4 Proposed 2006 Budget
CITY OF
CHANHASSEN
7700 Market Boulevard
PO Box 147
Chanhassen, MN 55317
Administration
Phone 952227.1100
Fax 952.227.1110
Building Inspections
Phone 952227.1180
Fax 952227.1190
Engineering
Phone 952227.1160
Fax 952227.1170
Finance
Phone 952227.1140
Fax 952.227.1110
Park & Recreation
Phone 952.227.1120
Fax 952227.1110
Recreation Center
2310 Coulter Boulevard
Phone 952227.1400
Fax 952227.1404
Planning &
Natural Resources
Phone: 952227.1130
Fax 952.227.1110
Public Works
1591 Park Road
Phone 952227.1300
Fax 952227.1310
Senior Center
Phone 952227.1125
Fax 952227.1110
Web Site
www.ci.chanhassen.mn.us
4-
MEMORANDUM
TO:
Mayor
City Council Members
u.7 '
o~V
FROM:
Greg Sticha, Finance Director
DATE:
September 8, 2005
SUBJ:
Approval of Preliminary Tax Levy
In response to the discussion and City Council direction at the council work
session on August 22nd, staff has prepared a preliminary tax levy. Council
directed staff to include the use of $285,000 of excess fund balance to pay debt
levies and maintain what is calculated as a zero effect on the average taxpayer in
the city.
The levy proposed for taxes payable in 2006 will show a total of $9,354,890,
which is $100,021 less than the 2005 levy.
Included for your review is the summary of the levy proposed showing a net
effect on existing property owners of zero percent. Also included are the bond
levy schedule from now thru 2025 and the revolving improvement fund
through 2017.
RECOMMENDA TION
Staff recommends that the City Council adopt the preliminary tax levy as
presented. This action requires a simple majority vote of those present.
A TT ACHMENTS
1. Bond Tax Levy Schedule 2005-2025
2. Revolving Improvement Fund Schedule
3. Levy Summary Schedule
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.
TAX LEVY
CITY OF CHANHASSEN
2006 Budget
2005 2006 Percent
TAX CAPACITY BASED TAX LEVY Levy Levy Increase
General Fund $6,251,820 $ 6,399,600 2.36% 147,780
Capital Replacement Fund (for equipment) $800,000 $ 800,000 0.00%
MSA Fund (for street & trail pavement maint.) 162,000 216,500 33.64%
Special Assessment Debt 96,940 129,300 33.38%
General Obligation Debt 658,604 484,614 -26.42%
General Obligation Debt (212 Bonds) 80,000
Debt of Other Agencies (EDA) 121,213 122,048 0.69%
TOTAL TAX CAPACITY BASED TAX LEVIES $8,090,577 8,232,062 1.75%
MARKET VALUE TAX LEVY
Park Referendum
Library Referendum
TOTAL MARKET VALUE TAX LEVY
881,234
483,100
$1,364,334
$9,454,911
TOTAL TAX LEVY
Dollar Increase
921 ,128
486,700
$1,407,828
$9,639,890
$184,979
4.53%
0.75%
3.19%
1.96%
Levy W/O Debt
Service Reduction
Taxes applied to: General Fund $
Capital Replacement
MSA Fund
Total Levy subject to levy limits
Bond Funds
Reduction in OS Levy
Total
6,399,600
800,000
216,500
$7,416,100
2,223,790
o
$9,639,890
Tax Generation Capacity
Scenario 1
No MV Increase
W/O OS Reduct
Prior Year
New Construction
Exsiting MV Inc
TIF Oist 1
Eden Trace TIF
Gateway TIF
$9,454,911
$236,373
$0
-$415,000
-$45,000
$125,000
$9,356,284
Total Capacity
Net Effect on existing property owners
3.03%
.. - These funds to be used to pay down the debt levy by about $500,000 each of the next four years.
-0.01 %
Levy With Debt
Service Reduction
$ 6,399,600
800,000
216,500
$7,416,100
2,223,790
(285,000) ..
$9,354,890
Scenario 1.5
No MV Increase
With OS Reduct ..
$9,454,911
$236,373
$0
-$415,000
-$45,000
$125,000
$9,356,284
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CITY OF CHANHASSEN
CARVER AND HENNEPIN COUNTIES, MINNESOTA
DA TE:
Seotember 12. 2005
RESOLUTION NO:
2005-
MOTION BY:
SECONDED BY:
A RESOLUTION ADOPTING THE PRELIMINARY 2005 BUDGET, AND ESTABLISHING
TRUTH IN TAXATION TAX LEVIES FOR 2005, COLLECTIBLE IN 2006
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF CHANHASSEN AS
FOLLOWS:
1. That the 2006 Budget for the City of Chanhassen is adopted in the aggregate revenue
and expenditure amounts for the General Fund of $8,615,100, which are detailed in the
2006 Preliminary Budget; and
2. That the following sums of money have been scheduled as "Proposed Levy
Certification" to fund operations of the general fund, capital replacement fund, MSA
fund and debt service funds to be levied in 2005 for collection in 2006 upon the taxable
property in the City of Chanhassen as shown in this resolution; and
3. That the City Council of the City of Chanhassen determines that certain bonded
indebtedness levies are hereby adopted to meet current and future bond requirements
and that the County Auditor is hereby authorized and directed to increase or reduce the
previously adopted bonded debt levies as shown on the attached Tax Levy Certification
document; and
4. That the Truth in Taxation hearing date will be set for December 5, 2005 and the
budget and tax levy adoption will be set for December 12, 2005 as allowed by law; and
5. That the City of Chanhassen authorizes the County Auditor to certify the amounts as
set forth in the attached Proposed Levy Certification document for purposes of
preparing the Truth in Taxation notices.
Passed and adopted by the Chanhassen City Council this 12th day of September, 2005.
ATTEST:
Todd Gerhardt, City Manager
Thomas A. Furlong, Mayor
YES
NO
ABSENT