Finance - Budgets - Property Tax Revenue FY 03/04 - 06/04/2003PROPERTY TAXES
PROPERTY TAX REVENUE FY 03/04
Computation of 3% budget increase:
Highest of the last 3 years approved non-exempt budget (1)$958,863
Multiply line 1 by 3%(2)$28,766
New Construction & Annexation budget increases:
2003 value of new construction tax roll:(3)$143,635,264
2003 value of annexation that occurred in 2002 (4)$13,800,800
Total 2002 approved non-exempt levy rate (5).000966043
New Construction Roll budget increase (multiply line 3 by line 5)(6)$138,758
Annexation budget increase (multiply line 4 by line 5)(7)$13,332
Maximum Allowable Non-exempt Property Tax Budget:
Add lines 1+2+6+7 (8)$1,139,719
Agricultural Equipment Property Tax Replacement Money:
Enter the yearly amount of the agricultural replacement money here (9)$19
Maximum Allowable Non-exempt Property Tax to be Levied:
Subtract line 9 from line 8 (10)$1,139,700
Total Property Tax Revenue FY 02/03 $958,844
Total Property Tax Revenue FY 03/04 - $1,139,700 - 18.8% increase
Distribution of Property Tax Revenue:
Library: 18.9%
Property Tax Revenue FY 02/03 $504,488
18.9% increase in property tax revenue $95,467
Total Property Tax Revenue FY 03/04 $599,955
City Hall:18.8%
Property Tax Revenue FY 02/03 $454,356
18.8% increase in property tax revenue $85,389
Total Property Tax Revenue FY 03/04 $539,745
Total Property Tax Revenue $1,139,700
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