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* • <br />■T-\r : <br />COliMr.li MPFT\NG <br />SEP 1 1 2000 <br />CITY Ul- UMUIVU <br />REQUEST FOR COUNCIL ACTION <br />DATE: September 7,2000 <br />ITEM NO: // <br />Department Approval:Administrator Reviewed:Agenda Section: <br />Name Ron Moorse \/\ ^ /City Administrator's <br />Title City Administrator Report <br />Item Description: Proposed 2001 Budget and Tax Levy - Resolutions <br />Attachments:1. Tax Levies - Actual 2000 vs. Proposed 2001 <br />2. Tax Capacity, Local Levy, and Tax Capacity Rates <br />3. Effect of 2001 Tax Levy and Budget on Homes <br />4. Resolution Adopting the Proposed 2000 Tax Levy Collectible in 2001 <br />5. Resolution to Adopt the Proposed 2001 Budget <br />Proposed 2001 Budget <br />The proposed 2001 budget reflects an effort to manage expenditures and hold the tax levy to a <br />moderate increase while accommodating increased expenditures related to addressing the increased <br />demand for police services, enabling the City to retain and recruit high-quality staff, and <br />strengthening the City’s ability to address upcoming capital needs. <br />Tax Levy, Tax Capacity Rate, and Impact on Property Owners <br />The total tax levy required to fmid the proposed 2001 budget is $2,443,350. This is an increase of <br />$79,790 or 3.38% over the 2000 levy. The estimated tax capacity for taxes payable in the year 2001 <br />is $17,595,396. This is an increase of $1,817,706 or 11.52% over the 2000 tax capacity. <br />Based on the City's tax capacity and the proposed tax levy, the proposed tax capacity rate is <br />13.761%. This is a 7.06% reduction from the 2000 tax capacity rate. Based on the reduction in the <br />City's tax capacity rate, and assuming no change in property value, the City's share of the property <br />tax bill on a home valued at $100,000 would decrease by $12.09 or 7.1%. For a home valued at <br />$500,000, the City's share of the property tax bill would decrease bv $81.13 or 7.1%. <br />General Fund Budget Expenditures <br />General Fund expenditures are highlighted as part of the proposed budget information because they <br />have the greatest impact on the tax levy. The proposed 2001 General Fund budget expenditures are <br />$4,290,440. This is an increase of $236,960 or 5.85% over the 2000 budget. The General Fund <br />budget reflects the impacts of the additional police officers hired in 2000, and the market-based pay <br />adjustments that were phased in effective January 1 and July 1 of 2000. The General Fund budget <br />is basically unchanged in all other areas.