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Home My WebLink AboutResolution 4925 Establishing and Affixing the Number of Mills to be Charged Against the Assessed Valuation of all Taxable Property for FY19 COMMISSION RESOLUTION NO. 4925 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF BOZEMAN, MONTANA ESTABLISHING AND AFFIXING THE NUMBER OF MILLS TO BE CHARGED AGAINST THE ASSESSED VALUATION OF ALL TAXABLE PROPERTY SITUATED WITHIN THE CORPORATE JURISDICTIONAL BOUNDARIES OF THE CITY FOR FISCAL YEAR 2018-2019 (FY19). WHEREAS, in accordance with 15-10-203 MCA, after due and proper legal notice, at a regular session of the City Commission on September 10,2018,the public hearing on the proposed change of ad-valorem tax revenue was held; and WHEREAS, the Montana Department of Revenue issued to the City a 2018 Certified Taxable Valuation received on August 13, 2018; and WHEREAS, in accordance with Montana Code Annotated, a resolution must be adopted by the City Commission in order to determine the amount of the City or Town taxes to be levied and assessed on the taxable property situated within the City for the current fiscal year; and WHEREAS,the City Clerk must certify to the County Clerk a copy of such resolution. NOW, THEREFORE, BE IT RESOLVED by the City Commission of the City of Bozeman,Montana as follows: Section 1 That for the purpose of providing and maintaining basic City services the City Commission of the City of Bozeman, Montana does hereby affix 139.69 mills to be levied for the All Purpose Page 1 of 5 Resolution 4925,Establishing and Affixing the Number of Mills for FY19 General Fund for all salaries, operations, and capital expenditures for general government purposes as provided by Sections 7-6-4451 and 15-10-420 MCA. Section 2 That the City Commission of the City of Bozeman, Montana does hereby affix a 3.00 mill levy from the City's maximum mill levy allowed under Sections 7-6-4451 and 15-10-420 MCA for the City's Community Housing Fund to be used for affordable/workforce housing purposes within the City. Section 3 That the City Commission of the City of Bozeman, Montana does hereby establish and affix a mill levy in the amount of 25.44 mills to provide for the total City payment of premiums for Health Medical Insurance for City employees in accordance with Title 2 Chapter 18 Part 7 MCA, Section 2 of Chapter 359 Laws 1975, Section 7-32-4117 MCA, and Section 7-3-4130 MCA. Section 4 That the City Commission of the City of Bozeman, Montana does hereby establish and affix a mill levy in the amount of 2.00 mills to provide funds for the City Planning Activity in accordance with Section 76-1-406 MCA. Section 5 That the City Commission of the City of Bozeman,Montana does hereby establish and affix a mill levy in the amount of 1.00 mills to provide funds for special transportation services for senior citizens and persons with disabilities in accordance with Section 7-14-1111 MCA. Page 2 of 5 Resolution 4925,Establishing and Affixing the Number of Mills for FY19 Section 6 That the City Commission of the City of Bozeman, Montana does hereby affix a 0.71 mill levy from the City's maximum mill levy allowed under Sections 7-6-4451 and 15-10-420 MCA for the general purpose of the stormwater system, to include the stormwater improvement program for corrective measures at the Bozeman Story Mill Landfill, served