HomeMy WebLinkAboutFiscal Year 2010 Tax Levy Hearing
Commission Memorandum
REPORT TO: Honorable Mayor and City Commission
FROM: Anna Rosenberry, Finance Director
Chris Kukulski, City Manager
SUBJECT: Tax Levy Hearing for FY2010
MEETING DATE: July 20, 2009
RECOMMENDATION: Open and Continue the Tax Levy Hearing to September 14,
2009.
BACKGROUND: In general, state property tax timelines prohibit the City from adopting a
final budget and tax levy before the fiscal year begins. This year, the City has received notice
from the Montana Department of Revenue that taxable values will be delayed by at least 3 weeks
this year. They estimate delivery of certified values in the last week of August. Based on this
information, we estimate the Tax Levy resolution will adopted on September 14, 2009.
By advertising, opening and continuing the Tax Levy Hearing, we will be able to adopt the final
levy once taxable values are received, without further advertising delay. We recommend that the
Tax Levy Hearing be continued to the September 14, 2009 Commission Meeting.
Details of the City’s estimated tax levy for Fiscal Year 2010 can be found on page 46 (attached)
of the City Manager’s Recommended Budget. It outlines a small projected decrease in the tax
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levy for the coming year. 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.
Report compiled on July 15, 2009
Attachments: Mill Levies and Mill Values, FY10 CM Recommended Budget
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City Manager’s Recommended Budget FY10 46 City of Bozeman, Montana
MILL LEVIES & MILL VALUES
FISCAL YEAR FY 05 FY06 FY07 FY08 FY09 FY10 *EST
MILL VALUE $ 52,985 $ 58,063 $ 63,249 $ 68,981 $ 74,178 $ 76,403
PERCENTAGE CHANGE - 9.6% 8.9% 9.1% 7.5% 3.0%
GENERAL FUND:
All-Purpose 111.48 111.39 110.57 101.26 111.91 111.63
SPECIAL REVENUE:
City Planning 2.00 2.00 2.00 2.00 2.00 2.00
Police Retirement 3.88 3.54 4.07 4.27 4.14 4.14
Firefighters' Retirement 1.87 1.71 2.68 2.81 2.72 2.72
Public Employees' Retirement 3.93 3.59 4.39 4.61 4.52 4.52
Comprehensive Insurance 3.78 3.45 4.45 4.67 4.53 4.53
Health/Med Insurance 24.73 23.21 22.91 22.36 24.31 24.25
Fire Capital & Equipment 4.00 4.00
Fire Truck/Equipment 6.00 6.00
Senior Transportation 1.00 1.00 1.00 1.00 1.00 1.00
Workforce Housing 1.46 1.00
TOTAL SPECIAL REVENUE 47.19 44.50 41.50 41.72 48.68 48.16
DEBT SERVICE:
Library G.O. Bonds 7.99 5.39 4.95 4.53 4.27 4.13
Transportation G.O. Bonds 5.33 6.98 6.40 6.67 6.30 6.13
TOTAL DEBT SERVICE 13.32 12.37 11.35 11.20 10.57 10.26
TOTAL ALL LEVIES 171.99 168.26 163.42 154.18 171.16 170.05
Percentage Change - -2.2% -2.9% -5.7% 11.0% -0.7%
Property Taxes Levied $9,112,890 $9,769,893 $10,336,467 $10,635,491 $12,696,306 $12,992,069
Percentage Change - 7.2% 5.8% 2.9% 19.4% 2.3%
$ 583,000.00
Police & Fire
Levy Reduct'n
$ 350,120 $ 303,570
FY09 SAFER FY10 SAFER
$ - $ 174,189 $ - $ 620,829 $ 667,602 $ 687,630
911 Mills 911 Mills 911 Mills
Res. No. 3954 Res. No. 3954 Res. No. 3954
* Tax Authority Authorized but Not Levied
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