HomeMy WebLinkAboutTNT Hearing DocumentCity of Oak Park Heights
2011 Annual Budget
2011 Annual Budget
Table of Contents
City Officials 3
Budget Process 4
General Fund Revenues 6
General Fund Expenditures 8
Tax Levies, Tax Capacity and Tax Capacity Rate 10
Utility Fund Revenues and Expenditures 12
Debt Service Funds 13
Budgeted Projects Fund 14
Page 2
Oak Park Heights City Officials
Position Term Expires
Mayor David Beaudet 12/31/2012
Councilmember Les Abrahamson 12/31/2014
Councilmember Mary McComber 12/31/2012
Councilmember Mike Runk 12/31/2012
Councilmember Mark Swenson 12/31/2014
City Staff
Eric A. Johnson — City Administrator
Betty Caruso — Finance Director
Brian DeRosier — Police Chief
Andrew Kegley— Public Works Director
David Mol — City Auditor
Mark Vierling — City Attorney
Christopher Long — City Engineer
Page 3
Budget Process
The annual budget process is a thorough review of all City revenues and expenditures
the current and upcoming year. There are many uncontrollable factors the City muses for
comply with that affect both the amount of revenues the City receives and the amount
City must expend in order to provide the current level of services. There are also the
unfunded mandates the City must comply with, such as: numerous
• Tax exem t roe Revue
P P property — City must still maintain police /fire protection, streets, etc.
• Limitations of local special assessments.
• Local improvement feasibility reports requirements.
• Limitation of maximum penalties and fines for ordinance violations.
• Truth in taxation requirements.
• Limitation on fees for licenses, i.e. off -sale and Sunday on -sale liquor, fireworks.
Expenditures
• Pay equity, implementation and reporting.
• Worker's compensation.
• Public pensions.
• Continuation of health and life insurance coverage.
• Prevailing wages paid on public contracts.
• Veterans preference.
• Mandatory binding arbitration for employee classes such as police and
firefighters.
• Various public safety requirements i.e. Peace officer standards and training,
confined space entry, suspense file reduction, tobacco compliance checks.
• Building code administration and limits to permit fees for minor improvements.
• Numerous environment requirements i.e., wastewater treatment standards
Wetland Conservation Act, recycling programs, waste collection practices,
drinking water standards, surface water management plans, Federal Clean Water
Act, Wastewater permit requirements, and storing of hazardous substances
reporting.
• Planning requirements for land use, zoning, building codes.
• Comprehensive plan updates.
• Conducting elections including paying judges, absentee ballots and recounts.
• Record keeping requirements for Data Practices Act and retention schedules.
• Competitive bidding.
• Open Meeting Law notices, agendas and minutes.
• Various financial reporting requirements, i.e. budget, audit reports, TIF reports,
Building Inspection fee reporting, business subsidy reports, outstanding debt
reports, Continuing Disclosure reports.
Page 4
Budget Process
The City Council and staff engage in a thorough budget process each year in order to
present a fair and balanced budget for the citizens of Oak Park Heights.
1. The annual budget process commences in July of each year with the Finance Director
distributing budget worksheets to the department heads for completion. The City
Council is requested to inform the Finance Director of any special requests they may
have for the budget.
2. The department heads determine the anticipated expenditures and budget requests for
the upcoming year. These requests are submitted to the Finance Director and
Administrator for review by the end of July.
3. The Finance Director compiles a draft of the preliminary budget and submits it to the
City Council.
4. The City Council schedules workshops for discussion and review of the preliminary
budget. There are usually 2 to 3 workshops held during the month of August and the
first week in September. All workshops are public meetings and the public is welcome
to attend.
5. After all input and requests have been considered, the Finance Director makes revisions
to the preliminary budget and submits it to Council for approval of the proposed budget
and tax levy. Per Minnesota State Statute this must be completed and certified to the
County no later than September 15.
6. The City Council sets the date for the Truth in Taxation meeting requirements. The
City is required to hold a meeting in which the public is allowed to speak and the
budget and levy is discussed. The hearing may be a part of a regularly scheduled
meeting. The dates must be certified to the County no later than September 15.
