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REQUEST FOR COUNCIL ACTION <br />DATE: September 8, 1999 <br />ITEM NO: <br />Department Approval:Administrator Reviewed:Agenda Section: <br />Name RonMoorse h/iL City Administrator's <br />Title City Administrator m____Rqjort <br />Item Description: Proposed 2000 Budget and Tax Levy - Resolutions <br />Attachments:1. Tax Levies - Actual 1999 vs. Proposed 2000 <br />2. Tax Capacity, Local Levy, and Tax Capacity Rates <br />3 . Effect of 2000 Tax Levy and Budget on Homes <br />4. Resolution Adopting the Proposed 1999 Tax Levy Collectible in 2000 <br />5. Resolution to Adopt the Proposed 2000 Budget <br />Proposed 2000 Budget <br />The proposed 2000 budget addresses a number of increased service needs, particularly in the public <br />safety area, while holding the tax levy to a moderate increase. <br />Tax Levy, Tax Capacity Rate, and Impact on Property Owners <br />The total tax levy required to fund the proposed 2000 budget is $2,363,560. This is an increase of <br />$71,680 or 3.13% over the 1999 levy. The proposed levy amount is at the City's levy limit. The <br />estimated tax capacity for taxes payable in the year 2000 is $15,750,937. This is an increase of <br />$1,035,895 or 7.04% over the 1999 tax capacity. <br />Based on the City's tax capacity and the proposed tax levy, the proposed tax capacity rate is 14.637. <br />This is a 3.55% reduction from the 1999 tax capacity rate. Based on the reduction in the City's tax <br />capacity rate, and assuming no change in property value, the City's share of the property tax bill on <br />a home valued at $ 100,000 would decrease by $9.19 or 5.1%. For a home valued at $400,000, the <br />City's share of the property tax bill would decrease by $59.09 or 6.1%. <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 2000 General Fund budget expenditures are <br />$4,053,480. This is an increase of $203,480 or 5 28% over the 1999 budget. The main items <br />causing the expenditure increase are as follows: <br />A.Annual compensation adjustments <br />(based on a 3% pay increase) <br />$76,470