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CITY OF HUGO
<br />TAX RATES
<br />Pay 2023 Pay 2024 Dollar Percent Pay 2025 Dollar Percent
<br />Final Final Change Change Proposed Change Change
<br />Special Levies
<br />Debt Service Levy - 2011 Imps & 2020 CIP 454,794$ 452,928$ (1,866)$ -0.41% 455,645$ 2,717$ 0.60%
<br />Tax Abatement Levy - Lions Park Abate Bonds 537,380$ 540,109$ 2,729$ 0.51% 542,210$ 2,101$ 0.39%
<br />992,174$ 993,037$ 863$ 0.09% 997,855$ 4,818$ 0.49%
<br />Subject to Levy Limits
<br />General Fund Levy 8,138,754$ 8,967,181$ 828,427$ 10.18% 9,140,036$ 172,855$ 1.93%
<br />Stormwater Utility Levy 278,788$ 278,788$ -$ 0.00% 278,788$ -$ 0.00%
<br />Firefighter's Relief Levy 27,158$ 27,869$ 711$ 2.62% 29,176$ 1,307$ 4.69%
<br />Equipment Purchasing Levy 300,000$ 300,000$ -$ 0.00% 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$ 1,660,000$ 500,000$ 43.10% 1,160,000$ (500,000)$ -30.12%
<br />9,996,700$ 11,325,838$ 1,329,138$ 13.30% 11,000,000$ (325,838)$ -2.88%
<br />Certified Property Tax Levy 10,988,874$ 12,318,875$ 1,330,001$ 12.10% 11,997,855$ (321,020)$ -2.61%
<br />Less: Fiscal Disparities (923,170)$ (887,514)$ 35,656$ -3.86% (1,015,758)$ (128,244)$ 14.45%
<br />Local Portion of Levy 10,065,704$ 11,431,361$ 1,365,657$ 13.57% 10,982,097$ (449,264)$ -3.93%
<br />Tax Rate Calculations:
<br />Local Portion of General Expense 9,156,882$ 10,509,867$ 10,068,722$
<br />Divided by Tax Capacity 27,634,266$ 31,260,835$ 13.12% 30,133,710$ -3.61%
<br />Urban Tax Capacity for General Expense 33.136% 33.620% 33.413%
<br />Less 10% for Rural -3.314% -3.362% -3.341%
<br />Local Portion of Debt Service Levy 908,822$ 921,494$ 913,375$
<br />Divided by Total Tax Capacity 28,090,842$ 31,754,074$ 13.04% 30,609,166$ -3.61%
<br />Tax Capacity for Debt Service 3.235% 2.902% 2.984%
<br />Total Urban Tax Rate 36.371% 36.522% 0.41% 36.397% -0.34%
<br />Total Rural Tax Rate 33.058% 33.160% 0.31% 33.056% -0.31%
<br />From County Assessment Report
<br />Median Est Market Value Single-Family 484,900$ 467,400$ -3.61%
<br />Median Est Market Value Townhome/Condo 280,400$ 268,400$ -4.28%
<br />From County Tax Department
<br />Median Taxable Value Prior to Exclusion Combined 409,950$ 389,400$ -5.01%
<br /> Market Value Exclusion (345)$ (11,504)$
<br /> Median Taxable Value After Exclusion 409,606$ 377,896$ -7.74%
<br /> Tax Capacity 4,096$ 3,779$
<br /> Net Tax 1,496$ 1,375$ -8.06%
<br /> Dollar Change (121)$
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