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Home My WebLink About3.A. 2007/2008 Tax Levy & Budget Presentation ~--- - - --- ----- -- -- 1 I - - I ~ I I I I SHAKOPEE I . I - CITY OF SHAKOPEE 2008 Property Taxes and Budget Not Values I I j _.-- ------ ---- - - - - I SHAKOPEE I - I Video i I How property taxes are calculated i ! How Shakopee compares I i I I I I , I I Taxation trends 2008 Budget Value received 2 Tax Notice -- -- ---- - ---- -- -- - - - SHAKOPEE Calculation of I Property Tax I I I I o Assessor - Est. Market Value I o State Legislature - Tax Capacity o City Council - Tax levy dollars o County - Spreads Levy o County Treasurer - Collects Taxes . . - _________n__ SHAKOPEE Estimated Average Market Value Assessor 2007 2008 EMV $242,500 $259,800 LMV $239,200 $257,500 -- I Limited Market ; SHAKOPEE Value Trend I I I 350 I 000 300,000 - 250,000 200,000 ~ 150,000 100,000 - Trv1V 50,000 - ~~~ ~~0:> ~~~ ~~<o ~~ro ~~ ~~'b I I I 250,000 200,000 150,000 I :; 100,000 ! 50,000 I - ! 2003 2004 2005 2006 2007 2008 __n__ ---------- SHAKOPEE Homestead Tax Capacity Calculation Legislature 2007 239,200 X 1.00/0 = 2,392 2008 , I 257,500 X 1.00/0 = 2,575 I I I I SHAKOPEE Tax Capacity Pay '07 Pay '08 Gross Tax Capacity 41,537,000 41,600,000 Net Tax Capacity 36,078,941 40,271,139 Net of TIF & Fiscal Disp. CI % of Tax Capacity 34OA> 340/0 Homestead o~ of Tax _ 56OA> 560/0 Capacity SHAKOPEE Tax Capacity Rate Net Levy / Total Tax Capacity = Tax Rate 2007 11,523,196 / 36,078,941 = 31.939 2008 12,863,050 / 43,987,000 = 31.828 ---~~----_.-.- SHAKOPEE Individual Tax Amount Tax Capacity X Tax Rate 2007 2,392 X.31939 = $764 2008 2,575 X.31828 = $819 Tax Capacity Rate SHAKOPEE Parts Residential (Est. ) Pay '07 Pay '08 TCR X Tax Capacity City .31828 x 2575 $819 City .31939 x 2392 $764 Fire Station 17 .0000655 x 257500 Fire Station 17 .0000728 x 239200 State Market Value (56) (43) Cred it * Total Tax $725 $793 I i ------ -- -- -- - SHAKOPEE I Res/CI Tax Comparison I i Residential Comm./lnd. I i Pay '07 Pay '07 TCR X Tax Capacity: I City .31939 x 2392 $764 City .31939 x 4034 $1,288 I , I I Market Value Credit (56) Fire Station .0000969 x 208652 17 17 I I Total $725 $1 ,305 I I I , I ---- --------- - -- -j SHAKOPEE City Share of 2007 Tax Dollar School 28% Other 5% I I I City I 33% I I I County I 34% I , ~ I SHAKOPEE I I , I I ! Tax Capacity Rates Other I I Taxing Jurisdictions I I Proposed 2007 2008 o City 31.961 31.828 o School 28.280 27.165 o County 33.140 32.617 ._---------~--------- SHAKOPEE Proposed Tax Rates 2008 2007 2008 Belle Plaine 54.929 55.132 New Prague 50.934 53.537 Jordan 47.287 53.263 Savage 50.155 48.369 I Elko New Market 35.687 37.141 Shako pee 31.939 31.828 [ Prior Lake 28.435 28.053 -------- ------- I i ! SHAKOPEE Proposed Tax Rates , I Belle Plaine New Prague Jordan I i Savage Elko New i Market ! Shakopee Prior Lake I 0.000 10.000 20.000 30.000 40.000 50.000 60.000 70.000 I I ----- ------ ----- - --- - - 800Z L.OOZ 900Z SOOZ vOOZ 0 , OOOOO~ I - )( )( OOOOOZ ~ OOOOOE