City of Marshall 2014 Budget/Tax Levy Public Hearing December 10, 2013 6:30 p.m.
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Transcript of City of Marshall 2014 Budget/Tax Levy Public Hearing December 10, 2013 6:30 p.m.
City of Marshall2014 Budget/Tax Levy
Public HearingDecember 10, 2013
6:30 p.m.
Office of the City Administrator
Budget/Tax Levy Meeting
Initial Hearing, 6:30 P.M. December 10, 2013.
Continuation Hearing 5:30 P.M. December 17, 2013 (if continued by Council tonight).
Adoption, December 17, 2013
Presentation
Focus on those funds related to property tax levies.
Historical information on tax rates. Revenues and Expense Summaries 2014. Public Comment or Questions.
Certified Levy 2013 $4,974,983 Certified Preliminary Levy 2014 $5,119,357 The proposed increase from 2013-2014 is
$144,474, or increase of 2.9%.
Proposed Tax Levy
Total proposed — All non-property tax = Property tax revenue needed (levy)local budget revenue, eg:
*State aid*Fees, etc.
Taxable x State mandated class = Total "tax capacity" market value rates
Property tax ÷ Total "tax capacity" = Property tax rate ("tax capacity" revenue needed extension rate)(levy)
How are property tax rates determined?
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Tax Capacity Without TIF
6397200 6777687 7463527 8215275 8520358 9061565 9506725 9663390 9605127 9913382 10209421
TIF Tax Ca-pacity
1048019 1145119 1157109 1211481 1248477 1302986 969691 936888 594484 598146 545463
Series3 NaN NaN NaN NaN NaN NaN NaN NaN NaN NaN NaN
Total Tax Ca-pacity
7445219 7922806 8557866 9426756 9768835 10364551 10476416 10600278 10199611 10511528 10754884
500,000
1,500,000
2,500,000
3,500,000
4,500,000
5,500,000
6,500,000
7,500,000
8,500,000
9,500,000
10,500,000
11,500,000
City of MarshallTax Capacity - (2004 - 2014)
Library$524,405
10%
Special Levy $1,207,883
24%
Economic Devel-opment Authority
$119,6772%
General Fund$3,267,392
64%
2014 Marshall Property Tax Levy
TOTAL $5,119,357
Fund Description Property Tax Levy Funding ($)
General Fund $3,267,392
Library $524,405
Economic Development $119,677
Debt Service $1,207,883
Subtotal $5,119,357
2014 ProposedUse of Property Tax Revenue
HOW IS MY 2014“CITY”TAX DOLLAR ($1.00) SPENT?
General Fund LibraryDebitService (1)
Economic Development (2)
64¢ 24¢10¢ 2¢14¢ - General Government – (Senior Center, Transit, Data Processing, Municipal Building, Community Development, Administration, Finance/Clerk, Assessing, Legal, Cable, Mayor/Council, Motor Pool, Duplication, Safety, Human Rights)
20¢ - Public Safety – (Police, Fire, Emergency Management, Animal Control, Chemical Assessment Team, Ambulance Bldg.)
20¢ - Public Works – (Engineering, Street, Airport, Street Lighting, Building Inspection, Public Way Maintenance)
10¢ - Culture & Recreation – (Parks, Recreation, Community Education, Aquatic Center, Band, Ice Arena, Youth Development, Community Services Administration/General)
64¢
City of Marshall2014 Budget & Levy Public Hearing
Tuesday, December 10, 2013- 6:30 P.M.Professional Development Room
Marshall Middle School, 401 South Saratoga Street
1. Public Hearing on 2014 Budget & LevyA. Staff PresentationB. Public Comment
2. Continuation Hearing of 2014 Property Tax Levy/Budget:(if necessary)
December 17, 20136:30 P.M.
Marshall Middle School, 401 South Saratoga Street
3. Adoption of 2014 Property Tax Levy/Budget:Regular City Council Meeting
December 17, 20136:30 P.M.
Marshall Middle School, 401 South Saratoga Street
2013Revenues
2014 Revenues
806,960 831,424
2013 Expenses
2014Expenses
806,960 862,316
Marshall-Lyon County Library
2013Revenues
2014Revenues
119,677 119,677
2013 Expenses
2014 Expenses
133,281 129,641
Economic Development