HomeMy WebLinkAboutTax Levy Hearing for FY2009
Commission Memorandum
REPORT TO: Honorable Mayor and City Commission
FROM: Anna Rosenberry, Finance Director
Chris Kukulski, City Manager
SUBJECT: Tax Levy Hearing for FY2009
MEETING DATE: July 21, 2008
RECOMMENDATION: Open and Continue the Tax Levy Hearing to August 25, 2008.
BACKGROUND: State property tax timelines prohibit the City from adopting a final budget
and tax levy before the fiscal year begins.
By advertising, opening and continuing the Tax Levy Hearing, we will be able to adopt the final
levy once taxable values are received in August, without further delay. We recommend that the
Tax Levy Hearing be continued to the August 25, 2008 Commission Meeting.
Details of the City’s estimated tax levy for Fiscal Year 2009 can be found on page 43 (attached)
of the City Manager’s Recommended Budget. The document is available online at
http://www.bozeman.net/finance/budget.aspx . This schedule will change once taxable values
are received.
FISCAL EFFECTS: None at this time.
ALTERNATIVES: As suggested by the City Commission.
Respectfully submitted,
Anna Rosenberry, Finance Director Chris A. Kukulski, City Manager
Report compiled on July 16, 2008
Attachments: none
City Manager’s Recommended Budget FY09 43 City of Bozeman, Montana
MILL LEVIES & MILL VALUES
FISCAL YEAR FY 04 FY 05 FY06 FY07 FY08 FY09 *Est
MILL VALUE $ 49,559 $ 52,985 $ 58,063 $ 63,249 $ 68,981 $ 72,430
PERCENTAGE CHANGE - 6.9% 9.6% 8.9% 9.1% 5.0%
GENERAL FUND:
All-Purpose 108.43 111.48 111.39 110.57 101.26 114.14
SPECIAL REVENUE:
City Planning 2.00 2.00 2.00 2.00 2.00 2.00
Police Retirement 4.70 3.88 3.54 4.07 4.27 4.27
Firefighters' Retirement 2.10 1.87 1.71 2.68 2.81 2.81
Public Employees' Retirement 4.08 3.93 3.59 4.39 4.61 4.61
Comprehensive Insurance 4.01 3.78 3.45 4.45 4.67 4.67
Health/Med Insurance 21.77 24.73 23.21 22.91 22.36 23.12
Fire Capital & Equipment 4.00
Fire Truck/Equipment 6.00 6.00 6.00
Senior Transportation 1.00 1.00 1.00 1.00 1.00 1.00
TOTAL SPECIAL REVENUE 45.66 47.19 44.50 41.50 41.72 46.48
DEBT SERVICE:
Library G.O. Bonds 8.22 7.99 5.39 4.95 4.53 4.38
Transportation G.O. Bonds 1.00 5.33 6.98 6.40 6.67 6.45
TOTAL DEBT SERVICE 9.22 13.32 12.37 11.35 11.20 10.83
TOTAL ALL LEVIES 163.31 171.99 168.26 163.42 154.18 171.45
Percentage Change - 5.3% -2.2% -2.9% -5.7% 11.2%
Property Taxes Levied $8,093,480 $9,112,890 $9,769,893 $10,336,467 $10,635,491 $12,417,917
Percentage Change - 12.6% 7.2% 5.8% 2.9% 16.8%
* Tax Authority Authorized but Not Levied $ 341,870
FY09 SAFER
$ - $ 174,189 $ - $ 620,829 $ 651,870
9 Mills 9 Mills
Res. No. 3954 Res. No. 3954