7. Council conducts additional workshops to discuss any additional changes to the budget
due to updated revenue and/or expenditure information, i.e. insurance rates, contract
fees, etc.
8. The Truth in Taxation meeting is held.
9. The final budget and levy must be certified to the County by December 28, 2010 and to
the Minnesota Department of Revenue after the levy is adopted.
Page 5
L--
100.00%
90.00%
80.00%
70.00%
60.00%
50.00%
40.00%
30.00%
20.00%
10.00%
0.00%
General Fund Revenues
An important change the City Council and the residents of Oak Park Heights are aware of is
the trend towards relying more on the tax levy for the City's source of revenue. In 2006 the
tax levy consisted of 77.0% of the City's revenue source. The proposed tax levy for 2011 is
86.4% of the City's revenue source. There are several factors that contribute to this change.
Licenses and Permits have decreased from 9.7 % in 2006 to 2.1% in 2011. In 2007, the
City reduced the utility fund administration fee from 10% to 7 %. The State has also limited
the ability of Cities to increase fees for certain services, i.e. Sunday on -sale license fees,
sale of fireworks fees, and permit fees for minor improvements. In 2009 and 2010 the City
received from the State $178,390 and $102,947 respectively for Utility Valuation
Transition Aid. This revenue will not be collected in 2011.
The Other Revenue category for 2010 and 2011 reflects the use of $193,635 and $100,000
of December 31, 2009 undesignated fund balance. This is allocated to offset the amount
needed to balance to the 2010 and 2011 expenditure budget.
Actual Actual Actual Actual Budget Budget
2006 2007 2008 2009 2010 2011
Taxes 77.0% 80.8% 81.9% 81.7% 81.3% 86.4%
Licenses /Permits 9.7% 4.6% 5.0% 2.6% 2.0% 2.1%
Fines and Forfeits 2.6% 1.9% 1.6% 1.8% 1.7% 1.5%
Intergovernmental Revenu 3.3% 3.1% 2.5% 7.1% 4.5% 2.2%
Charges for Services 2.5% 3.9% L9% 1.8% 1.8% 1.8%
Other Revenue 4.9% 5.7% 7.1% 5.0% 8.7% 6.0%
General Fund Revenues
Actual 2006 Actual 2007 Actual 2008 Actual 2009 Budget 2010 Budget 2011
▪ Taxes
• Licenses /Permits
°Fines & Forfeits
°Intergovernmental
Revenue
o Other Revenue
The overall 2011 revenue budget reflects an increase of $10,044 or .2% over the 2010
revenue budget and a reduction of $98,000 of intergovernmental revenue and $94,000 of
fund balance which increased the property tax levy by $200,000.
• Charges for Services
Page 6
Taxes
Business Licenses - Permits
Non - Business Licenses - Permits
Fines & Forfeits
Intergovernmental Revenues
Charges for Services
Miscellaneous Revenues
Undesignated Fund Balance
Total Revenues
General Fund Revenue Summary
2010
Budget
$ 3,312,204
31,650
50,000
67,700
185,987
72,420
162,580
193,635
$ 4,076,176
2011
Budget
$ 3,531,455
33,800
53,500
60,500
88,040
73,425
145,500
100,000
$ 4,086,220
The chart below shows the anticipated revenues for the budget year 2011.
Increase
(Decrease)
6.6%
6.8%
7.0%
- 10.6%
- 52.7%
1.4%
- 10.5%
- 48.4%
0.2%
Intergovernmental Revenues
2.2%
Fines & Forfeits
1.5%
Non - Business Licenses -
Permits
1.3%
Business Licenses - Permits
0.8%
2011
Revenue Distribution Distribution
Charges for Services
1.8%
Miscellaneous Revenues
3.6% Undesignated Fund Balance
2.4%
• Taxes
• Business Licenses - Permits
ONon- Business Licenses - Permits
OFines & Forfeits
• Intergovernmental Revenues
• Charges for Services
• Miscellaneous Revenues
OUndesignated Fund Balance
While the City of Oak Park Heights is in good financial condition, the use of undesignated
fund balance will not always be available to fund future budgets. This portion will
eventually need to be funded with different source of revenue or a cut in expenditures.
