HomeMy WebLinkAbout4.c. Set Special Council Meeting Dates for Budget Discussions , 3
CITY OF ROSEMOUNT
EXECUTIVE BUI�II�IARY FOR ACTION
CITY COUNCIL MEETING DATE; November 2, 1993
AGENDA ITEM: Set Special Council Meeting AGENDA SECTZON:
Dates for Budget Discussions Consent
PREPARED BY: AGEND
Ron Wasmund, Acting City Administrator ��rL.1111 Tf' �
ATTACHMENTS: Spreadsheet Shawing Impact of APP VED B :
of City Levy
Thursday, December 2nd, is the Public Hearing for the 1994 City of
Rosemount 1evy, a hearing required by law. Attached is a spreadsheet
showing the impact of our proposed levy on residential properties of
varying values. Those numbers should be the same as peaple will reaeive an
their statements they receive from the County in early November. These
numbers are good for residential properties only. The numbers we received
from the County are close to what our estimates were and the impact of the
proposed levy (for the City portion only) can be seen on the worksheet.
Our estimate was an increase in City taxes of 3 to 8 percent. The increase
for the $68, 000 home is 6 .5% over 1993's taxes and the homes valued between
$72, 000 and $250, 000 a31 experience an 8% increase. The numbers for the
County, School District and Special Districts are strictly estimates only
to be used as possible comparisons.
We have one month to prepare for our Public Hearing. We are proposing
meeting at least twice prior to the Hearing. Our suggested meeting dates
were made trying to conflict as little as possible with other commissions,
committees, etc, The first proposed date is Monday, November 8th, at
6 .30 p.m. There is a Utility Commission that evening, but that meeting can
be moved to another location at City Hall. The second proposed date is
Thursday, Nflvember 18th, at 6 :30 p.m.
The week following the second meeting date is Thanksgiving week and the
following week is the week of the Public Hearing. If necessary, we can
meet during this time also, but the Holiday week is traditionally a
difficult time ta get everyone together. Staff is prepared to da what is
necessary to prepare for the December 2nd Public Hearing.
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RECO�TDED ACTION: �
Motion to set Special Council Meetings for Monday, November 8th, at °
6;30 p.m. , and Thursday, November 18th, at 6:30 p.m. , for the purpose
of 1994 Budget/Levy discussions.
COUNCIL ACTION: �
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1NORKSFIEET f�i ESTIMATiNQ PflOPERTY TNtE3 Q3D M 148 FIGUAES)
Market Yalue 88.000 72,Q00 110,000 160.000
Yeu 1882 M~1083� 188#E�t � 1882 1983 189<Est M 1892 •1983 1984 Est 1992 1883 1884 Est
TaxCapaciry � 880 .........8B0 -- 880 ��,720 �•W,7� 720 t,480 t�480 t.480 2�455 2.280 2�280
Tax Capscity Rates:
CNy 28.224% 29.810% 32.208% 28.224% 26.810% 32.208% 28.224% 28.810% 32.208% 28.224% 29.8/0% 32.2089G
County 25.538% 28:558% 27.b80% 25.538% 28.558% 27.580% 25:536% 28.55846 27.580% 25.538% 28.:�@% 27.880%
Schooi Dlsttkt 65.881% 80.188% �4.�5% 55.681% 80.19B9G 84.895% 55,881% 80.188% 84.69596 55.881% Q0.188% 84.885%
Mlstailaneous 5.080% 3.7IXi% 2.348% 8.080% 3.�0�94 2.348% 5.080% 3.703% 2.346% 5.080% 3.T039G 2.348%
Adjustment
Total 115.501%� 120259% 128.629% 116.501% 120.258% 128.8269L 115.5019L 120.2599L 128:8299G 115.501% 120.259% 128.828%
a.:�:. �. ...��. ..� ..��.� �� . as.aaa sa=�d� :e:�� ���a:se ���s: ::=d:�
Property Taxes:
Cily 198 203 210 210 215 232 433 441 477 717 880 734
Cw,nty i74 181 188 184 191 188 378 383 408 827 808 626
ScAool DlsWct 376 4� 4C0 ' 401 433 48B 824 8Ht 857 1.387 1,372 1,475
Mluellaneoua 34 25 18 38 27 17 75 55 35 124 84 53
AdJuslmeM
� 78S �...-818 ^� 882 � �832 ��888 •�w 813 1,708 1,780 1.877 2.838 2,742 2,892
...�� �...� ..��.� ee�� ��. � ::m•e: a::s:� eaase�:m ��aa: . e.:::. �.:���
Market Value 200,000 250,000 Nistory of Actual Tau Capaclty Ratas{ltsing ISO N198 flates)
._..._........ ................. _._........---.. ......._........ ..»...._....... ........._.. .. .........
