HomeMy WebLinkAboutTax Impact - Preliminary Values and Budget Proposed Payable 2013 Property Tax Impact Worksheet
Taxing District: 1700 Oak Park Heights - GENERAL LEVY & DEBT LEVY
ESTIMATES
Step 1 - Calculate the Taxing District' s Tax Rate - Total General and Debt Levy PRELIM BDG 9/11/12
Actua Proposed
ropose °°
Item Pay 2012 Pay 2013 Change
(A) ( B ) ( Increase
1. Levy before reduction for state aids $4,228,062 $4,538,193 7.3% $310,131
2. State Aids $0 $0 0.0%
3. Certified Property Tax Levy $4,228,062 $4,538,193 7.3%
4. Fiscal Disparity Portion of Levy $182,726 $202,7041 10.9%
5. Local Portion of Levy $4,045,336 $4,3 7.2%
6 Local Taxable Value $7,823,155 $7,500,384 -4.1%
7 Local Tax Rate 51.710% 57.804% 11.8%
Step 2 - Calculate the Impact of the Taxing District's Rate on Residential Homestead Taxes:
8. Assumes a -11.4% change in market value from 2012 to 2013, which is the city median change
E F G H f j K
Market Value Homestead Taxing Ip Total Taxing Taxing
Before Value Taxable District I Mkt Value District District
Exclusion Exclutions Market Tax` ress Hstd share of Net
Value Value Value Capacity Taxing Credit Credit Tax
Actual Pay 2012
Pay 1 MV 76,000 .40% B7 x E + 500,000 1. °° A7 x G
rem @ .09% (B12 x D) rem @ 1.25%
9 • Estimated Tax District rate as % of total rate: 52%
10. 112,900 27,079 85,821 858 443.78 NA NA $443.78
11. 169,300 22,003 147,297 1,473 761.67 NA NA $761.67
12. 186,700 20,437 166,263 1,663 859.74 NA NA $859.74
13. 282,200 11,842 270,358 2,704 1,398.02 NA NA $1,398.02
14. t 451,500 451,500 1 4,5151 2,334.70 NA NA $2,334.70
Proposed Pay 2013
Pay 2013 MVT 76,000 @ .40% 67 x E + 5 1.0°°
X 0.886 rem @ .09% (612 x D) rem @ 1.25% (G) x
(F) - (H)
18. Estimated Tax District rate as % of total rate: 58%
19. 100,029 28,237 71,792 718 414.98 NA NA $414.98
20. 150,000 23,740 126,260 1,263 729.83 NA NA $729.83
21. 165,416 22,353 143,064 1,431 826.96 NA NA $826.96
22. 250,029 14,737 235,292 2,353 1,360.07 NA NA $1,360.07
23. 400,029 400,029 4,000 2,312.31 NA NA $2,312.31
Percentage Change from 2012 to 2013 $Inc (Dec)
27. - 11.4% -16.3% -16.3% -6.5% -6.5% $ (28.79)
28. -11.4% - 14.3% -14.3% -4.2% -4.2% $ (31.84)
29. - 11.4% -14.0% -14.0% -3.8% -3.8% $ (32.78)
30. -11.4% - 13.0% -13.0% -2.7% 1 -2.7% $ (37.94)
31. - 11.4% -11.4% -11.4% -1.0% -1.0% $ (22.39)
2013 Estimated Tax Impact PREL BDGT 8 -21 -12 w -fd change 1of 1