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Tax Levy Impacts with Partial Assessments for Street Reconstruction <br />Type of Street <br />Work <br />Annual <br />Cost <br />($) <br />Levy <br />Increase <br />(%) <br />Tax Rate <br />Increase <br />(Percentage <br />Points) <br />Tax <br />Impact <br />on <br />$250K <br />Home <br />Tax <br />Impact <br />on <br />$546K <br />Home <br />(Median) <br />Tax <br />Impact <br />on $1M <br />Home <br />Tax <br />Impact <br />on $2M <br />Home <br />Seal Coat $253,396 5.31% .93 $22 $46 $105 $221 <br />Mill & <br />Overlay <br />$324,625 6.8% 1.19 $28 $59 $134 $283 <br />Total <br />Maintenance <br />$578,021 12.11% 2.12 $49 $105 $239 $504 <br />Reconstruction $403,251* 8.45% 1.48 $34 $73 $167 $352 <br />Grand Total $981,272 20.56% 3.61 $84 $178 $406 $856 <br />*This amount is based CIP total annual reconstruction requirement less the amounts provided by assessments and MSA funds assuming <br />typical years distribution of reconstruction per road type (33% low volume, 37 % collector and 30% MSA collector). <br />Below are examples of using this COA for 2015’s proposed reconstruction projects using a per unit <br />assessment with the percentages proposed above. (Note these examples use CIP costs which are planning costs not <br />fully developed estimates) <br />Baldur Park Road. (Note this does not account for the FEMA funds received for this road.) <br />Total <br />Construction <br />Cost <br />City’s Portion of <br />Project <br />(30%) <br />Project Cost To <br />be Assessed <br />(70%) <br />Number of <br />Residences <br />Cost per House <br />$221,961 $66,588 $155,373 18 $8,632 <br />Stubbs Bay Road south from Watertown Road. <br />Total <br />Construction <br />Cost <br />City’s Portion of <br />Project <br />(90%) <br />Project Cost To <br />be Assessed <br />(10%) <br />Number of <br />Residences <br />Cost per House <br />$382,360 $38,236 $38,236 5 $7,647 <br />Watertown Road between Old Crystal Bay and Stubbs Bay Roads . <br />Total <br />Construction <br />Cost <br />Project Cost to <br />be Paid w/ <br />MSA funds <br />(50%) <br />City’s <br />Portion of <br />Project <br />(40%) <br />Project Cost <br />To be <br />Assessed <br />(10%) <br />Number of <br />Residences <br />Cost per <br />House <br />$824,200 $412,100 $329,680 $82,420 26 $3,170 <br />(1) Advantages. Provides reliable stream of funding to maintain the City’s streets. Provides a <br />level of cost vs. benefit equity. Limits increases to the general tax levy. <br />(2) Disadvantages. Raises the tax levy. Introduces assessments which can be contentious. <br />b.Combination of General Fund, Assessments and Franchise Fees. This COA is the same as <br />COA A except that franchise fees would be introduced to pay for a street seal coating. The Franchise fee <br />would result in a $5-10 monthly increase in residential electric and gas bills. <br />4 Page 6 of 49