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Levy The total for all levies is $6,050,812. The levy increase without the benefit of the phased in of reduced Liquor profits and Debt levy reduction would have been 6.98%. With these two elements of property tax relief applied the overall levy increase will be limited to $219,750 or 3.76% percent. A summary of the total levies is as follows: 2015 General Fund Levy $3,385,370 CIP Levy $ 80,990 Street Improvement Levy $1,828,848 Lease Revenue Bonds/Public Facilities $ 387,322 HRA Levy $ 140,170 Tax Abatement (Central/Emerald Park) $ 155,112 Building Improvement Levy $ 73,000 Total $6,050,812 In 2016, the median valuation of the single family home within the City equals $255,000 (Hennepin County portion). The median valuation is the value at which 50% of the homes are valued lower and 50% are valued higher. The General Fund Levy of $3,385,370 supports the 2016 cost of providing City services. Therefore an owner of median valued home in the Village will pay $1,575.19 in Property Taxes for City services. A breakdown of the costs includes: $902.20 for Police, Fire, Public Works and Park maintenance; $487.39 for Streets related debt service; $103.22 for the Fire and Public Works buildings related debt service; $41.34 for the Central and Emerald park improvements related debt service; and $41.01 for the Capital Equipment and Building Improvements. Capital Equipment Purchases - Appropriation = $308,264 The proposed 2016 Capital Equipment Budget totals $308,264. Traditionally, revenue for funding capital equipment has come from various sources including: transfers from the General Fund and Utility Funds, profits from Liquor Operations, MSA Revolving Funds, interest earnings, trade/sale of existing equipment, and the Capital Improvement Levy. A review of the 2016 revenue and expenditures is as follows: 5