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Tax Le Im acts with Partial Assessments for Street Reconstruction <br /> Type of Street Annual Levy Tax Rate Tax Tax Tax Tax <br /> Work Cost Increase Increase Impact Impact Impact Impact <br /> ($) (%) (Percentage on on on$1M on$2M <br /> Points) $2SOK $546K Home Home <br /> Home Home <br /> Median <br /> Seal Coat $253,396 5.31% .93 $22 $46 $]OS $221 <br /> Mill & $324,625 6.8% 1.l 9 $28 $59 $134 $283 <br /> Overla <br /> Total $578,021 12.11% 2.12 $49 $105 $239 $504 <br /> Maintenance <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 assummg <br /> rypical years distnbution of reconstructwn 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 ptanning costs not <br /> fully developed estimates) <br /> Baldur Pal'k Road. (Note this does not account for the FEMA funds received far this road.) <br /> Total City's Portion of Project Cost To Number of Cost per House <br /> Cons�truction Project be Assessed Residences <br /> Cost (30%) (?0%) <br /> $221,961 $66,588 $155,373 18 $8,632 <br /> Stubbs Ba Road south from Watertown Road. <br /> Total City's Portion of Project Cost To Number of Cost per House <br /> Construction Project be Assessed Residences <br /> Cost (90%) (10%) <br /> $382,360 $38,236 $38,236 5 $7,647 <br /> Watertown Road between Old C stal Ba and Stubbs Ba Roads . <br /> Total Project Cost to City's Project Cost Number of Cost per <br /> Construction be Paid w/ Portion of To be Residences House <br /> Cost MSA funds Project Assessed <br /> 50% 40% 10% <br /> $824,200 $412,100 $329,680 $82,420 26 $3,l 70 <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 <br />