OOOOOv 000009 000009 - OOOOOL. Sla:>Jed lenUap!Sa~ aldwes anlB^ l8)tJell\l uI86uB48 titidO>IVHS SHAKOPEE T ax Rate Trend 60 - 55 - 50 - 45 - 40 - ~ 35 - - 30 - 25 - 20 - 15 - 10 I 2003 2004 2005 2006 2007 2008 Year ,-_ ~____ __n ___ __ _ -- ---- -- I I I \ SHAKOPEE I Tax Levy Dollars I 2007 Tax Levy 2008 Tax Levy 0/0 Change I General Levy $11,591,697 $13,042,083 16.60/0 [ I I EDA - General 60,000 60,000 (0.0010 ) I Debt Service 827,303 898,172 8.70/0 Fire Referendum 246.449 251,752 2.2% T ota I $12,725,449 $14,252,007 12.20/0 -------- ------- ----- -- ---- --- SHAKOPEE I i I I I I -, I City Nondebt I Tax Levy History i I I I I i Year Lev'i Chan~ I i 2003/04 8/005/654 7 . 70/0 i 2004/05 9/047/169 13 . 00/0 , ! I 2005/06 9/998/811 1 0 . 50/0 I I I 2006/07 11/651/697 16 . 50/0 2007 /08 13/102/083 12 .40/0 SHAKOPEE Funds I I I General Fund - main operating fund Special Revenue - EDA, Transit, Telecomm & Recreation Debt Service - special assessment & taxes Cgpital Projects - roads, buildings, parks Utility Funds - revenue from user fees Internal Service - function to reduce peaks and valleys in general levy. Equipment Fund Building Fund SHAKOPEE Operating Budget Process starts in May/June Council has public meetings in August/September to set preliminary tax levy and budget Budget work continues in October and November Public hearing in December and adoption of tax levy and budget SHAKOPEE Use Of 2007 City Tax Dollar Fire Ref. Debt 2% Debt Service 6% I i I I I I I I I I Operations 92% ! I I I ---- --- -- -- 4 ----- ---- -- I I I SHAKOPEE City' of Shakopee 2008 General Fund I I Budget I I I I ----- --- ---- -- ---- ___ ____ ______ ___n__ ______ ____ SHAKOPEE General Fund ] I Revenue I I I I I I $14,000,000 ! $12,000,000 o TAXES $10,000,000 . LICENSES AND PERMrTS $8,000,000 o INTERGOVERNMENTAL $6,000,000 o CHARGES FOR SERVICE $4,000,000 . FINES & FORFEITS ~ MISCELLA NEOUS $2,000,000 $- 2004 2005 2006 2007 2008 I I I I I SHAKOPEE General Fund Budget Notes Revenue up 10/0 Expenditures up 30/0 Funds on hand ($892,000) Add I o 2 Police positions 1 I o FT Fire Chief Less o .4 Administration o 2 Engineering o .5 Recreation 1----------- ----------,-------~--.- ----~- ----------------- --- - CITY OF SHAKOPEE 2008 GENERAL FUND BUDGET -SUMMARY I i I j 2007 2008 I I Revenue Budget Estimate Taxes $11,562,500 $12,981,410 Licenses and Permits 1,504,700 820,000 Intergovernmental 261,960 344,000 Charges for Service 1,558,800 607,650 I I Fines and Forfeits 280,000 430,000 I i i Miscellaneous 283,500 405,000 I Total Revenue 15.451.460 15,588,060 Expenditures I General Government 3,380,340 3,517,150 i Public Safety 8,531,480 8,598,110 I Public Works 2,739,450 2,770,910 Culture/Recreation 1,743,550 1,982,290 Unallocated 150,000 181 ,000 Total Expenditures 16.544,820 17,049.460 Excess (deficiency) Revenues over Expenditures (1,093,360) (1,461,400) Other Sources 1,609,730 1,740,000 Other Uses (1,178,770) (1,171,010) Excess (deficiency) Revenues & Other Sources Over Expenditures & Other Uses .