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2019 Proposed Tax Levy <br />Page 3 <br />Park Improvement Levy <br />This levy, first instituted in 2007, is used to finance capital improvements to the city's park system. The <br />original levy of $296,000 has been reduced by the amount needed to finance the abatement program <br />referred to above and fund park planning and recreational programming in the general operating fund. <br />The proposed park improvement levy for next year is $91,521. <br />Mill and Overlay Levy <br />This levy (diverted from the CIP levy in 2012) was designed to provide additional funds for the annual seal <br />coating program; however, this program will be replaced with a mill and overlay program. Funding for <br />crack filling and traffic striping will now be accounted for in the general fund street maintenance budget <br />and mill and overlay projects will be accounted for in the Street CIP Fund. Thus, this levy is being returned <br />to the CIP levy for 2019. <br />Capital Improvement Levy <br />This levy, first instituted in 2006, is used to defray a portion of the city's share of street reconstruction <br />projects. The proposed levy for 2019 is $604,566. When combined with state construction aid, these <br />funds will allow us to continue improving our network of streets without the need to issue additional <br />debt. <br />Storm Water Improvement Levy <br />This levy was discontinued in 2010 due to the Great Recession and the need to lower our overall tax levy; <br />however, since then the city has incurred costs in constructing water reuse projects and the fund balance <br />has dropped below what is needed to eventually maintain our system of drainage ponds. This levy, in the <br />amount of $271,111, was reinstated for 2018 and will remain at this level for 2019. <br />Certified Property Tax Levy <br />To recap, the total amount of property taxes to be certified to the county for inclusion in the truth -in - <br />taxation notices amounts to $7,083,393. This represents an increase of $494,091, the particulars of which <br />have been identified above. <br />Fiscal Disparities <br />Fiscal Disparities is a program designed by the state legislature to distribute a portion of growth in <br />commercial and industrial tax values to cities in the seven -county metropolitan area. Historically, the City <br />of Hugo has been a "winner" in that we receive more value from the pool than we contribute. <br />Washington County has certified the payable 2019 amount of $713,538, an increase of $70,250 from the <br />previous year. This amount serves to lower the total property tax dollars paid by residents of the city. <br />