D. Public Hearing on 2008 Budget & Tax Levy
CITY OF
CHANIlASSEN
7700 Market Boulevard
PO Box 147
Chanhassen, MN 55317
Administration
Phone: 952.227.1100
Fax: 952.227.1110
Building Inspections
Phone: 952.227.1180
Fax: 952.227.1190
Engineering
Phone: 952.227.1160
Fax: 952.227.1170
Finance
Phone: 952.227.1140
Fax: 952.227.1110
Park & Recreation
Phone: 952.227.1120
Fax: 952.227.1110
Recreation Center
2310 Coulter Boulevard
Phone: 952.227.1400
Fax 952.227.1404
Planning &
Natural Resources
Phone: 952.227.1130
Fax: 952.2271110
Public Works
1591 Park Road
Phone: 952.2271300
Fax: 952.227.1310
Senior Center
Phone: 952.227.1125
Fax: 952.227.1110
Web Site
www.ci.chanhassen.mn.us
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MEMORANDUM
TO:
Mayor
City Council Members
Greg Sticha, Finance Director ~. 7'
FROM:
DATE:
D'~
December 3, 2007
SUBJ:
Truth-in-Taxation Hearing
Attached please find the 2008 Budget PowerPoint presentation that will be
presented at the Truth-in-Taxation hearing on Monday night. Staff does not
anticipate many public comments at the hearing.
ATTACHMENTS
1. 2008 Budget PowerPoint Presentation
The City of Chanhassen · A growing community with clean lakes, quality schools, a charming downtown, thriving businesses, winding trails, and beautiful parks. A great place to live, work, and play.
City of Chanhassen
2007
Truth-in-Taxation
Hearing
December 3, 20071
Required Elements for
Truth in Taxation
Present the proposed 2008 budget.
Present the proposed 2008 tax levy.
Discuss major changes to the budget
and levy.
Hold the public hearing for citizen input
and comments (December 3).
Adopt levy and budget on December 10.
2
Budget Process
Preliminary budgets submitted by Department
Directors in July.
Budget reviewed by Finance Director and
City Manager in August.
Preliminary Tax Levy Adopted for Truth-in-Taxation
purposes on September 15.
Detail budget meetings held in October and
November.
Truth-in-Taxation hearing held on December 3.
Budget adoption on December 10.
3
Expenditures
20072008% Change
BudgetBudgetfrom 2007
$1,979,200$1,985,500.3%
General Government
$2,837,600$3,028,1006.7%
Law Enforcement
$2,089,400$2,098,900.5%
Public Works
$411,900$429,9004.4%
Community Development
$1,744,300$1,793,8002.8%
Park & Recreation
$9,062,400$9,336,2003.0%
Total
4
Revenues
20072008% Change
BudgetBudgetfrom 2007
$6,288,100$6,583,9004.7%
Property Tax
$1,525,300$1,437,800(5.7)%
Licenses & Permits
$205,000$225,0009.8%
Intergovernmental Rev.
$660,500$619,000(6.3)%
Charges for Services
$136,500$157,50015.4%
Fines & Penalties
$247,000$313,00026.7%
Other Revenue
$9,062,400$9,336,2003.0%
Total Revenue
5
General Fund Expenditure History
6
What factors change
the budget for 2008?
Operating expenditures remain relatively flat.
Total General Fund expenditures increase
3.02%.
Police contract accounts for 74% of the general
fund increased expenditures. The police
contract includes one additional officer and a
5% wage increase.
7
Tax Capacity Levy Changes
Tax Capacity Levies20072008% Chg
General Fund$6,558,100$6,821,700+4.0
Capital Replacement$824,000$824,000+0.0
MSA (Sealcoating)$250,750$267,875+6.8
Special Assessment Debt$129,500$0-100.0
General Obligation Debt$568,280$769,873+35.5
Local Street Improvements$0$100,000+100.0
EDA Debt$122,548$122,703+0.1
TOTAL TAX $8,453,178$8,906,151+5.4
CAPACITY LEVIES
8
Market Value Levy Changes
Market Value Levies20072008% Chg
Park Referendum$633,500$425,914-32.8
Library Referendum$489,100$490,700+0.3
TOTAL MARKET $1,122,600$916,614-18.3
VALUE LEVIES
9
Debt Service
The debt levy for 2008 remained the same as the
prior year. It is our intent to use reserves to keep
the debt levy flat until 2009, at which point excess
levy becomes available to help fund our streets
(revolving assessment fund).
10
Net Tax Levy Effects
General Fund levy increase of 4.7%.
Total tax levy increase of $279,187 or 2.92%.
11
Effect on Homeowners
Below are some examples of how the 2008 levy will
impact some property owners:
20072008Percent 2007 City 2008 City Percent
ValueValueChangeProperty TaxProperty TaxChange
Parcel
1$330,600$330,6000%$885.12$853.60-3.6%
2$380,200$390,2002.6%$1,033.18$1,026.10-.6%
3$472,500$489,8003.7%$1,292.71$1,294.15+ .1%
4$587,900$594,0001.0%$1,660.77$1,625.18-2.1%
5665,300$688,2003.4%$1,918.44$1,930.03+ .6%
6$793,200$912,20015%$2,344.48$2,654.65+ 13.2%
12
Recommendation
Hold continuation hearing, if needed, on
Monday, December 10, 2007.
Adopt the tax levy and budget as shown
on Monday, December 10, 2007.
13