by the stormwater system, with the funds appropriated,to pay a portion of the costs, in accordance with 7-7-4424 (b) MCA. Section 7 That the City Commission of the City of Bozeman,Montana does hereby establish and affix a mill levy in the amount of 2.64 mills to provide for principal and interest payments on outstanding Library General Obligation Bonds in accordance with Section 7-7-4265 MCA. Section 8 That the City Commission of the City of Bozeman, Montana does hereby establish and affix a mill levy in the amount of 10.38 mills to provide for principal and interest payments on outstanding Trails, Open Space and Parks (TOP) General Obligation Bonds in accordance with Section 7-7-4265 MCA. Section 9 That for the purpose of providing and maintaining basic City services the City Commission of the City of Bozeman, Montana does hereby affix 4.00 mills to be levied for the Fire Department Capital &Equipment Replacement for general government purposes as provided by Section 7-6-4451 MCA. Section 10 That the City Commission of the City of Bozeman, Montana does hereby affix a 2.38 mill levy from the City's maximum mill levy allowed under Sections 7-6-4451 and 15-10-420 Page 3 of 5 Resolution 4925,Establishing and dying the Number of Uills for FI'19 MCA for the costs of Landfill Post-closure activities at the Story Mill Landfill. PASSED,ADOPTED,AND APPROVED by the City Commission of the City of Bozeman, Montana at a regular session thereof held on the 10th day of tember, 2018. RUS Mayor ATTEST: 7 B 41 RO IN CROUGH " ' 9 City Clerk v. '-'''__ • o• - 7 7 -_ 1�1 ��•� 1883 ��•5��,• APPROVED AS TO FORM: '9�'I1V Co,r1oS� . GRE LLIVAN City Attorney Page 4 of 5 Resolution 4925,Establishing and Affixing the Number of lfills for FY19 CITY OF BOZEMAN Mill Levy Fiscal Year 2018-2019 (FY19) Levy Purpose Number of Mills All Purpose Levy 139.69 Workforce/Community Housing 3.00 Permissive Medical Insurance 25.44 Planning 2.00 Senior Transportation 1.00 Trails, Open Space, & Parks GO Bonds 10.38 Library GO Bonds 2.64 Stormwater- Story Mill Landfill Project 0.71 Fire Capital & Equipment 4.00 Landfill Post-closure Activities 2.38 TOTAL LEVY 191.24 mills Page 5 of 5 FY19 Mill Levies and Mill Values MILL LEVIES& MILL VALUES FISCAL YEAR FY14 FY15 FY16 FY17 FY 18 FY19 MILL VALUE(net of TIFD's) $ 85,637 $ 87,894 $ 86,564 $ 89,325 $ 101,195 $ 104,321 PERCENTAGE CHANGE 2.9% 2.6% -1.5% 3.2% 13.3% 3.1% GENERAL FUND: All-Purpose 134.76 144.77 155.78 148.21 134.39 139.69 SPECIAL REVENUE: City Planning 2.00 2.00 2.00 2.00 2.00 2.00 Health/Med Insurance 22.57 23.18 27.11 26.40 24.48 25.44 Fire Capital&Equipment 4.00 4.00 4.00 4.00 4.00 4.00 Transfer to Stormwater-Landfill Project 0.00 1.57 1.62 1.56 1.38 0.71 Transfer to Landfill Closure-Monitring 0.00 0.00 0.00 4.00 3.67 2.38 Senior Transportation 1.00 1.00 1.00 1.00 1.00 1.00 Workforce Housing 0.50 1.00 3.00 3.00 3.00 3.00 TOTAL SPECIAL REVENUE 30.07 32.75 38.72 41.96 39.53 38.53 DEBT SERVICE: Park&Trail G.O.Bonds 0.00 8.13 12.49 12.06 10.68 10.38 Library G.O.Bonds 3.06 3.11 3.16 3.07 2.73 2.64 Transportation G.O.Bonds 5.19 0.00 0.00 0.00 0.00 - TOTAL DEBT SERVICE 8.25 11.24 15.65 15.13 13.41 13.02 Total Levied 173.08 188.76 210.16 205.30 187.33 191.24 Percentage Change in Mills 3.8% 9.4% 12.4% -2.6% -8.6% 1.9% Property Taxes Levied $ 14,821,724 $ 16,590,871 $ 18,191,892 $ 18,338,501 $ 18,956,859 $ 19,950,552 Percentage Change in Dollars 6.8% 11.9% 9.7% 0.8% 3.4% 5.2% *These funds are being combined into the All Purpose Levy. They are all subject to MCA 15-10-420. Tax Authority Authorized but Not Levied General Fund Reduction $ 1,263,330 $ 1,271,667 $ 363,096 $ 703,800 $ 907,719 $ 718,772 Police&Fire Reductions $ 578,525 $ - $ - $ - $ - $ - 911 Mills(Resolution No.3954) $ 749,034 $ 770,733 $ 779,076 $ 803,925 $ 910,755 $ 938,889 Total Authorized But Not Levied $ 2,590,889 $ 2,042,400 $ 1,142,172 $ 1,507,725 $ 1,818,474 $ 1,657,661 Number of Mills Not Levied 31.13 23.85 13.19 16.88 17.97 15.89 Bozeman Taxable Values History Tax Yr 2018 Tax Yr 2017 Tax Yr 2016 Tax Yr 2015 Tax Yr 2014 Tax Yr 2013 FY19 FY18 FY17-N.W.E Effects FY16 FY15 FY14 Total Market Value $ 6,981,943,409 $ 6,745,351,312 $ 5,870,738,906 $ 5,698,588,679 $ 3,598,269,877 $ 3,386,295,608 Change in Total Market Value 3.5% 14.9% 3.0% 58.4% 6.3% 6.6% City-Gross Dollars of Taxable Value 109,713,782 106,224,806 93,669,761 90,787,797 $ 92,081,322 $ 89,650,917 Less: Downtown TIF Taxable Value 4,159,996 3,769,917 3,068,902 2,898,551 2,718,220 2,586,963 Less: Northeast TIF Taxable Value 229,047 223,765 193,281 214,470 190,579 172,608 Less:Midtown TIF Taxable Value 982,574 948,716 1,003,546 1,055,385 1,225,604 1,193,297 Less: Mandeville Farm TIF Taxable Value - 87,633 78,606 55,211 52,376 60,693 Less:North Park Urban TIF Taxable Value 20,749 - - - - - Less: South Bozeman Tech TIF Taxable Value - - - - 2 Less: Total of77F's Taxable Value 5,392,366 5,030,031 4,344,335 4,223,617 4,186,781 4,013,561 City-Net Dollars of Taxable Value $ 104,321,416 $ 101,194,775 $ 89,325,426 $ 86,564,180 $ 87,894,543 $ 85,637,356 Tax Dollars Generated from 1 Mill: $ 104„321 $ 101,195 $ 89,325 $ 86,564 $ 87,895 $ 85,637 Change in Taxable Value from Previous Year Tax Yr 2018 Tax Yr 2017 Tax Yr 2016 Tax Yr 2015 Tax Yr 2014 Tax Yr 2013 FY19 FY18 FYI-N.W.E Effects FY16 FY15 FY14 City-Gross% 3.3% 13.4% 3.2% -1.4% 2.7% 3.1% Downtown TIF 10.3% 22.9% 5.9% 6.6% 5.1% 8.0% Northeast TIF 2.4% 15.8% -9.9% 12.5% 10.4% 14.9% Midtown TIF 3.6% -5.5% -4.9% -13.9% 2.7% 10.1% Mandeville Farm TIF -100.0% 11.5% 42.4% 5.4% -13.7% -21.6% North Park Urban TIF 100.0% South Bozeman Tech TIF - - - - - City-Net% 3.1% 13.3% 3.2% -1.5% 2.6"% 2.9% Change $ 3,488,976 $ 12,555,045 $ 2,881,964 $ (1,293,525) $ 2,430,405 $ 2,716,384 Change in TIFs 362,335 685,696 120,718 36,836 173,220 305,423 Change in Net $ 3,126,641 $ 11,869,349 $ 2,761,246 $ (1,330,363) $ 2,257,187 $ 2,410,961 TIF's combined growth as a%of Total Growth 10.4% 5.5% 4.2% -2.8% 7.1% 11.2% City Newly Taxable Property 3,707,744 3,393,650 3,279,600 4,563,975 2,642,222 1,462,894 •of prior year 109% 103% 72% 173% 181% 137% %Newly Taxable increase from prior year 3.7% 3.8% 3.8% 5.2% 3.1% 1.8% U ® MONTANA REVENUE Form AB-72T Rev. 3-12 2018 Certified Taxable Valuation Information (15-10-202, MCA) Gallatin County CITY OF BOZEMAN Certified values are now available online at property.mt.gov/cov 1. 2018 Total Market Value'................................................................................................. $ 6,981,943,409 2. 2018 Total Taxable Value2................................................................................................ $ 109,713,782 3. 2018 Taxable Value of Newly Taxable Property............................................................ $ 3,707,744 4. 2018 Taxable Value less Incremental Taxable Value ................................................... $ 104,321,416 5. 2018 Taxable Value of Net and Gross Proceeds4 (Class 1 and Class 2)...........................................................................I................. $ - 6. TIF Districts Tax Increment Current Taxable Base Taxable Incremental District Name Value Value Value BOZEMAN DOWNTOWN 5,488,691 1,328,695 4,159,996 NORTHEAST URBAN REN 652,101 423,054 229,047 BOZEMAN MIDTOWN UI 4,490,297 3,507,723 982,574 NORTH PARK URBAN REI 265,081 244,332 20,749 SOUTH BOZEMAN TECHI 305 417 - ^ ^ Increment based on the percentage of overall increment for the TIFD Total Incremental Value $ 5,392,366 Preparer Pam Moor Date 8/1/2018 1Market value does not include class 1 and class 2 value 2Taxable value is calculated after abatements have been applied 3This value is the taxable value less total incremental value of all tax increment financing districts 4The taxable value of class 1 and class 2 is included in the taxable value totals For Information Purposes Only 2018 taxable value of centrally assessed property having a market value of$1 million or more, which has transferred to a different ownership in compliance with 15-10-202(2), MCA. I. Value Included in "newly taxable" property $ - II. Total value exclusive of"newly taxable" property $ - MONTANA AmkREVENUE Form AB-72T Rev. 3-12 2018 Certified Taxable Valuation Information (15-10-202, MCA) Gallatin County BOZEMAN (CITY) PLANNING DISTRICT Certified values are now available online at property.mt.gov/cov 1. 2018 Total Market Value l................................................................................................. $ 6,981,943,409 2. 2018 Total Taxable ValueZ................................................................................................. $ 109,713,782 3. 2018 Taxable Value of Newly Taxable Property............................................................ $ 3,707,744 4. 2018 Taxable Value less Incremental Taxable Value ................................................... $ 104,321,416 5. 2018 Taxable Value of Net and Gross Proceeds4 (Class 1 and Class 2)............................................................................................. $ - 6.TIF Districts Tax Increment Current Taxable Base Taxable Incremental District Name Valuez Value Value BOZEMAN DOWNTOWN 5,488,691 1,328,695 4,159,996 NORTHEAST URBAN REN 652,101 423,054 229,047 BOZEMAN MIDTOWN UI 4,490,297 3,507,723 982,574 NORTH PARK URBAN REI 265,081 244,332 20,749 SOUTH BOZEMAN TECHI 305 417 - ^ ^ Increment based on the percentage of overall increment for the TIFD Total Incremental Value $ 5,392,366 Preparer Pam Moor Date 8/1/2018 1Market value does not include class 1 and class 2 value 2Taxable value is calculated after abatements have been applied 3This value is the taxable value less total incremental value of all tax increment financing districts 4The taxable value of class 1 and class 2 is included in the taxable value totals For Information Purposes Only 2018 taxable value of centrally assessed property having a market value of$1 million or more, which has transferred to a different ownership in compliance with 15-10-202(2), MCA. I. Value Included in "newly taxable" property $ - II.Total value exclusive of"newly taxable" property $ -