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City of Hugo Tax Rates
<br />Pay 2021 Pay 2022 Dollar Percent Pay 2023 Dollar Percent
<br />Final Final Change Change Proposed Change Change
<br />Special Levies
<br />Debt Service Levy - 2011 Imps & 2020 CIP 490,397$ 450,744$ (39,653)$ -8.09% 454,794$ 4,050$ 0.90%
<br />Tax Abatement Levy - Lions Park Abate Bonds -$ 538,721$ 538,721$ 100.00% 537,380$ (1,341)$ -0.25%
<br />490,397$ 989,465$ 499,068$ 101.77% 992,174$ 2,709$ 0.27%
<br />Subject to Levy Limits
<br />General Fund Levy 6,080,491$ 6,808,478$ 727,987$ 11.97% 8,138,754$ 1,330,276$ 19.54%
<br />Stormwater Utility Levy 278,788$ 278,788$ -$ 0.00% 278,788$ -$ 0.00%
<br />Firefighter's Relief Levy 17,250$ 21,444$ 4,194$ 24.31% 27,158$ 5,714$ 26.65%
<br />Equipment Purchasing Levy 240,000$ 240,000$ -$ 0.00% 300,000$ 60,000$ 25.00%
<br />Park Improvement Levy 92,000$ 92,000$ -$ 0.00% 92,000$ -$ 0.00%
<br />Future PW Facility Bonds -$ -$ -$ 0.00% -$ -$ 0.00%
<br />Future Lions Park Abatement Bonds 557,581$ -$ (557,581)$ -100.00% -$ -$ 0.00%
<br />Capital Improvement Levy 1,160,000$ 1,160,000$ -$ 0.00% 1,160,000$ -$ 0.00%
<br />8,426,110$ 8,600,710$ 174,600$ 2.07% 9,996,700$ 1,395,990$ 16.23%
<br />Certified Property Tax Levy 8,916,507$ 9,590,175$ 673,668$ 7.56% 10,988,874$ 1,398,699$ 14.58%
<br />Less: Fiscal Disparities (852,056)$ (924,336)$ (72,280)$ 8.48% (923,170)$ 1,166$ -0.13%
<br />Local Portion of Levy 8,064,451$ 8,665,839$ 601,388$ 7.46% 10,065,704$ 1,399,865$ 16.15%
<br />Tax Rate Calculations:
<br />Local Portion of General Expense 7,620,916$ 7,771,742$ 9,156,882$
<br />Divided by Tax Capacity 20,503,453$ 21,954,837$ 7.08% 27,708,395$ 26.21%
<br />Urban Tax Capacity for General Expense 37.169% 35.399% 33.047%
<br />Less 10% for Rural -3.717% -3.540% -3.305%
<br />Local Portion of Debt Service Levy 443,535$ 894,097$ 908,822$
<br />Divided by Total Tax Capacity 20,875,304$ 22,329,989$ 6.97% 28,165,280$ 26.13%
<br />Tax Capacity for Debt Service 2.125% 4.004% 3.227%
<br />Total Urban Tax Rate 39.294% 39.403% 0.28% 36.274% -7.94%
<br />Total Rural Tax Rate 35.577% 35.863% 0.80% 32.969% -8.07%
<br />From County Assessment Report
<br />Median Est Market Value Single-Family 372,100$ 450,200$ 20.99%
<br />Median Est Market Value Townhome/Condo 212,000$ 254,800$ 20.19%
<br />From County Tax Department
<br />Median Taxable Value Prior to Exclusion Combined 315,600$ 379,300$ 20.18%
<br /> Market Value Exclusion (8,836)$ (3,103)$
<br /> Median Taxable Value After Exclusion 306,764$ 376,197$ 22.63%
<br /> Tax Capacity 3,068$ 3,762$
<br /> Net Tax 1,209$ 1,365$ 12.90%
<br /> Dollar Change 156$
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