$ (662.400) ~(892.41 0) ~,~------- ------ -- General Fund SHAKOPEE Budget 2007 Revenues Intergov't Fees Misc. SPUC 20k 9% 20k 90k Fines Licenses & 20/0 Perm its I I I 90k I i Taxes 670/0 SHAKOPEE General Fund Budget Revenues 14000000 12000000 10000000 8000000 Inter-Govt. 6000000 Licenses & M iscellanous I 4000000 I I Fees Fines 2000000 0 I · 2007 . 2008 I ---------- -- ---------- - - - - I I I I SHAKOPEE I City General Fund Budget I Dollar Use 2007 I I I I Police, Fire, Insp. 480/0 Eng., Street, Shop 16%) Admin., Clerk, Finance, Legal, Planning, Park Maint, General Unallocated Library Gov't 1010 16010 Buildings 190/0 I I I I I I I General Fund I SHAKOPEE I Expenditures I I I I 9000000 I I 8000000 I 7000000 I I 6000000 I I 5000000 I Public Works I I 4000000 I I Parks/Ree. I I 3000000 I I 2000000 Unalloeated 1000000 I I I 0 I I I I · 2007 . 2008 I I I I I I Cost of Services Average I I Value Home I i .------ -- - -, L- - - ._~ I $793 Per Year I ! I $66 Per Month i I I I I I 50-80 Cable I I I I I I 45/ea I I Sports ticket I I - I 100 I Dining out I . 40 I I Cell phone 45 Internet --~---------- --------- -------~-- - -- I Public Safety Services I 1 I r- - - -- ----, L-____---1 I I 24/7 Police Services I I I I 49 Licensed Officers I 24/7 Fire Services I 54 Authorized Firefighters I I 2 Full time employees I i I I I Building Inspection Services 6 Inspectors I I I I I I I I -- - - -- --- - - I Public Works Services I I I I ;--- - --- -, I L __ ____~._l I I Engineering Division I I I Public Infrastructure - roads/utilities I I 8 Employees I I i I I Street Division ; I I I I Snow Plowing i I I I Street/alley/parking lot Maintenance I I Sewer & Storm drainage I 11 Employees (+3) I I I Shop Division I I Equipment set up and repair I 4 Employees . I I CuI ture/Recreation ; i I I I I I I f------- I I ... ______ ....J I Park Maintenance Division I I I mow 350 acres per week I maintain 28 parks & public space I 9 Employees I Recreation Programs/development Community Center open 100 hrs/week 130+ Programs/activities offered 8.5 FT Employees I 130 PT Employees I Natural Resources I I I Library "~--------------~ - __ n_ _ I I I I General Government I I I I I I I I I I I ;- ------ - ., I - - __ --I I I I City Council I Administration I I I City Clerk I Finance , . I Legal - Prosecutions/civil I I I Planning/Community Development I I - I Information Technology Government Building - City Hall I I I Productivity Measures for General Fund Operations I I ,----- -- -, I I _ _ _ _ __ - ---I I I I I 2005 2006 2007 2008 I I Population * 30,595 31,722 32,300 32,800 I Households * 11,219 11,691 11,900 12,090 I I I I FTE Positions** 113 123 127 127 I [ I Firefighters 50 54 54 55 I I I I I I Pop. per Employee 271 258 254 258 I I I \ I I I I I Households per FT 99 95 94 95 I I I I I Employee I I I t Cost $/population I I 400 466 512 520 I I I Cost $/household 1,093 1,265 1,390 1,410 I . I * Estimates ** Assumes all budgeted positions are filled and excludes Recreation employees - paid from other funds. I I I I I I I