example - residential home with increase in market value from $114,700 to $119,300. 4% market value increase. 1999 - $114,700 2000 - $119,300 1st 75,000 @ 1% 750.00 1st 76,000 @ 1% 760.00 1.70% over $75,000 674.90 1.65% over $76,000 714.45 Tax Capacity 1,424.90 Tax Capacity 1,474.45 x Tax Rate .23728 x Tax Rate .23622 Total Tax 338.10 Total Tax 348.29 Increase in Tax 3.02% 10.19 The impact the change in class rate has on the taxes is (1.62 %) decrease The impact the change in market value has on the taxes is 5.43% increase. The impact the change in tax rate is (.67 %) decrease. Example of Property Impact with Budget Changes - Includes General Levy, Debt Levy and Storm Sewer Levy Example - residential home with 1999 market value of $114,700. Impact if market value and tax rate remain constant. This reflects changes due to state tax computation. 1999 2000 1st 75,000 @ 1% 750.00 1st 76,000 @ 1% 760.00 1.70% over $75,000 674.90 1.65% over $76,000 641.85 Tax Capacity 1,424.90 Tax Capacity 1,401.85 x Tax Rate .23728 x Tax Rate .23728 Total Tax 338.10 Total Tax 332.63 Decrease in Tax (1.62 %) (5.47) Example - residential home with 1999 market value ($114,700) increased to $119,300 in 2000 using 2000 tax computation and tax rate. This reflects change due to market value increase. 1999 - $114,700 2000 - $119,300 1st 76,000 @ 1% 760.00 1st 76,000 @ 1% 760.00 1.65% over $76,000 638.55 1.65% over $76,000 714.45 Tax Capacity 1,398.55 Tax Capacity 1,474.45 x Tax Rate .23622 x Tax Rate .23622 Total Tax 330.37 Total Tax 348.29 Increase in Tax 5.43% 17.93 The decrease in tax due to the tax levy is ($2.27) or (.67 %) 12/6/99 OOTAXIMP.XLS Example of Property Impact with Budget Changes - Includes General Levy and Debt Levy Example - residential home with 1999 market value of $114,700. Impact if market value and tax rate remain constant. This reflects changes due to state tax computation. 1999 2000 1st 75,000 @ 1% 750.00 1st 76,000 @ 1% 760.00 1.70% over $75,000 674.90 1.65% over $76,000 641.85 Tax Capacity 1,424.90 Tax Capacity 1,401.85 x Tax Rate .22895 x Tax Rate .22895 Total Tax 326.23 Total Tax 320.95 Decrease in Tax (1.62 %) (5.28) Example - residential home with 1999 market value ($114,700) increased to $119,300 in 2000 using 2000 tax computation and tax rate. This reflects change due to market value increase. 1999 - $114,700 2000 - $119,300 1st 76,000 @ 1% 760.00 1st 76,000 @ 1% 760.00 1.65% over $76,000 638.55 1.65% over $76,000 714.45 Tax Capacity 1,398.55 Tax Capacity 1,474.45 x Tax Rate .23622 x Tax Rate .23622 Total Tax 330.37 Total Tax 348.29 Increase in Tax 5.43% 17.93 The increase in tax due to levy increase is $9.41 or 2.88 %. 12/6/99 OOTAXIMP.XLS Example of Property Impact with Budget Changes - Includes General Levy, Debt Levy and Storm Sewer Levy Actual Proposed 1999 2000 Gross Levy 1,484,383 1,519,783 Less State Aids (74,983) (79,583) Certified Levy 1,409,400 1,440,200 Less FD (91,050) (70,515) Local Levy 1,318,350 1,369,685 Taxable Value 5,650,770 5,793,637 Tax Rate .23728 .23622 Example - commercial property valued at $150,000 1999 2000 1st $150,000 @ 2.45% 3,675.00 1st $150,000 @ 2.40% 3,600.00 x Tax Rate .23728 x Tax Rate .23622 Total Tax 872.00 Total Tax 850.39 Decrease in Tax (2.48 %) (21.61) Example - commercial property valued at $300,000 1999 2000 1st $150,000 @ 2.45% 3,675.00 1st $150,000 @ 2.40% 3,600.00 Over $150,000 @ 3.50% 5,250.00 Over $150,000 @ 3.40% 5,100.00 Tax Capacity 8,925.00 Tax Capacity 8,700.00 x Tax Rate .23728 x Tax Rate .23622 Total Tax 2,117.72 Total Tax 2,055.11 Decrease in Tax (2.96%) (62.61) Example of Property Impact with Budget Changes - Includes General Levy and Debt Levy Actual Proposed 1999 2000 Gross Levy 1,459,383 1,519,783 Less State Aids (74,983) (79,583) Certified Levy 1,384,400 1,440,200 Less FD (89,435) (70,515) Local Levy 1,294,965 1,369,685 Taxable Value 5,650,770 5,793,637 Tax Rate .22895 .23622 Example - Commercial Property Valued at $150,000 1999 2000 1st $150,000 @ 2.45% 3,675.00 1st $150,000 @ 2.40% 3,600.00 x Tax Rate .22895 x Tax Rate .23622 Total Tax 841.39 Total Tax 850.39 Increase in Tax 1.07% 9.00 Example - Commercial Property Valued at $300,000 1999 2000 1st $150,000 @ 2.45% 3,675.00 1st $150,000 @ 2.40% 3,600.00 Over $150,000 @ 3.50% 5,250.00 Over $150,000 @ 3.40% 5,100.00 Tax Capacity 8,925.00 Tax Capacity 8,700.00 x Tax Rate .22895 x Tax Rate .23622 Total Tax 2,043.38 Total Tax 2,055.11 Increase in Tax 0.57% 11.74 Example of Property Impact with Budget Changes - Includes General Levy and Debt Levy Actual Proposed 1999 2000 Gross Levy 1,459,383 1,519,783 Less State Aids (74,983) (79,583) Certified Levy 1,384,400 1,440,200 Less FD (89,435) (70,515) Local Levy 1,294,965 1,369,685 Taxable Value 5,650,770 5,793,637 Tax Rate .22895 .23622 Example - residential home with increase in market value from $114,700 to $119,300. 4% market value increase. 1999 - $114,700 2000 - $119,300 1st 75,000 @ 1% 750.00 1st 76,000 @ 1% 760.00 1.70% over $75,000 674.90 1.65% over $76,000 714.45 Tax Capacity 1,424.90 Tax Capacity 1,474.45 x Tax Rate .22895 x Tax Rate .23622 Total Tax 326.23 Total Tax 348.29 Increase in Tax 6.76% 22.06 The impact the change in class rate has on the taxes is (1.62 %) decrease The impact the change in market value has on the taxes is 5.43% increase. The impact the change in tax rate is 2.88% increase.