2017 Tax Levy and General Fund Budget Overview
2017 tax levy payable and general fund budget details, including proposed levy increases, tax rate comparisons, notable expenditures, revenue sources, and more. Dive into the financial insights of Carver County's budget allocations and tax implications.
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Presentation Transcript
2017 Tax Levy Payable & General Fund Budget
Proposed 2017 Tax Levy Increase of $63,349 from 2016 tax levy. (+5.7%) All non-enterprise fund debt service is covered. Tax rate would reduce for third straight year (-1.433%). Local Government Aid set to increase by $718. Levy funds to make up 57.3% of General Fund Revenue.
Carver County 2017 Proposed Tax Rate Comparison Based on 5.7% Levy increase, Cologne s 2017 tax rate would be 69.529%.
How Tax Rate Affects Taxes Paid City tax amount payable is calculated by taking the taxable value times the class rate (.01), multiplied by the tax rate (70.962% in 2016.) $109,000*.01=$1,090 $1,090*70.962%=$773.49
Tax Rates 2013-2017 0.9 0.85 0.8 Proposed Rate (72.945%) 0.75 Final Tax Rate 0.7 0.65 0.6 2013 2014 2015 2016 2017
2017 General Fund Notable Expenditures: Replacement of 1997 pickup truck Continuation of milling/overlay of roads and sealing trails Increase in Fire Department Relief Association pension to $1,500 per year of service Expenditure Budget General Government Public Safety Streets Culture & Parks 6% 36% 31% 27%
Budget vs. Expenditure & Levy $1,500,000 $1,400,000 $1,300,000 General Fund Budget $1,200,000 Actual Expenditure Levy Amount $1,100,000 $1,000,000 $900,000 2012 2013 2014 2015 2016 2017
2017 General Fund Notable Revenue Sources Expect 15 new home builds. LGA $201,171, increase of $718. Small Cities Assistance Fund dollars not in the revenue budget ($23,955 in 2015) Revenue Property Tax Licences & Permits State Aid Charges for Service Miscellaneous 4% 14% 18% 57% 7%
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