Year 1982 1�3 1884 Est 1882 1853 1894 Est 1889 1980 1881 1892 1�3 1�4 Est
Tax Gapecily 3,7� 3,280 3,280 4,955 4,280 4,280
Tauc Capacity Rates:
e�H ze.7zex ze.e�ox a2.zoex zs.z2a% 2s.e�ox az.zoa� ze.e�ex 22:00�% 2�.�osx 2e.rlax ze.e�ox s2.2oax p)
County 25.538% 28.5389G 27.380% 25,538% 28.558% 27.58096 20,721% 21.081% Y2.54296 25.538% 28.558% 27.58096(�
School DisUkt 55.681% 80.168'% 84.�5% 55.881% 80.188% 84.885% 52.T97% 42.1509b 48.558% 55.881% H0.18896 84.89S9G(2j
Misceilaneous 5.080% 3.70.79L 2.3�8% 5.080% 3.703% 2:348% 3.450% 3.008% 3.477% 5.080% 3.703% 2.348%(?J
AdjusUnent
Total �115:50i%~�20.2589G w 128.828% 115.501% 120258% 128.82976 103.8479� 88.221% 102.28396 115.501% 120.259% 128.828%
:a:=�. ....:� .�. ..e� �.�.. �..... .e��.: e�.e:e :essazsc :s�:: � .. :���..
Property Texes:
City 1,083 878 t,D58 1,448 1,278 1,378 Net Tex Capacity Percentsges
County 848 B71 905 1,285 1,137 1,160 ForRosldantlNHomesteads.
SchoolDisUkt 2,083 1,874 2,122 2,759 2,578 2,788 Flrst572,000 1.0 1.0 1.0
M3scetlaneous 187 121 77 251 158 100 572.000-5113,000 2A 2.0 2.0
AdJustmeM Over 5115,000 2.5 2.0 2.0
�,279 3,844 4,190 5,723 5,147 5,428
Qaamas as s �:���� sa�a�s asaa .ssse:a �
(1) Thla Flgure Dadved Uslog:
(aa 1884 ProUmtnary levy CertiBed to County less Flscal DlsparlUes 2,351,589 2,351,588/7,301,360=.32208
(b) Net Tex Capaclry Figure as of 10/7/93 8,131,590
(c)Captured Tax I�rsment Tax CapaeNy as of 10/7/83 (455,W t)
(tp Contrlbudon to Fiacal Dlaparltles ee of 10/7/83 (1,375,13�
Esqmeted Te�cable Net Tax Cnpeciry 7,301,360 7,301,380
{�These Figurea Dedved Using'X>Incroase trom 1892 to 19fi3 3 Applying It to 1884
. . _,
SPREAD LEVY COMPUTATIONAL WORKSHEET
1992 1993 1994
Total Funding Requirements 4,061,064 4,429,363 4,804,30Q
Less:Internal Revenues 1,025,092 1,219,450 1,026,�55
I.ess Use of CIP Reserves 0 0 1?S,OUO
Equals:Revenues Needed 3,035,972 3,209,9r3 3,602,545
(City Adjustmeats-Subtractions)
Locat Government Aid(LGA) 287,859 296,512 380,794
Homestead&Agricultural Credit Aid(HACA) N/A N/A 555,804
I,evy Certified by City to County Avditor 2,748,113 2,913,401 2,665,947
(CQunty Aaditor Ad justments-Subtractions) �
Fiscal Disparities Distribution Levy(Metro Area) 310,Q34 302,808 314,358 (2j
Certified$omestead&Agricultural Credit Aid(HACA) 448,063 525,257 N/A
Equalization Aid 82,692 82,973 N/A
Disparify Reduction Aid N/A N/A N/A
Spread Levy(Used to Compute Local Tax Rate) 1,907,324 2,002,363 (1) 2,351,589
Increase from Previous Year in Spread Levy 4.98% 17.44%
(1) Actual Spread I,evy Based on Numbers from County
(2) County's 10/7/93 Figure
Last Update-I0I08/93
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