Finance - Budgets - Property Tax Revenue FY06/07 - 08/04/2006PROPERTY TAX REVENUE FY 06/07
8/4/2006 Final Budget Figures from the County
Computation of 3% budget increase:
Highest of the last 3 years approved non-exempt budget (1)$1,503,256
Multiply line 1 by 3%(2)$45,098
New Construction & Annexation budget increases:
2006 value of new construction tax roll:(3)$240,231,999
2006 value of annexation that occurred in 2005 (4)$26,851,500
Total 2005 approved non-exempt levy rate (5).000873501
New Construction Roll budget increase (multiply line 3 by line 5)(6)$209,843
Annexation budget increase (multiply line 4 by line 5)(7)$23,455
Foregone Amount (8)$1,052
Maximum Allowable Non-exempt Property Tax Budget:
Add lines 1+2+6+7+8 (9)$1,782,704
Property Tax Replacement
Enter the yearly amount of the agricultural replacement money here (10)$19
Enter recovered Homeowner's Exemption property tax here (11)$0
Enter recaptured property tax execption inlieu of Investment Tax Credit here (12)$0
Enter the total of lines 10, 11, and 12: (Must match col. 5 of L-2)(13)$19
Maximum Allowable Non-exempt Property Tax to be Levied:
Subtract line 13 from line 9 (14)$1,782,685
FY 05/06 TOTAL TAX REVENUE $1,502,894.00
FY 05/06 TOTAL TAX REVENUE PAID TO LIBRARY $732,698.00
FY 05/06 TOTAL TAX REVENUE PAID TO CITY HALL $770,196.00
New Construction Tax Roll 40.95% increase over last year = $240,231,999.00
Annexation Value - $26,851,500.00 - Annexation Value FY05/06 $13,060,800.00
K:\BUDGET\2007\Property Taxes\Property Tax Allocation.xls
Total Property Tax Revenue FY 05/06 - $1,502,894.00
Total Property Tax Revenue FY 06/07 - $1,782,685.00 - .1862% Increase
Distribution of Property Tax Revenue:
Library:
Property Tax Revenue FY 05/06 $732,698
Increase in property tax for FY 06/07 $135,732
Total Property Tax Revenue FY 06/07 $868,430
8/8/06 Budget Meeting - Library Contingency Fund to
be transferred to the General Fund - $76,474.00 -$76,474
Total Property Tax Revenue FY 06/07 $791,956
City Hall:
Property Tax Revenue FY 06/07 $770,196
Increase in property tax for FY 06/07 $144,059
Total Property Tax Revenue FY 05/06 $914,255
8/8/06 Budget Meeting - Library Contingency Fund to
be transferred to the General Fund - $76,474.00 $76,474
Total Property Tax Revenue FY 06/07 $990,729
Total Property Tax Revenue FY06/07 $1,782,685
K:\BUDGET\2007\Property Taxes\Property Tax Allocation.xls