Page 7
General Fund Expenditures
The Revised Proposed 2011 budget for expenditures is $4,086,217; which reflects in a .2%
increase over the 2009 expenditure budget.
The chart below shows the expenditures for years 2006 through 2011. For the year 2011,
General Government accounts for 29.7% of all expenditures. Public Safety accounts for
34.8% of all expenditures. Other expenditures, which include financing of capital projects,
account for 35.5% of all expenditures.
Actual Actual Actual Actual Budget Budget
2006 2007 2008 2009 2010 2011
General Government 31.7% 31.2% 27.1% 29.5% 31.5% 29.7%
Public Safety 39.8% 36.9% 32.5% 34.1% 34.2% 34.8%
Public Works 6.1% 6.0% 7.4% 6.7% 7.6% 7.5%
Parks 3.6% 4.3% 3.6% 3.3% 3.9% 4.0%
Sanitation 3.0% 2.4% 4.5% 5.0% 4.7% 4.7%
Other Expenditures 15.8% 19.2% 24.9% 21.4% 18.1% 19.3%
General Fund Expenditures
Actual 2006 Actual 2007 Actual 2008 Actual 2009 Budget 2010 Budget 2011
100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
❑Other Expenditures
['Sanitation
❑ Parks
❑ Public Works
['Public Safety
DGeneral Government
The City will have increased expenditures for General Management and Building, Fire
Protection Contract, Parks, Engineering and Capital Financing. There are decreases in
Finance due to salary allocations, Elections, Insurance and the Tree Removal /Planting. The
overall 2011 revised proposed expenditure budget would increase by $10,044 or .2% over
the 2010 budget.
Page 8
General Government
Public Safety
Public Works
P arks
Sanitation
Other Expenditures
Total Expenditures
General Fund Expenditure Summary
2010
Budget
$ 1 ,285,375 $
1,394,710
309,981
158,307
191,050
736,750
$ 4,076,173 $
2011
Budget
1,212,290
1,422,750
304,805
164,932
190,800
790,640
4,086,217
% Increase
(Decrease)
-5.7%
2.0%
-1.7%
4.2%
-0.1%
7.3%
0.2%
The chart below reflects where the City will incur its expenditures in the 2011 budget year.
Sanitation
4.7%
Parks
4.0%
Public Works
7.5%
Other Expenditures
19.3%
2011
Expenditure Distribution
General Government
29.7%
® General Government
• Public Safety
❑Public Works
❑ Parks
■ Sanitation
®Other Expenditures
Page 9
Tax Levies
Tax Levies, Tax Capacity and Tax Capacity Rate
The proposed payable 2011 general levy for the City of Oak Park Heights that was
submitted to Washington County for the TNT parcel specific notices was $3,574,704. The
City also has a general obligation debt levy in the amount of $390,000 for the General
Obligation Capital Improvement Bonds of 2008. The total levy proposed is $3,964,704.
As seen in the chart below, the City's total tax levy has increased from $2,474,455 in 2006
to $3,964,704 proposed for 2010. The City had a 12.7% increase for 2007, 20.7% increase
for 2008, 8.6% increase for 2009, a 6.4% increase for 2010 and a 5.6% increase for 2011.
The 2011 increase is due to $10,000 for the bonding for City Hall, a reduction of $103,000
from the State in the Utility Valuation Transition Aid and a reduction of $94,000 in the use
of Fund Balance.
4,500,000
4,000,000
3,500,000
3,000,000
2,500,000
2,000,000
1,500,000
1,000,000
500,000
0
Tax Levy
2,474,455
2789,655
3,367,480
3
3,754,704
3,964,704
—
2006 2007
2008 2009
2010 2011
Tax Capacity
The City's estimated 2011 tax capacity value is $8,312,200. This represents a 2.9%
increase in tax capacity value of over the 2010 value of $8,080,763.
Tax capacity value is market value of the property times the class rates. Class rates are
established by the State of Minnesota and have not changed since 2002.
