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's' <br />City Council <br />Tom Kuehn, Finance Director <br />January 9, 1985 <br />Memo 485-03 <br />page 1 of <br />COUNCIL MtFTING <br />CITY OF ORONO <br />Su"JdCT: Status of 1984 'Pax and State Aid Collections <br />TAX COLLECTIONS <br />The following tabulation shows the actual collections on the <br />General Fund tax levy collectible in 1984 compared to the total <br />General Fund amount levied for the year and indicates the <br />Percentage of the total levy collected to date. The tabulation <br />also shows the comparable status of the previous four years <br />collections at this point in time. The collections include real <br />estate and personal property taxes, and fical disparities plus <br />the homestead credit aids contributed by the State. <br />r,F,vY YR. <br />1983 <br />1.982 <br />I981 <br />1980 <br />1979 <br />COLL YR. <br />1984 <br />1983 <br />1982 <br />1981 <br />1980 <br />GEN LEVY <br />$1,021,426 <br />$909,573 <br />$818,91.1 <br />$781,169 <br />a70S ,663 <br />COLL TO <br />$ 951,i373 <br />$854,772 <br />$761,164 <br />$746,542 <br />$676,534 <br />DATE <br />COLL 93.11% 93.98€ 92.95% 95.57% 95.47% <br />For collection year 1981 the col le-.tions to rite nave been <br />adjusted to include $53,719 of November and December 1981 <br />homestead credits and other aids which were receivable in <br />December 1981 but were not received until February, 1982. <br />For collection year 1982 the State of Minnesota remitted $24,419 <br />less than the amount of homf-.stead credit aid that we should have <br />received. This reduction was due to the financial problems being <br />experienced by tho State at that time. The effect of the <br />homestead credit reduction was to decrease the Iota1 tax <br />collections by 2.98%. If _h#- total homestead credit had been <br />received the year to date collections would be $785,583 and tht, <br />percentage of collection would be 95.93%. <br />The collections for 1983 were 93.98% which is approximately 1.7% <br />less than the prior four years. We re, --eived sl ight I over 101% <br />of the projected homestead credit and reduced assessment credit <br />so tY t Aecrease in to to 1 collections was due to an increase in <br />del iit ,, ies from individual taxpayers and not the result of <br />State aka+ : .'.is, ,as in 1982. In February, 1984 we rec_e i ve(' <br />tax0s col le"ted in Novcmbwr and De, -ember 1983. This am <br />($18,436) brings the total (�ol ls•cttons for 1981 to Sa73,20:. <br />96.00%. <br />