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Capital Fund Levies <br /> <br />2017 Capital Funds Levies are proposed to increase by a combined $152,210. The portion of this <br />increase related to the 2015 phase in plan to rebase liquor transfers is $77,210. The remaining $75,000 <br />increase is to provide funding needed to replace daily operating equipment as its useful life expires. <br /> <br /> <br />Levy <br /> <br />The total for all levies is $6,450,785. The levy increase without the benefit of the phased in of reduced <br />Liquor profits and Debt levy reduction would have been 12.74%. With these two elements of property <br />tax relief applied the overall levy increase will be limited to $399,973 or 6.61% percent. A summary of <br />the total levies is as follows: <br /> <br /> 2017 <br />General Fund Levy $3,573,493 <br />CIP Levy $ 233,200 <br />Street Improvement Levy $1,827,208 <br />Lease Revenue Bonds/Public Facilities $ 361,207 <br />HRA Levy $ 157,800 <br />Tax Abatement (Central/Emerald Park) $ 224,877 <br />Building Improvement Levy $ 73,000 <br /> Total $6,450,785 <br /> <br /> <br /> <br />In 2016, the median valuation of the single family home within the City equals $260,000 (Hennepin <br />County portion). The median valuation is the value at which 50% of the homes are valued lower and <br />50% are valued higher. The General Fund Levy of $3,573,493 supports the 2017 cost of providing City <br />services. Therefore an owner of median valued home in the Village will pay $1,670.93 in Property Taxes <br />for City services. <br /> <br />A breakdown of the costs includes: $948.84 for Police, Fire, Public Works and Park maintenance; <br />$485.17 for Streets related debt service; $95.91 for the Fire and Public Works buildings related debt <br />service; $59.71 for parks, sidewalks, flood control / drainage and intersection improvements related <br />debt service; and $81.30 for the Capital Equipment and Building Improvements. <br /> <br />Capital Equipment Purchases - Appropriation = $539,312 <br /> <br />The proposed 2017 Capital Equipment Budget totals $539,312. The 2017 revenue for funding capital <br />equipment will be provided by the Capital Improvement Levy, MSA Revolving Funds and the sale of <br />existing equipment. A review of the 2017 revenue and expenditures is as follows: <br />5