The current class rates for residential property is 1% of market value for the first $500,000
of value and then 1.25% on the remaining value of the property — Example of a $600,000
home —
1% of first $500,000 = $5,000
1.25% of Balance ($100,000) _ $1,250
Total Tax Capacity $6,250
The current class rates for commercial property is 1.5% of market value for the first
$150,000 of value and then 2% on the remaining value of the property — Example of a
$600,000 commercial business —
1.5% of first $150,000 = $2,250
2% of balance ($450,000) = $9, 000
Total Tax Capacity = $11,250
Page 10
The chart below shows the change in Tax Capacity Values from 2006 through Proposed
2011.
9,000,000
8,000,000
7,000,000
6,000,000
5,000,000
4,000,000
3,000,000
2,000,000
1,000,000
0
Tax Capacity Value 6,448,195
/ I,
I MI
2006
2007
7,356,891
2008
8,742,105
2009
8,921,360
2010
8,080,763
2011
8,312,200
Local Tax Rate
The City's Tax Rate for the general levy for 2011 is estimated to be 40.587% per $1,000 of
tax capacity value. This represents an increase of 3.0% from 2010 rates. The Local Tax
Rate for the general obligation debt levy is 4.428 %. This represents a decrease of .09%
from the 2010 debt levy rate. The Total Local Tax Rate is 45.015 %. The Total Rate is
estimated to increase 2.7% over the 2010 rate.
60
50
40
30
20
10 -
Local Tax Rates
/
/
•Tax Rate
2006
36.136
2007
35.731
2008
36.343
2009
38.732
2010
43.845
2011
45.015
The median market value from 2010 to 2011 for the City is estimated to decrease 2.0 %.
Assuming a 2.0% decrease in value, the net effect in total City tax is .1% to .7% increase
depending on the market value of the home. A $250,000 home will experience a .5% or
$4.83 increase in tax.
Page 11
An increase or decrease in the amount levied for taxes combined with an increase or
decrease in market value or tax capacity value, result in the tax capacity rate changes.
Water Utility Fund
Sewer Utility Fund
Storm Sewer Utility Fund
Totals
Water Utility Fund
Sewer Utility Fund
Storm Sewer Utility Fund
Totals
Utility Funds Revenues and Expenditures
The Water Utility Fund revenues are anticipated to increase 7.0% for the year 2011. The
increase in revenue reflects an increase in water rates needed to meet projected operation
and capital expenses.
Expenditures in the Water Utility Fund are anticipated to increase 7.0% for the year 2010.
The increase is due to expenses anticipated for the Well Head Protection Study, water
meter change outs and personal service increases due to labor contracts.
The Sewer Utility Fund revenues are anticipated to increase 4.6% for the year 2011. The
increase in revenue reflects an increase in sewer rates needed to meet projected operation
and capital expenses.
Expenditures in the Sewer Utility Fund are anticipated to increase 4.6% for the year 2011.
This increase is due to increased charges from Metropolitan Council Environmental
Services and personal service increases due to labor contracts.
The Storm Sewer Utility Fund revenues are anticipated to decrease 2.1% for the year 2010.
The revenue decrease is due to a reduction in estimated interest earned.
Expenditures in the Storm Sewer Utility Fund are anticipated to increase 4.1% for the year
2010. This increase is due to personal service increases due to labor contracts.
Utility Funds Revenues Summary
2010
Budget
$566,785
$767,685
$ 79,600
$1,414,070
2011
Budget
$606,435
$802,705
$ 77,950
$1,487,090
Utility Fund Expenditures Summary
2010
Budget
$566,780
$767,685
$ 64,325
$1,398,790
% Increase
(Decrease)
7.0%
4.6%
(2.1%)
5.1%
2011 % Increase
Budget (Decrease)
$606,435 7.0%
$802,705 4.6%
$ 66,985 4.1%
$1,476,125 5.5%
Page 12
Debt Service Funds
As of December 31, 2010 the City will have outstanding debt, including interest, in the
amount of $10,153,408 for the following bond issues:
G.O. Capital Improvement Bonds of 2008 $8,884,228
G.O. Capital Improvement Bonds of 2009 $1,269,180
The G.O. Capital Improvement Bonds of 2008 were issued in 2008 to provide financing for
the construction of a new City Hall. This bond is scheduled to be repaid by a General
Obligation Debt Levy. The bonds are scheduled to retire in 2028.
