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MEMORANDUM <br />DATE: December 11, 2012 <br />TO: Mark Casey, City Manager <br />FROM: Shelly Rueckert, Finance Director <br />ITEM: TAX RATE CALCULATION AND IMPACT <br />For collectible 2013 taxes, the proposed general fund levy totals $3,123,343. The road improvement levy <br />totals $1,577,184; the lease revenue bonds levy for the Public Works and Fire buildings is $379,179; the <br />tax abatement levy is $146,480 (Central /Emerald Park Improvements); and the Capital Improvement <br />levy of $50,000 for a Local Levy of $5,276,204. The 2013 HRA Levy proposed is $150,585 resulting in a <br />combined increase of 3.9% over prior years' levies. <br />The 2013 tax rate of 73.3% is based on the amount of St. Anthony's Total Local Levy $5,276,204, less the <br />City's distribution from the Fiscal Disparities pool ($689,453) and then dividing the total local levy by <br />current valuation estimates from Hennepin and Ramsey Counties ($6,258,544). <br />Combining the factors that contribute to the amount of property taxes paid (the general operating fund <br />levy; the road improvement levy; the public facilities levy; the tax abatement levy; and the PERA levy) <br />with a decline in the tax base the 2013 tax rate increased. <br />The increases in the 2013 levies totaling $203,700 include: the general operating levy increase of $78,177; <br />the road improvement levy increase of $76,429; the public facilities levy decrease of $30,576; the tax <br />abatement levy decrease of $2,915; the elimination of the PERA levy $7,500; the establishment of the <br />CIP levy for $50,000 and the HRA Levy increase of $40,085. <br />In early November, Property Tax Statements were mailed to St. Anthony residents. A percentage <br />breakdown of the "decrease or increase" in 2013 property taxes for St. Anthony residential properties is <br />as follows: <br />1) 5.38% will experience a 4.9% decrease to a 20% decrease. <br />2) 55.8% will experience a 0% increase to 4.9% decrease.. <br />3) 34.5% will experience an increase of 0% to 4.9 %. <br />4) 4.2% will experience an increase between 5% and 9.9 %. <br />5) .12% will experience an increase greater than 10.0 %. <br />0 <br />