City of Hugo Tax Rates
<br />Pay 2022 Pay 2023 Dollar Percent Pay 2024 Dollar Percent
<br />Final Final Change Change Proposed Change Change
<br />Special Levies
<br />Debt Service Levy - 2011 Imps & 2020 CIP 450,744$ 454,794$ 4,050$ 0.90% 452,928$ (1,866)$ -0.41%
<br />Tax Abatement Levy - Lions Park Abate Bonds 538,721$ 537,380$ (1,341)$ -0.25% 540,109$ 2,729$ 0.51%
<br />989,465$ 992,174$ 2,709$ 0.27% 993,037$ 863$ 0.09%
<br />Subject to Levy Limits
<br />General Fund Levy 6,808,478$ 8,138,754$ 1,330,276$ 19.54% 8,860,306$ 721,552$ 8.87%
<br />Stormwater Utility Levy 278,788$ 278,788$ -$ 0.00% 278,788$ -$ 0.00%
<br />Firefighter's Relief Levy 21,444$ 27,158$ 5,714$ 26.65% 27,869$ 711$ 2.62%
<br />Equipment Purchasing Levy 240,000$ 300,000$ 60,000$ 25.00% 300,000$ -$ 0.00%
<br />Park Improvement Levy 92,000$ 92,000$ -$ 0.00% 92,000$ -$ 0.00%
<br />Capital Improvement Levy 1,160,000$ 1,160,000$ -$ 0.00% 1,760,000$ 600,000$ 51.72%
<br />8,600,710$ 9,996,700$ 1,395,990$ 16.23% 11,318,963$ 1,322,263$ 13.23%
<br />Certified Property Tax Levy 9,590,175$ 10,988,874$ 1,398,699$ 14.58% 12,312,000$ 1,323,126$ 12.04%
<br />Less: Fiscal Disparities (924,336)$ (923,170)$ 1,166$ -0.13% (887,514)$ 35,656$ -3.86%
<br />Local Portion of Levy 8,665,839$ 10,065,704$ 1,399,865$ 16.15% 11,424,486$ 1,358,782$ 13.50%
<br />Tax Rate Calculations:
<br />Local Portion of General Expense 7,771,742$ 9,156,882$ 10,503,032$
<br />Divided by Tax Capacity 21,954,837$ 27,634,266$ 25.87% 31,369,714$ 13.52%
<br />Urban Tax Capacity for General Expense 35.399% 33.136% 33.481%
<br />Less 10% for Rural -3.540% -3.314% -3.348%
<br />Local Portion of Debt Service Levy 894,097$ 908,822$ 921,454$
<br />Divided by Total Tax Capacity 22,329,989$ 28,090,842$ 25.80% 31,886,972$ 13.51%
<br />Tax Capacity for Debt Service 4.004% 3.235% 2.890%
<br />Total Urban Tax Rate 39.403% 36.371% -7.69% 36.371% 0.00%
<br />Total Rural Tax Rate 35.863% 33.058% -7.82% 33.023% -0.10%
<br />From County Assessment Report
<br />Median Est Market Value Single-Family 450,200$ 484,900$ 7.71%
<br />Median Est Market Value Townhome/Condo 254,800$ 280,400$ 10.05%
<br />From County Tax Department
<br />Median Taxable Value Prior to Exclusion Combined 383,400$ 408,700$ 6.60%
<br /> Market Value Exclusion (2,734)$ (457)$
<br /> Median Taxable Value After Exclusion 380,666$ 408,243$ 7.24%
<br /> Tax Capacity 3,807$ 4,082$
<br /> Net Tax 1,385$ 1,485$ 7.24%
<br /> Dollar Change 100$
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