The G.O. Capital Improvement Bonds of 2009 were issued in 2009 to provide additional
financing for the construction of a new City Hall. This bond is scheduled to be repaid by a
General Obligation Debt Levy. The bonds are scheduled to retire in 2019.
Page 13
Budgeted Projects Fund
The Budgeted Projects Fund was established to fund capital purchases for public works,
police, administration, etc. The revenues received in this fund are transfers in from the
General Fund and the Utility Funds. Revenue received for tree replacement and
occasionally revenue received as donations are also deposited in this fund.
For the year 2011 the City has budgeted transfers from the General Fund Budget in the
amount of $248,740 and transfers in from the Utility Fund in the amount of $80,900.
The anticipated expenditures for 2011 are for sealcoat/crack seal, park and trail
improvements and maintenance, tree planting, police vehicle, public works vehicles, and
computers.
Page 14
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2009 2010 2011
Actual Budget Budget
General Government
Mayor & Counicl 79,754 93,130 91,560
City Administration 243,446 249,135 253,000
Legal 18,448 29,700 29,700
General Management and Building 71,079 102,985 122,405
Elections 943 4,790 940
Finance 234,622 300,355 238,875
Computer System 17,541 22,900 24,100
Audit 19,730 21,250 21,250
Insurance 326,469 376,860 341,000
Assessing 21,169 21,900 21,660
Planning & Zoning 43,127 35,640 35,800
Engineering 25,308 26,730 32,000
1,101,636 29.5% 1,285,375 31.5% 1,212,290 29.7%
Public Safety
Police 999,334 1,105,450 1,116,555
Building Inspection 121,679 131,975 131,410
Fire Protection 147,472 150,600 168,100
Civil Defense 1,523 5,050 5,050
Animal Control 1,526 1,635 1,635
1,271,534 34.1% 1,394,710 34.2% 1,422,750 34.8%
Public Works
Street Maintenance 43,734 58,280 61,355
Snow Removal 106,155 122,750 122,750
Street Lighting 63,725 68,000 68,000
Aroborist 15,246 15,201 15,200
Tree Removal and Planting 19,774 45,750 37,500
248,634 6.7% 309,981 7.6% 304,805 7.5%
Parks and Recreation
Parks 123,170 3.3% 158,307 3.9% 164,932 4.0%
Sanitation 187,203 5.0% 191,050 4.7% 190,800 4.7%
Other Expenditures
Contingency 7,134 9,900 9,900
Transfers Out 792,600 726,850 780,740
799,734 21.4% 736,750 18.1% 790,640 19.3%
3,731,911 100.0% 4,076,173 100.0% 4,086,217 100.0%
Item
Actual
Pay 2010
(A)
Proposed
Pay 2011
(B)
%
Change
(C)
1. Levy before reduction for state aids
$3,754,704
$3,964,704
5.6%
2. State Aids
$0
$0
0.0%
3. Certified Property Tax Levy
$3,754,704
$3,964,704
5.6%
4. Fiscal Disparity Portion of Levy
$211,706
$222,950
5.3%
5. Local Portion of Levy
$3,542,998
$3,741,754
5.6%
6 Local Taxable Value
$8,080,763
$8,312,200
2.9%
7 Local Tax Rate
43.845%
45.015%
2.7%
Actual Pay 2010
Pay 2010 MV
X 0.098
500,000 @ 1.0%
rem @ 1.25%
(B7 x E) +
(B12 x D)
76,000 @ .40%
rem @ .09%
(G) x %
(F) - (H)
Estimated Tax District rate as % of total rate:
46%
0.6%
102,000
1,020
$447.22
$280.60
$129.17
$318.05
153,100
1,531
$671.26
$234.61
$108.00
$563.26
255,100
2,551
$1,118.48
$142.81
$65.74
$1,052.74
510,200
5,128
$2,248.36
$0.00
$0.00
$2,248.36
765,300
8,316
$3,646.14
$0.00
$0.00
$3,646.14
