amp General Fund Budget Proposed 2017 Tax Levy Increase of 63349 from 2016 tax levy 57 All nonenterprise fund debt service is covered Tax rate would reduce for third straight year 1433 ID: 532063
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Slide1
2017 Tax Levy Payable
&General Fund BudgetSlide2
Proposed 2017 Tax Levy
Increase of $63,349 from 2016 tax levy. (+5.7%)
All non-enterprise fund debt service is covered.
Tax rate would reduce for third straight year (-1.433%).
Local Government Aid set to increase by $718.
Levy funds to make up 57.3% of General Fund Revenue.Slide3
Carver County 2017 Proposed Tax Rate Comparison
Based on 5.7% Levy increase, Cologne’s 2017 tax rate would be 69.529%.Slide4
How Tax Rate Affects Taxes Paid
City tax amount payable is calculated by taking the taxable value times the class rate (.01), multiplied by the tax rate (70.962% in 2016.)
$109,000*.01=$1,090
$1,090*70.962%=$773.49Slide5
Tax Rate cont.Slide6
Tax Rates 2013-2017Slide7
2017 General Fund
Notable Expenditures:Replacement of 1997 pickup truckContinuation of milling/overlay of roads and sealing trailsIncrease in Fire Department Relief Association pension to $1,500 per year of serviceSlide8
Budget vs. Expenditure & LevySlide9
Revenue/Expenditure 2017Slide10
2017 General Fund
Notable Revenue SourcesExpect 15 new home builds.LGA $201,171, increase of $718.Small Cities Assistance Fund dollars not in the revenue budget ($23,955 in 2015)Slide11
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