09-07-1977 Council Minutes - Public Hearing

Home Browse Search

s � PUBLIC HEARING MINUTES OF SEPTEMBER 7, 1977 Page 5 • In 1977 a home with a taxable value of $50, 000 had a tax levy of approximately $224. The taxes payable in 1978 for a home � � with a taxable value of $50, 000 will be approximately $235 with • the reverse referendum and approximately $209 without L-he � reverse referendum. The net estimated increase from the reverse referendum is $11 because of the re�3uction in the debt levy and special 1 r Following are tabulations showing the tax levies and mill rates , for 1977 compared to the estimated tax levies and mill rates for 1978. Please keep in mind that the mill rates for 1978 will � be changing due to the new formula. � ' 1977 1978 � Tax Mill Rate Tax Mill Rat � General $S14, 861 11. 842 $538, 045 11. 117 � General Rev. Ref. --� -- 69, 636 1 . 439 General Total $514, 861 11 . 842 $607, 681 12. 556 � Bonds & Interest 22, 825 . 525 22, 300 . 461 � Special Levy 2, 217 . 051 -0- -0- � Total Levies 539, 903 12 . 418 =S629�_981 13. 017 � Total Levies without Reverse Referendum �539, 903 12 . 418 S560, 345 11 . 578 � Followin is a tabulation h � g s owing the taxes payabie in 1977 and the • estimated taxes payable in 1978 for a house with a $50, 000 taxable value. � � 1977 1978 Tax Mill Rate Tax Mill Rat� � General ' $ 214 11 . 842 $ 201 11 . 117 � General Rev. Ref. -- -- 26 1 . 439 General Total $ 214 11. 842 $ 227 12 . 556 i Bonds & Interest 9 . 525 8 . 461 � Special Levy 1 . 051 -- -- • Total Levies 224 _ . 12. 418 _ 235 13. 017 Total Levies without � Reverse Referendum S 224 12. 418 - S .209 11 . 578 � As noted above, the estimated gross increase for the reverse � referendum is $26. � Reverse Referendum: � � As stated earlier in this memo, there was an error in the original � � � (Continued)