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Below is the effect of decertification of TIF district 2 (adds $149,833 in tax capacity) and levy
<br />increases of 1, 2, and 3 percent on residential properties for the City levy only for 2016 based
<br />on 2015 values.
<br />
<br />Sample Estimated Home Tax Impact
<br />City of Mounds View Only
<br />Decertify
<br />TIF 2
<br />2015 2015 2016 2016 2016 2016
<br />Market Taxable 2015 Tax No levy Tax 1% levy Tax 2% levy Tax 3% levy
<br />Value Value Tax Increase Increase Increase Increase
<br />54,050$ 32,450 146 144 146 148 149
<br />108,100 80,700 361 358 362 367 371
<br />162,150 139,550 625 619 627 634 642
<br />216,200 198,500 889 880 892 903 914
<br />270,250 257,350 1,153 1,142 1,156 1,170 1,185
<br />324,300 316,300 1,417 1,403 1,421 1,439 1,456
<br />378,350 375,250 1,681 1,665 1,686 1,707 1,728
<br />432,400 432,400 1,938 1,919 1,943 1,967 1,991
<br />486,450 486,450 2,180 2,159 2,186 2,213 2,241
<br />Tax
<br />capacity for Local
<br />local rate tax rate Tax Levy
<br /> 2005 6,679,189$ 46.966 3,838,994
<br /> 2006 7,533,462 39.939 3,838,994
<br /> 2007 8,364,245 37.328 3,838,994
<br /> 2008 8,574,618 34.962 3,838,994
<br /> 2009 8,475,755 32.351 3,799,393
<br /> 2010 7.9% levy increase (Streets)7,580,259 40.968 4,099,393
<br /> 2011 2% levy increase (Gen Fund)7,039,380 41.172 4,181,381
<br /> 2012 (Mkt. Value Homestead Credit ended)6,421,849 48.893 4,181,381
<br /> 2013 6,026,790 50.422 4,181,381
<br /> 2014 2% levy increase (Gen Fund)6,985,345 44.301 4,265,010
<br /> 2015 2% levy increase (Gen Fund)7,642,870 42.886 4,350,310
<br /> 2016 after TIF Dist 2 decertified 7,792,703 42.450 4,350,310
<br /> 2016 after TIF Dist 2 decertified and 1% levy increase 7,792,703 43.008 4,393,813
<br /> 2016 after TIF Dist 2 decertified and 2% levy increase 7,792,703 43.567 4,437,316
<br /> 2016 after TIF Dist 2 decertified and 3% levy increase 7,792,703 44.125 4,480,819
<br />The above is an estimate of the effect on property taxes after TIF District 2 is decertified.
<br />Taxes will decline by 1.02%
<br />The City has settled all three union contracts (LELS Patrol, LELS Sergeants, and Public Works)
<br />for 2014, 2015, and 2016, with a cost of living wage increase of 2%. In addition, 15 employees
<br />will receive step or longevity increases in 2016 of 2% to 10%. Health insurance premium
<br />increases are not known, we will receive our rate notice in mid October. The impact to the
<br />budget will depend upon the size of the unknown rate increase. The City’s health insurance
<br />contribution increased $10 in 2015 to $990 per month compared with $20 in 2014. Past
<br />premium increases were as follows: 4.6% for 2015, 5.1% for 2014, 20% for 2013, 21% for
<br />2012, and 0% for 2011.
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