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6.446%
<br />147.23
<br />5.746%
<br />6.715%
<br />6.942%
<br />7.134%
<br />7.300%
<br />153.37
<br />158.56
<br />162.94
<br />166.74
<br />5.850%
<br />5.910%
<br />5.935%
<br />5.936%
<br />46.65
<br />61.11
<br />86.48
<br />109.22
<br />$ 131.25
<br />$ 133.61
<br />$ 134.99
<br />S 135.56
<br />135.58
<br />Available Funding Sources
<br />I2
<br />Projected
<br />Total Tax Capacity
<br />(5% Growth)
<br />15,468,021
<br />16,241,422
<br />17,053,493
<br />17,906,168
<br />18,801,476
<br />19,741550
<br />20,728,628
<br />21,765,059
<br />22,853,312
<br />23,995977
<br />Year Levy
<br />2005 236,538
<br />2006 347,500
<br />2007 500,750
<br />2008 779,500
<br />2009 1,083.000
<br />2010 1,431,500
<br />2011 1.603,000
<br />2012 1,781,500
<br />2013 1.968,000
<br />2014 2,165,000
<br />Projected
<br />Tax Rate Tax Capacity
<br />Impact (7.5% Growth)
<br />Projected
<br />Tax Rate Tax Capacity
<br />Impact (10% Growth)
<br />1.529% 15,468,021
<br />2.140% 16,628,123
<br />2.936% 17,875,232
<br />4.353% 19,215,874
<br />5.760% 20,657,065
<br />7.251% 22.206,345
<br />7.733% 23,871,820
<br />8.185% 25,662,207
<br />8.611% 27,586,872
<br />9.022% 29,655,888
<br />1.529% 15,468,021
<br />2.090% 17,014,823
<br />2.801% 18,716,305
<br />4.057% 20,587,936
<br />5.243% 22,646,730
<br />6.446% 24,911,403
<br />6.715% 27,402,543
<br />6.942% 30,142,797
<br />7.134% 33,157,077
<br />7.300% 36,472,784
<br />Tax Rate
<br />Im ctI
<br />1.5ps 29%
<br />2.042°/
<br />2.675°
<br />3.786%
<br />4.782%
<br />5.746%
<br />5.850%
<br />5.910%
<br />5.935%
<br />5.936%
<br />The projected property tax impacts on a residential home in the City valued at
<br />$228,400 are shown in the following table. The 2005 projected property tax
<br />impacts represents the City's actual 2005 levy for street maintenance. The 2006
<br />projected property tax impacts reflect only maintenance costs for sealcoating
<br />and overlaying from the PMR. The projected property tax impacts for 2007
<br />through 2014 reflect both maintenance costs for sealcoating and overlays and
<br />debt service on the G.O. Bonds issued to finance the reconstruction projects
<br />each year. The maximum property tax impact occurs in 2014 and is projected
<br />to range from approximately $136 to approximately $206 depending on the rate
<br />of growth in the City's tax base. Property tax impacts would continue through
<br />2029 when all the G.O. Bonds issued have been repaid. Additional property tax
<br />impacts after 2014 again would depend on how the City decided to fund the
<br />PMR in subsequent years.
<br />Year
<br />2005
<br />2006
<br />2007
<br />Projected
<br />Tax Rate Impact
<br />(5% Growth)
<br />1.529%
<br />2.140%
<br />Projected
<br />Annual Tax Rate Impact
<br />Impact (7.5% Growth)
<br />34.93
<br />48.87
<br />67.07
<br />1.529%
<br />2.090%
<br />2.801%
<br />Annual
<br />Impact
<br />34.93
<br />Projected
<br />Tax Rate Impact
<br />(10% Growth)
<br />1.529%
<br />Annual
<br />Impact
<br />34.93
<br />47.73
<br />2.042%
<br />63.98
<br />2.675%
<br />99.43
<br />4.057%
<br />5.243%
<br />92.65
<br />119.74
<br />3.786%
<br />4.782%
<br />7.251% $
<br />165.62
<br />2014 ,
<br />8.185%
<br />8.611%
<br />176.63
<br />186.95
<br />196.69
<br />9.022% $ 206.07
<br />Springsted
<br />As stated previously, this funding alternative would require the City to obtain
<br />the approval of a majority of voters voting on the question.
<br />One disadvantage of using voter approved General Obligation Bonds is that tax
<br />exempt properties would not contribute to the funding of the PMR.
<br />- 1 8 1 -
<br />City of Lino Lakes - Pavement Management Plan Financing Re
<br />
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