Proposed Pay 2011
Pay 2010 MV
X 0.098
500,000 @ 1.0%
rem @ 1.25%
(B7 x E) +
(B12 x D)
76,000 @ .40%
rem @ .09%
(G) x %
(F) - (H)
Estimated Tax District rate as % of total rate:
46%
0.6%
100,000
1,000
$450.15
$282.40
$129.90
$320.25
150,000
1,500
$675.23
$237.40
$109.20
$566.02
250,000
2,500
$1,125.38
$147.40
$67.80
$1,057.58
500,000
5,000
$2,250.76
$0.00
$0.00
$2,250.76
750,000
8,125
$3,657.49
$0.00
$0.00
$3,657.49
Percentage Change from 2010 to 2011
-2.0%
-2.0%
0.7%
0.6%
0.6%
0.7%
-2.0%
-2.0%
0.6%
1.2%
1.1%
0.5%
-2.0%
-2.0%
0.6%
3.2%
3.1%
0.5%
-2.0%
-2.5%
0.1%
0.0%
0.0%
0.1%
-2.0%
-2.3%
0.3%
0.0%
0.0%
0.3%
(
(E)
(F)
(G)
(H)
(
Taxing
Total
Taxing
Taxing
Taxable
District
Mkt Value
District
District
Market
Tax
Gross
Hstd
share of
Net
Value
Capacity
Taxing
Credit
Credit
Tax
8. Assumes a
9.
10.
11.
12.
13.
14.
18.
19.
20.
21.
22.
23.
27.
28.
29.
30.
31.
Proposed Pay 2011 Property Tax Impact Worksheet
Taxing District: 1700 Oak Park Heights - GENERAL LEVY & DEBT LEVY
Step 1 - Calculate the Taxing District' s Tax Rate - Total General and Debt Levy
Step 2 - Calculate the Impact of the Taxing District's Rate on Residential Homestead Taxes:
-2.0% change in market value from 2010 to 2011, which is the city median change
PRELIMINARY BUDGET
Inc /dec
$2.20
$2.76
$4.83
$ 2.40
$11.35
Item
Actual
Pay 2010
(A)
Proposed
Pay 2011
(B)
%
Change
(C)
1. Levy before reduction for state aids
$3,374,704
$3,574,704
5.9%
2. State Aids
$0
$0
0.0%
3. Certified Property Tax Levy
$3,374,704
$3,574,704
5.9%
4. Fiscal Disparity Portion of Levy
$190,280
$201,019
5.6%
5. Local Portion of Levy
$3,184,424
$3,373,685
5.9%
6 Local Taxable Value
$8,080,763
$8,312,200
2.9%
7 Local Tax Rate
39.407%
40.587%
3.0%
Proposed Pay 2011
Pay 2010 MV
X 0.098
500,000 @ 1.0%
rem @ 1.25%
(B7 x E) +
(B12 x D)
76,000 @ .40%
rem @ .09%
(G) x %
(F) - (H)
Estimated Tax District rate as % of total rate:
46%
46%
100,000
1,000
$405.87
$282.40
$129.90
$275.97
150,000
1,500
$608.81
$237.40
$109.20
$499.60
250,000
2,500
$1,014.68
$147.40
$67.80
$946.87
500,000
5,000
$2,029.36
$0.00
$0.00
$2,029.36
750,000
8,125
$3,297.71
$0.00
$0.00
$3,297.71
Actual Pay 2010
-2.0%
500,000 @ 1.0%
rem @ 1.25%
(B7 x E) +
(B12 x D)
76,000 @ .40%
rem @ .09%
(G) x %
(F) - (H)
Estimated
Tax District rate as % of total rate:
46%
1.2%
102,000
1,020
$401.96
$280.60
$129.17
$272.79
153,100
1,531
$603.33
$234.61
$108.00
$495.33
255,100
2,551
$1,005.28
$142.81
$65.74
$939.54
510,200
5,128
$2,020.81
$0.00
$0.00
$2,020.81
765,300
8,316
$3,277.12
$0.00
$0.00
$3,277.12
Percentage Change from 2010 to 2011
-2.0%
-2.0%
1.0%
0.6%
0.6%
1.2%
-2.0%
-2.0%
0.9%
1.2%
1.1%
0.9%
-2.0%
-2.0%
0.9%
3.2%
3.1%
0.8%
-2.0%
-2.5%
0.4%
0.0%
0.0%
0.4%
-2.0%
-2.3%
0.6%
0.0%
0.0%
0.6%
(D)
(E)
(F)
(G)
(H)
(
Taxing
Total
Taxing
Taxing
Taxable
District
Mkt Value
District
District
Market
Tax
Gross
Hstd
share of
Net
Value
Capacity
Taxing
Credit
Credit
Tax
Proposed Pay 2011 Property Tax Impact Worksheet
Taxing District: 1700 Oak Park Heights - GENERAL LEVY
Step 1- Calculate the Taxing District' s Tax Rate - Total General
PRELIMINARY BUDGET
Step 2 - Calculate the Impact of the Taxing District's Rate on Residential Homestead Taxes:
8. Assumes a
9.
