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Public Budget Meetingy 09 FORTAXES PAYABLE IN 2015 CITY OF CHANHASSEN - DECEMBER 1, 2014 0 Budaet Process a Preliminary budgets submitted by Department Directors in early July Budget reviewed by Finance Director and City Manager in late July a Detailed Budget Meeting held in August a Preliminary Tax Levy Adopted for Truth -in- Taxation Statement purposes on September 8 o Public budget meeting held on December 1 R Budget adoption on December 8 Expenditures General Government Law Enforcement/Fire Public Works Community Development Park & Recreation 2014 Final Budget $2,016,449 $3,148,700 $2,360,300 $434,400 $1,969,100 2015 Preliminary Budget $2,070,700 $3,276,400 $2,436,700 $446,500 $2,006,200 Total 1 $9,928,9491 $1032369500 2015 Recommended Final Budget $2,064,300 $3,253,100 $2,406,800 $464,400 $1,975,900 $1091649500 % Change from 2014 +2.4% +33% +2.0% +69% +04% +2.4% 1 4 1 Property Tax Licenses & Permits Intergovernmental Rev. Charges for Services Fines & Penalties Other Revenue Total Revenue Revenues 2014 Final Budget $7,629,950 $999,500 $285,000 $569,900 $122,500 $322,099 $9,928,949 2015 Preliminary Budget $7,876,831 $1,002,500 $330,000 $588,500 $112,500 $326,169 $109236,500 2015 Recommended Final Budget $7,804,831 $1,002,500 $330,000 $588,500 $112,500 $326,169 $10,1649500 % Change from 2014 +23% +0.3% +158% +33% -8.2% +1 3% +2.4% General Fund Expenditure History $11,000,000 $10,000,000 $9,000,000 $8,000,000 $7,000,000 $6,000,000 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 G. 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2015 (Prel) (Final) What factors change the budaet for 2015? o Most expenditure line items remain flat for 2015 Ei General Fund expenditures increased $307,551 (+3.1%)7 $245,551 ( +2.5 %) after staff recommended adjustments a Wage increases of 3.0% included • Budgeted permit revenue same as 2014 • Healthcare Cost Budgeted at 15% (actual -6 %, adjustment will be made before final levy) a New growth for taxes payable in 2015 is 1.76% Operational /Capital &Debt Levy Changes 1 7 Debt Levies General Obligation Debt (212 Bonds) $233,800 Audubon $444,410 Public Works Facility $592,100 Library Referendum $448,880 Total Debt Levies $1,719,190 $232,300 $232,300 2015 $55,000 Operational & Capital Levies 2014 Final 2015 Recommended % Chg $444,098 Levies Preliminary Final Levies -22.3% $7,629,950 $7,811,831 $7,779,831 General Fund Capital Replacement $800,000 $800,000 $800,000 MSA (Sealcoating) $185,000 $185,000 $185,000 Revolving Street Const Fund $395,192 $395,192 Total Operational & Capital Levies $8,614,950 $9,192,023 $9,160,023 +6.33% Debt Levies General Obligation Debt (212 Bonds) $233,800 Audubon $444,410 Public Works Facility $592,100 Library Referendum $448,880 Total Debt Levies $1,719,190 $232,300 $232,300 $55,000 $55,000 $590,600 $590,600 $446,098 $444,098 $1,323,998 $1,323,998 -22.3% TOTAL ALL LEVIES 1 $10,334,140 1 $10,516,021 1 $10,484,021 1 +1.45% � - I 4% 3% 2% 1% 0% -1% Total Levy vs. New Growth ■ Tota I Levy ■ New Growth 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2015 (Prel) (Final) e Effect on Homeowners Below are some examples of how the 2015 levy will impact property owners The average home in Chanhassen increased in value approximately 10 9% in taxable market value for 2n1r) Parcel 1 2014 Value $273,000 2015 Value $301,600 Percent Change +10.5% 2014 Property Tax $781.62 , Property Tax $782.36 Percent Change +0.0% 2 $312,100 $361,800 +15.6% $892.92 $937.70 +5.0% 3 $345,800 $384,700 +11.3% $988.83 $996.79 +0.8% 4 $707,700 $764,300 +80% $2,163.55 $2,143.13 -1.0% 5 $1,016,400 $1,108,100 +9.0% $3,255.91 $3,245.96 -0.3% Actual Property Tax Statement for Pro-posed 2015 Taxes (School District #112) v Property Taxes ■ County 32.6% ■ School 41.6% w City 20.8% " { Other 5% 0 KFS Budgeted Expenditure Comparison City Andover ... 31,125 , . 13,205,076 12,762,112 , -3.35% Chanhassen 23,779 9,889,000 10,103,249 2.17% Chaska 24,211 10,928,934 12,063,473 10.38% Lino Lakes 20,625 8,287,885 8,366,048 0.94% Cottage Grove 35,187 15,406,485 17,347,094 12.59% Rosemount 22,384 11,117,100 11,495,300 340% Savage 27,552 12,347,173 12,707,561 292% Farmington 211792 10,429,653 11,340,019 873% Prior Lake 23,385 10,917,600 11,580,573 607% Elk River 24,361 13,641,750 13,889,550 130% Stillwater 18,638 11,420,416 12,192,512 676% Average 24,822 11,599,207 12,161,590 4.72% * Met Council Population Estimate ** Minnesota State Auditors Office City Summary Budget Report for 2013 and 2014 Carver County Cities Budgeted Expenditure Comparison v * Met Council Population Estimate ** Minnesota State Auditors Office City Summary Budget Report for 2013 and 2014 Budgeted Increase City Population Chanhassen 23,779 91889,000 101103,249 2.17% Chaska 241211 101928,934 1210631473 10.38% Waconia 111065 510281758 5,7261320 13.87% Victoria 7,793 3,651,206 31633,932 -0.47% Carver 4,012 1,848,987 2,0121367 8.84% Average 141172 6,2691377 61707,868 6.96% * Met Council Population Estimate ** Minnesota State Auditors Office City Summary Budget Report for 2013 and 2014 KFS Per Capita Spending Comparison City Lino Lakes Per Capita Spending 2014 402 Andover 403 Chanhassen 418 Savage 444 Prior Lake 478 Chaska 486 Cottage Grove 490 Rosemount 509 Farmington 514 Elk River 591 Stillwater 643 Average 489 14 Carver County Cities Per Capita Spending Comparison City Chanhassen Per , Spending 2014 418 Victoria 447 Chaska 486 Carver 493 Waconia 505 Average 470 15 Carver County Tax Rates City Chaska 2014 Tax Rate" 26.586 Chanhassen 27.238 Victoria 37.887 Waconia 49.423 Carver 54.555 Norwood Young America 64.086 Watertown 65.305 Mayer 67.784 Cologne 78.650 New Germany 118.059 Hamburg 123.734 Average 64.846 ** Based on Urban Tax Rates ,s Discussion Points a Staff will meet with city council next week to finalize the 2015 budget and tax levy 17 z 9 �f * unk dflk YOU10 CITY OF CHANHASSEN DECEMBER 1, 2014