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<br /> <br />Capital Fund Levies <br /> <br />The 2019 Capital Improvement Program (CIP) and the 2019 Building Improvement Levies are <br />proposed to increase by $25,000 and $5,000 respectively. CIP and Building Improvement levy <br />increases agree to Long term capital plan, to maintain replacement schedule. <br /> <br />Levy <br /> <br />The total for all levies is $7,311,453. The levy increase without the benefit of reduced Debt levy the <br />levy increase would have been 13.12%. With the property tax relief applied the overall levy increase <br />will be limited to $461,442 or 6.74% percent. A summary of the total levies is as follows: <br /> <br /> 2019 <br />General Fund Levy $4,324,113 <br />CIP Levy $ 258,200 <br />Street Improvement Levy $1,914,886 <br />Lease Revenue Bonds/Public Facilities $ 343,347 <br />HRA Levy $ 170,254 <br />Tax Abatement $ 222,653 <br />Building Improvement Levy $ 78,000 <br /> Total $7,311,453 <br /> <br /> <br /> <br />In 2019, the median valuation of the single family home within the City equals $292,000 (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 $4,324,113 supports the 2019 cost of providing City <br />services. Therefore an owner of median valued home in the Village will pay $1,166 in Property Taxes <br />for City services. <br /> <br />A breakdown of the cost of City services is: $458 for Police, $246 for Fire, $149 for Public Works, $69 <br />for Parks, $106 for Administration, $53 for Finance and $85 for other various costs. Remaining City <br />taxes are $516 for Streets related debt service; $92 for the Fire and Public Works buildings related debt <br />service; $60 for parks, sidewalks and intersection improvements related debt service; and $91 for the <br />Capital Equipment and Building Improvements. Resulting in a total City tax of $1,925 for a median <br />valued home. <br /> <br /> <br />Capital Equipment Purchases - Appropriation = $1,042,485 <br /> <br />The proposed 2018 Capital Equipment Budget totals $1,042,485. The 2018 revenue for funding capital <br />equipment will be provided by the Capital Improvement Levy, MSA Revolving Funds, sales of existing <br />5