Master Proposed Book FY2023

Property Tax Rate vs. Valuations

15.2 15.4 15.6 15.8 16 16.2 16.4 16.6 16.8 17

$1,000 $1,500 $2,000 $2,500 $3,000 $3,500 $4,000 Taxable Value (in millions)

$0 $500

The following chart shows a detailed breakdown of the City’s property tax asking for Fiscal Year 2023 compared to the previous year. The emergency levy is reduced by $0.04 and both the employee benefits levy and debt service levy remained unchanged from Fiscal Year 2022. The total in property tax dollars levied by the City decreased slightly from the previous fiscal year. FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 Tax Value (millions) $3,036 $3,137 $3,183 $3,421 $3,543 $3,745 $3,923 $4,258 $4,396 $4,385 Val % Change 2.56% 3.32% 1.46% 7.50% 3.55% 5.72% 4.74% 8.54% 3.24% -0.26% Ptax Rate 16.805 16.705 16.651 16.583 16.333 16.183 15.833 15.773 15.673 15.633 Rate % Change -2.69% -0.60% -0.32% -0.41% -1.51% -0.92% -2.16% -0.38% -0.63% -0.26% 15

FY2022

FY2023

Tax Rate

Tax Rate

LEVIES

Dollars

Dollars

per $1,000

per $1,000

General Fund Tax Levies: General

$34,188,090 $4,009,714 $1,225,875 $1,139,603 $1,012,980 $41,576,262

8.100 0.950 0.290 0.270 0.240 9.850 3.003

$34,043,728 $3,992,783 $1,220,699 $1,134,791

8.100 0.950 0.290 0.270 0.200 9.810 3.003

Transit

Tort Liability

Library

Emergency Subtotal:

$840,586

$41,232,587

Agland Levy

$4,362

$4,210

General Fund Property Taxes

$41,580,624

$41,236,797

Special Revenue Levies: Employee Benefits

$14,114,827 $14,114,827 $10,786,090 $66,481,541

3.344 3.344 2.478

$14,055,226 $14,055,226 $10,754,809 $66,046,832

3.344 3.344 2.478

Subtotal: Debt Service

Total City Levy Property Taxes:

15.673

15.633

% Change from prior year

1.65%

-0.65%

-0.65%

-0.26%

SSMID Levy

$430,096

2.000

$421,770

2.000

Total Property Taxes

$66,911,637

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$66468,602

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