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<br />
<br />A summary of the impact on a median valued home and the city tax rate based on the preliminary value
<br />information is as follows:
<br />
<br />
<br />
<br />UTILITY RATES
<br />
<br />Sewer Fund
<br />Staff is proposing a 4% increase in rates. The impact on a household that uses an average of 16,000 gallons of
<br />water per quarter would be $4.23 per quarter or $16.92 per year. Because the plan is to complete $500,000 of
<br />sewer lining in 2025, the fund will still realize a cash loss in 2025, but the 4% rate increase will assist in maintaining
<br />a sufficient cash balance for the long term.
<br />
<br />Street Lighting Fund
<br />Staff is proposing a 5% increase in rates. The impact on a household would be $0.25 per quarter or $1.00 per
<br />year. This fund had no rate increases from 2019 to 2023.
<br />% levy increase Total levy amt $ levy increase General Fund - Balanced budget
<br />EDA 10,000 Increase levy
<br />9.87%7,564,224$ 679,456$ Street Improvement 150,000 Increase levy
<br />Value of Value of Taxable
<br />Property for Property for Value for $ %
<br />Pay 2024 Pay 2025 Pay 2025 Pay 2024 Pay 2025 CHANGE CHANGE
<br />90,000$ 91,800$ 55,080$ 234$ 235$ 1$ 0.4%SCENARIO #4
<br />160,000$ 163,300$ 131,400$ 517$ 547$ 30$ 5.8%
<br />240,000$ 244,900$ 220,400$ 840$ 910$ 70$ 8.4%
<br />317,600$ 324,100$ 306,700$ 1,154$ 1,263$ 110$ 9.5%
<br />400,000$ 408,200$ 398,400$ 1,487$ 1,638$ 151$ 10.1%
<br />500,000$ 510,200$ 509,600$ 1,864$ 2,101$ 238$ 12.7%
<br />600,000$ 612,300$ 612,300$ 2,324$ 2,622$ 298$ 12.8%
<br />9.00%7,504,397$ 619,629$ Reduce above amount by $59,827
<br />Value of Value of Taxable
<br />Property for Property for Value for $ %
<br />Pay 2024 Pay 2025 Pay 2025 Pay 2024 Pay 2025 CHANGE CHANGE
<br />90,000$ 91,800$ 55,080$ 234$ 233$ (1)$ -0.6%SCENARIO #5
<br />160,000$ 163,300$ 131,400$ 517$ 542$ 25$ 4.8%
<br />240,000$ 244,900$ 220,400$ 840$ 902$ 62$ 7.4%
<br />317,600$ 324,100$ 306,700$ 1,154$ 1,251$ 98$ 8.5%
<br />400,000$ 408,200$ 398,400$ 1,487$ 1,622$ 136$ 9.1%
<br />500,000$ 510,200$ 509,600$ 1,864$ 2,082$ 218$ 11.7%
<br />600,000$ 612,300$ 612,300$ 2,324$ 2,598$ 274$ 11.8%
<br />CITY TAX
<br />CITY TAX
<br /> % CHANGE $ CHANGE 2024 2025 2024 2025 $ CHANGE % CHANGE 2024 2025
<br />4.35% 299,456$ 317,600$ 324,100$ 1,154$ 1,188$ 35$ 3.0% 34.935% 36.285%
<br />6.67% 459,456$ 1,220$ 66$ 5.7%37.312%
<br />7.55% 519,456$ 1,232$ 78$ 6.8%37.698%
<br />9.87% 679,456$ 1,263$ 110$ 9.5%38.725%
<br />9.00% 619,629$ 1,251$ 98$ 8.5%38.341%
<br />CITY LEVY MEDIAN VALUE ANNUAL CITY TAX CITY TAX CITY TAX RATE
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