10.
11.
12.
13.
14.
18.
19.
20.
21.
22.
23.
27.
28.
29.
30.
31.
-2.0% change in market value from 2010 to 2011, which is the city median change
Inc /dec
$3.18
$4.27
$7.33
$8.54
$20.58
Item
Actual
Pay 2010
(A)
Proposed
Pay 2011
(B)
%
Change
(C)
1. Levy before reduction for state aids
$380,000
$390,000
2.6%
2. State Aids
$0
$0
0.0%
3. Certified Property Tax Levy
$380,000
$390,000
2.6%
4. Fiscal Disparity Portion of Levy
$21,426
$21,931
2.4%
5. Local Portion of Levy
$358,574
$368,069
2.6%
6 Local Taxable Value
$8,080,763
$8,312,200
2.9%
7 Local Tax Rate
4.437%
4.428%
-0.2%
Actual Pay 2010
Pay 2010 MV
X 0.098
500,000 @ 1.0%
rem @ 1.25%
(B7 x E) +
(B12 x D)
76,000 @ .40%
rem @ .09%
(G) x %
(F) - (H)
Estimated Tax District rate as % of total rate:
46%
-2.2%
102,000
1,020
$45.26
$280.60
$129.17
- $83.91
153,100
1,531
$67.94
$234.61
$108.00
- $40.06
255,100
2,551
$113.20
$142.81
$65.74
$47.46
510,200
5,128
$227.55
$0.00
$0.00
$227.55
765,300
8,316
$369.01
$0.00
$0.00
$369.01
Proposed Pay 2011
Pay 2010 MV
X 0.098
500,000 @ 1.0%
rem @ 1.25%
(B7 x E) +
(B12 x D)
76,000 @ .40%
rem @ .09%
(G) x %
(F) - (H)
Estimated Tax District rate as % of total rate:
46%
-2.2%
100,000
1,000
$44.28
$282.40
$129.90
- $85.62
150,000
1,500
$66.42
$237.40
$109.20
- $42.78
250,000
2,500
$110.70
$147.40
$67.80
$42.90
500,000
5,000
$221.40
$0.00
$0.00
$221.40
750,000
8,125
$359.78
$0.00
$0.00
$359.78
Percentage Change from 2010 to 2011
-2.0%
-2.0%
-2.2%
0.6%
0.6%
2.0%
-2.0%
-2.0%
-2.2%
1.2%
1.1%
6.8%
-2.0%
-2.0%
-2.2%
3.2%
3.1%
-9.6%
-2.0%
-2.5%
-2.7%
0.0%
0.0%
-2.7%
-2.0%
-2.3%
-2.5%
0.0%
0.0%
-2.5%
(D)
(E)
(F)
(G)
(H)
(
Taxing
Total
Taxing
Taxing
Taxable
District
Mkt Value
District
District
Market
Tax
Gross
Hstd
share of
Net
Value
Capacity
Taxing
Credit
Credit
Tax
Proposed Pay 2011 Property Tax Impact Worksheet
Taxing District: 1700 Oak Park Heights - DEBT LEVY
Step 1 - Calculate the Taxing District' s Tax Rate - Debt Levy
Step 2 - Calculate the Impact of the Taxing District's Rate on Residential Homestead Taxes:
8. Assumes a
9.
