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CITY OF HUGO
<br />TAX RATES
<br />Pay 2024 Pay 2025 Dollar Percent Pay 2026 Dollar Percent
<br />Final Final Change Change Proposed Change Change
<br />Special Levies
<br />Debt Service Levy - 2011 Imps & 2020 CIP 452,928$ 455,645$ 2,717$ 0.60% 452,324$ (3,321)$ -0.73%
<br />Tax Abatement Levy - Lions Park Abate Bonds 540,109$ 542,210$ 2,101$ 0.39% 538,429$ (3,781)$ -0.70%
<br />993,037$ 997,855$ 4,818$ 0.49% 990,753$ (7,102)$ -0.71%
<br />Subject to Levy Limits
<br />General Fund Levy 8,967,181$ 9,140,036$ 172,855$ 1.93% 9,862,731$ 722,695$ 7.91%
<br />Stormwater Utility Levy 278,788$ 278,788$ -$ 0.00% 278,788$ -$ 0.00%
<br />Firefighter's Relief Levy 27,869$ 29,176$ 1,307$ 4.69% 32,728$ 3,552$ 12.17%
<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 1,660,000$ 2,010,000$ 350,000$ 21.08% 2,010,000$ -$ 0.00%
<br />11,325,838$ 11,850,000$ 524,162$ 4.63% 12,576,247$ 726,247$ 6.13%
<br />Certified Property Tax Levy 12,318,875$ 12,847,855$ 528,980$ 4.29% 13,567,000$ 719,145$ 5.60%
<br />Less: Fiscal Disparities (887,514)$ (1,015,758)$ (128,244)$ 14.45% (1,124,330)$ (108,572)$ 10.69%
<br />Local Portion of Levy 11,431,361$ 11,832,097$ 400,736$ 3.51% 12,442,670$ 610,573$ 5.16%
<br />Tax Rate Calculations:
<br />Local Portion of General Expense 10,509,867$ 10,913,133$ 11,534,023$
<br />Divided by Tax Capacity 31,260,835$ 30,054,854$ -3.86% 31,781,183$ 5.74%
<br />Urban Tax Capacity for General Expense 33.620% 36.311% 36.292%
<br />Less 10% for Rural -3.362% -3.631% -3.629%
<br />Local Portion of Debt Service Levy 921,494$ 918,964$ 908,647$
<br />Divided by Total Tax Capacity 31,754,074$ 30,532,223$ -3.85% 32,280,263$ 5.73%
<br />Tax Capacity for Debt Service 2.902% 3.010% 2.815%
<br />Total Urban Tax Rate 36.522% 39.321% 39.107%
<br />Total Rural Tax Rate 33.160% 35.689% 35.478%
<br />From County Assessment Report
<br />Median Est Market Value Single-Family 467,400$ 478,400$ 2.35%
<br />Median Est Market Value Townhome/Condo 268,400$ 274,400$ 2.24%
<br />From County Tax Department
<br />Median Taxable Value Prior to Exclusion Combined 397,000$ 408,700$ 2.95%
<br /> Market Value Exclusion (10,820)$ (9,767)$
<br /> Median Taxable Value After Exclusion 386,180$ 398,933$ 3.30%
<br /> Tax Capacity 3,862$ 3,989$
<br /> Net Tax 1,518$ 1,560$ 2.74%
<br /> Dollar Change 42$
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