05/09/2005 Council Packet - Laserfiche WebLink

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1 1 1 1 1 z 1 4 1 Recommended Funding Sources 29 G.O. Improvement Bonds issued to finance the reconstruction projects each year. The maximum property tax impact occurs in 2014 and is projected to range from approximately $92 to approximately $140 depending on the rate of growth in the City's tax base. This again is less than all the other options including paying for all the cost on an annual basis with a property tax levy ($358 to 452), G.O. Improvement bonds alone ($116 to $178) or G.O. Bonds ($136 to $206) because the revenues from both the special assessments and the storm water utility reduce the reliance on property taxes. Property tax impacts would continue through 2029 when all the G.O. Improvement Bonds issued have been repaid. Additional property tax impacts after 2014 would depend on how the City decided to fund the PMR in subsequent years. Year 2005 Projected Tax Rate Impact (5% Growth) 2006 2007 2008 2009 2010 2011 1.529% Annual Impact $ 34.93 Projected Tax Rate Impact (7.5% Growth) 2.140% 2.605% 1.529% $ 48.87 2.090% 3.429% 4.240% 2012 2013 2014 $ 59.49 $ 78.31 2.485% Annual Impact $ 34.93 $ 47.73 Projected Tax Rate Impact (10% Growth) $ 56.76 3.195% $ 72.97 5.107% 5.393% 96.83 $ 116.63 3.859% $ 88.13 4.540% 5.656% 5.901% 6.140% $ 123.18 $ 129.19 4.683% $ 103.69 $ 106.96 $ 134.78 $ 140.23 4.797% $ 109.57 4.889% $ 111.66 4.968% 113.47 1.529% 2.042% 2.373% 2.982% 3.520% 4.047% 4.080% 4.084% 4.067% Annual Impact $ 34.93 $ 46.65 $ 54.21 $ 68.11 $ 80.39 $ 92.43 $ 93.18 $ 93.28 $ 92.90 4.039% $ 97 ,F $160.00 - $140.00 - $120.00 - $100.00 - $80.00 - $60.00 $40.00 - $20.00 - City of Lino Lakes, Minnesota PMP Financing Plan Property Tax Impacts On A Home Valued At $228,400 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 I-0 Annual Impact 5% Growth -* Annual Impact 7.5% Growth *Annual Impact 10% Growth 1 Springsted - 1 9 8 - City of Lino Lakes - Pavement Management Plan Financing Report