10.
11.
12.
13.
14.
18.
19.
20.
21.
22.
23.
27.
28.
29.
30.
31.
-2.0% change in market value from 2010 to 2011, which is the city median change
Inc /dec
- $1.71
-$2.72
- $4.56
-$6.15
- $9.23
Item
Actual
Pay 2010
(A)
Proposed
Pay 2011
(B)
%
Change
(C)
1. Levy before reduction for state aids
$3,754,704
$3,949,004
5.2%
2. State Aids
$0
$0
0.0%
3. Certified Property Tax Levy
$3,754,704
$3,949,004
5.2%
4. Fiscal Disparity Portion of Levy
$211,706
$222,950
5.3%
5. Local Portion of Levy
$3,542,998
$3,726,054
5.2%
6 Local Taxable Value
$8,080,763
$8,312,200
2.9%
7 Local Tax Rate
43.845%
44.826%
2.2%
Proposed Pay 2011
Pay 2010 MV
X 0.980
500,000 @ 1.0%
rem @ 1.25%
(B7 x E) +
(B12 x D)
76,000 @ .40%
rem @ .09%
(G) x %
(F) - (H)
Estimated Tax District rate as % of total rate:
46%
0.2%
100,000
1,000
$448.26
$282.40
$129.90
$318.36
150,000
1,500
$672.39
$237.40
$109.20
$563.19
250,000
2,500
$1,120.66
$147.40
$67.80
$1,052.85
500,000
5,000
$2,241.32
$0.00
$0.00
$2,241.32
750,000
8,125
$3,642.14
$0.00
$0.00
$3,642.14
Actual Pay 2010
-2.0%
500,000 @ 1.0%
rem @ 1.25%
(B7 x E) +
(B12 x D)
76,000 @ .40%
rem @ .09%
(G) x %
(F) - (H)
Estimated Tax District rate as % of total rate:
46%
0.2%
102,000
1,020
$447.22
$280.60
$129.17
$318.05
153,100
1,531
$671.26
$234.61
$108.00
$563.26
255,100
2,551
$1,118.48
$142.81
$65.74
$1,052.74
510,200
5,128
$2,248.36
$0.00
$0.00
$2,248.36
765,300
8,316
$3,646.14
$0.00
$0.00
$3,646.14
Percentage Change from 2010 to 2011
-2.0%
-2.0%
0.2%
0.6%
0.6%
0.1%
-2.0%
-2.0%
0.2%
1.2%
1.1%
0.0%
-2.0%
-2.0%
0.2%
3.2%
3.1%
0.0%
-2.0%
-2.5%
-0.3%
0.0%
0.0%
-0.3%
-2.0%
-2.3%
-0.1%
0.0%
0.0%
-0.1%
(D)
(E)
(F)
(G)
(H)
(
Taxing
Total
Taxing
Taxing
Taxable
District
Mkt Value
District
District
Market
Tax
Gross
Hstd
share of
Net
Value
Capacity
Taxing
Credit
Credit
Tax
Step 1 - Calculate the Taxing District' s Tax Rate - Total General and Debt Levy
Step 2 - Calculate the Impact of the Taxing District's Rate on Residential Homestead Taxes:
8. Assumes a
9.
10.
11.
12.
13.
14.
18.
19.
20.
21.
22.
23.
27.
28.
29.
30.
31.
Proposed Pay 2011 Property Tax Impact Worksheet
Taxing District: 1700 Oak Park Heights - GENERAL LEVY & DEBT LEVY
-2.0% change in market value from 2010 to 2011, which is the city median change
To obtain a 0% increase in tax, the levy would need to be reduced $15,700
0% TAX INCREASE
Inc /dec
$0.31
- $0.07
$0.11
-$7.05
- $4.00