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2012-2013
Fiscal Budget Presentation
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Presentation Components
The Re-valuation Process
What is the Mill Rate?
How do we maintain the level of service that we
currently have?
Initiatives in the new budget
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The Re-valuation Process Re-valuations occur every 5 years per Connecticut State Statute
Re-valuation is a self leveling instrument designed to bring
property values in line with current market conditions
2011 was a re-valuation year for the Town of Seymour
Last re-valuation was 2005 (extension in 2010)
Vision Appraisal was hired to conduct re-valuations
Most residential property appraisals decreased
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The Assessor compiles an annual Grand List The Grand List is the aggregate valuation of taxable
property within a given town.
Gross numbers not reflecting exemptionsGrand List Item 2010 2011
Residential $ 1,108,479,570.00 $ 931,066,900.00
Commercial/Industrial
$ 228,419,710.00 $ 203,288,540.00
Personal Property $ 60,652,900.00 $ 59,224,550.00
Motor Vehicle $ 104,045,450.00 $ 108,227,550.00
$ 1,501,597,630.00 $ 1,301,807,540.00
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71%
16%
5% 8%
Seymour Grand List 2011
Residential74%
Comm/ Ind15%
Pers Prop4%
MotorVehicle
7%Seymour Grant List 2010
SHIFT IN TAXBURDEN
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-
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
900,000
1,000,000
1,100,000
1,200,000
ResidentialComm/ Ind
Pers PropMotor Vehicle
Residential, 1,108,480
Comm/ Ind, 228,420
Pers Prop, 60,653Motor Vehicle, 104,045
931,066
203,289
59,225 108,228
Seymour Grand List 2010 and 2011 Revaluation(in thousands)
GL 2010
GL 2011
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The Mill Rate A mill is equal to $1.00 of tax for each $1,000 of
assessment
The mill rate is calculated and reflected on your Julytax bills using the October Grand List from theprevious year (2011)
2011 - 27.62 2010 - 26.78 2009 - 25.8 2008 - 25.52
Last years budget
with this yearsMill Rate = 31.95
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Residential,27,534,465.38
Comm/ Ind,5,581,310.55
Pers Prop,1,488,349.48
Motor Vehicle,2,604,611.59
Residential,26,418,203.27
Comm/ Ind,
5,953,397.92
Pers Prop,1,860,436.85
Motor Vehicle,2,976,698.96
The effect on lastyears Budget with the
reVal Grand List
Comparing last years budget with taxes generated from last years Grand List
Comparing last years budget with taxes generated from this years Grand List
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Residential,29,335,483.30
Comm/ Ind,5,946,381.75
Pers Prop,1,585,701.80
Motor Vehicle,2,774,978.15
The effect on Thisyears Budget with
Last Years Grand List (Before ReVal)
Comparing this years budget with taxes generated from last years Grand List
Comparing this years budget with taxes generated from this years Grand List
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Objectives to maintain thecurrent level of service
Maintain infrastructure Preserve safe environment Develop plan for disaster response
Prepare to face the challenges for the future Manage debt service maintain AA- Develop a 5 year and a long term capital plan to distribute fiscal
budgetary impact avoiding spikes and stabilizing mill rate
Set goals for educational excellence Structure programs for economic development Forge bonds through community activities
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INITIATIVES Bring in new businesses Create new jobs Provide economic vitality A more professional approach to government Reorganize government for additional efficiency Human Resources Technology Capital Plan Road Program
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24% will payless in taxes
35% of peoplewill pay
$0-200 morein taxes
20% will pay$200-$400
more
4% will pay $400-$500 more
11% will pay
$500-$1000 more
6% will pay
$1000+
Effect of ReVal on Residential Taxdollars
Current ProposedMill Rate:
33.92
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Town of Seymour Budget Hearing 2012
Board of Education Budget IncreasesReceived in the last 3 years
2009 0% $0.002010 0% $0.002011 2.3% $677,312.00
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Town of Seymour Budget Hearing 2012
Departments that show a significantincrease over the previous year budget
Board of Finance 10.20% $ 6,367.00Probate Court 8.33% $ 1,000.00Selectmans Office 21.29% $41,266.00Economic Development 67.42% $30,000.00
Economic Development Commission 130.82% $20,800.00Registrars of Voters 11.46% $ 8,800.00Town Counsel 15.00% $30,000.00Town Computers / Data Processing 218.47% $96,125.00Town Contributions-Misc. 70.44% $11,500.00Town Contributions-Recreation 43.48% $ 7,500.00
Emergency Management 86.20% $10,629.00Fire Department 13.83% $51,613.00Dog Warden 11.88% $ 4,450.00
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Departments that are fixed costs in the budget
Personnel Benefits Sick Pay 2.53% $ 4,465.00Health Insurance 8.91% $175,183.00Social Security 0.41% $ 1,249.00Retirement 8.58% $ 68,793.00
Longevity 2.97% $ 2,161.00Town Insurance 9.61% $119,371.00Capital Reserve 100% $100,000.00Town Contingency 5.70% $100,000.00Debt Service -0.31% $-15,189.00
Town of Seymour Budget Hearing 2012
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Departments that show a 0% increase or a decreaseover the previous year budget
Planning & Zoning -1.16% $ -250.00Town Meetings Public Hearings 0% $ 0.00Town Treasurer 0% $ 0.00Assessors Office -36.07% $-109,124.00Printing & Legal Ads 0% $ 0.00Inland/Wetland -65% $ -16,470.00Conservation Aquifer Protection Agency 0% $ 0.00Board of Zoning Appeals 0% $ 0.00Town Planner 0% $ 0.00Town Engineer 0% $ 0.00Valley Emergency Medical Service 0% $ 0.00Lake Authority -0.15% $ -20.00Water-Fire Hydrants 0% $ 0.00
Highway Materials -1.73% $ -2,907.00Street Lighting -2.94% $ -5,000.00Services to the Elderly -11.46% $ -17,381.00Culture & Arts Commission -6.71% $ -2,800.00Parks -3.38% $ -4,007.00Valley Council of Governments -4.93% $ -527.00
Town of Seymour Budget Hearing 2012
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