HomeMy WebLinkAbout2020 Tax Impact SenariosProposed Pay 2020 Property Tax Impact Worksheet
Taxing District:
STEP 1 - Calculate the Taxing District's Tax Rate:
Actual Proposed %
Item Pay 2019 Pay 2020 Change
(A)(B)(C)
1.Levy before reduction for state aids $4,179,839 $4,949,823 18.4%$769,984 Change in Levy
2.State Aids - $0 $0 0.0%
3.Certifed Property Tax Levy = $4,179,839 $4,949,823 18.4%
4.Fiscal Disparity Portion of Levy - $199,221 $249,327 25.2%
5.Local Portion of Levy = $3,980,618 $4,700,496 18.1%
6.Local Taxable Value ÷ 17,361,919 20,091,583 15.7%***This is an Estimate from Washington County***
7.Local Tax Rate = 22.927%23.395%2.0%
8.Market Value Referenda Levy $0 $0 0.0%
9.Fiscal Disparity Portion of Levy (SDs only)- $0 $0 0.0%
10.Local Levy = $0 $0 0.0%
11.Referenda Market Value ÷ 0 0 0.0%
12.Market Value Referenda Rate = 0.00000%0.00000%0.0%
STEP 2 - Calculate the Impact of the Taxing District's Rate on Residential Homestead Taxes:
13.Assumes a 5.0%change in market value from 2019 to 2020, which is the city median change.
(D)(E)(F)(G)(H)(I)
Taxable Homestead Taxing
Market Market Taxable District
Value Value Market Tax Net
B/4 Credit Exclusion Value Capacity Tax
Actual Pay 2019
Pay 2019 76,000@.40%500,000@1.0%(A7 x G) +
MV - rem up to 413799 @.09%(D - E)rem @ 1.25%(A12 x D)
14.Estimated Tax District rate as % of total rate: N/A
15.142,900 24,400 118,500 1,185 $271.68
16.397,000 1,500 395,500 3,955 $906.76
17.333,300 7,200 326,100 3,261 $747.65
18.476,200 0 476,200 4,762 $1,091.78
19.714,300 0 714,300 7,679 $1,760.56
(D)(E)(F)(G)(H)(I)
Taxable Homestead Taxing
Market Market Taxable District
Value Value Market Tax Net
B/4 Credit Exclusion Value Capacity Tax
Proposed Pay 2020
Pay 2020 MV 76,000@.40%500,000@1.0%(B7 x G) +
X 1.05 - rem up to 413799 @.09%(D - E)rem @ 1.25%(B12 x D)Annual Increase Monthly incr.Annual Increase Monthly incr.Annual Increas Monthly incr.
20.Estimated Tax District rate as % of total rate:
21.150,000 23,700 126,300 1,263 $295.48 $23.80 1.98$ ($24.60)(2.05)$ $48.40 4.03$
22.416,812 0 416,812 4,168 $975.10 $68.34 5.70$ ($91.37)(7.61)$ $159.71 13.31$
23.350,000 5,700 344,300 3,443 $805.49 $57.84 4.82$ ($74.10)(6.18)$ $131.94 11.00$
24.500,000 0 500,000 5,000 $1,169.75 $77.97 6.50$ ($113.63)(9.47)$ $191.60 15.97$
25.750,000 0 750,000 8,125 $1,900.84 $140.28 11.69$ ($171.07)(14.26)$ $311.35 25.95$
Taxable Homestead Taxing
Market Market Taxable District
Value Value Market Tax Net
B/4 Credit Exclusion Value Capacity Tax
Percentage Change from 2018 to 2019
26.5.0%-2.9%6.6%6.6%8.8%
27.5.0%-100.0%5.4%5.4%7.5%
28.5.0%-20.8%5.6%5.6%7.7%
29.5.0%0.0%5.0%5.0%7.1%
30.5.0%0.0%5.0%5.8%8.0%
Total Change and Fiscal Disparities Impact from Levy Incr
2% Tax Rate Increase
Impact from Market Shifts