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2010 Revenue Hearing City of DuPont A Unique City – A Vibrant Future.

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Presentation on theme: "2010 Revenue Hearing City of DuPont A Unique City – A Vibrant Future."— Presentation transcript:

1 2010 Revenue Hearing City of DuPont A Unique City – A Vibrant Future

2 Assessed Valuation Levy Year Assessed Valuation Levy Rate Property Tax Levy 2003520,391,9820.3243168,763 2004540,923,7901.3243716,345 2005606,085,6651.2760773,338 2006775,075,4571.1930924,670 20071,026,725,9621.05821,086,244 20081,204,921,5070.98551,187,503 20091,248,683,1930.99741,267,908 20101,288,116,3351.02831,319,700

3 Assessed Valuation

4 New Construction Value vs. Property Tax Yield New Construction = Property Taxes 2010 - $ 38,929,728 = $ 38,828 2009 - $ 69,227,520 = $ 67,825 2008 - $ 84,163,054 = $ 89,062 2007 - $127,894,671 = $152,579 2006 - $112,086,594 = $143,017 2005 - $ 41,015,149 = $ 54,316 2004 - $ 27,744,137 = $ 8,997 2003 - $ 37,350,662 = $ 11,978 2002 - $ 21,150,600 = $ 6,954 2001 - $ 54,479,688 = $ 17,243 2000 - $ 24,595,000 = $ 7,497

5 Property Tax Calculation Prior Year’s Levy x 1% Statutory Limit –$1,267,908 x 1% = $12,679 (inflationary increase) + New Construction Assessed Valuation x 2009 property tax rate –$38,929,728 x $0.9974 = $38,828 + Administrative Refunds = $285 = Total Levy Amount = $1,319,700 Total Levy ÷ Total Assessed Valuation –($1,319,700 ÷ 1,288,116,335)*$1,000 AV = $1.02829

6 City Property Tax Comparisons

7 City Property Tax Comparisons including Fire Regular Levies

8 Where Did Your 2009 Property Tax Dollar Go? Steilacoom School District 37.1 cents City of DuPont 9.7 cents Steilacoom School District 49.7 cents State of Washington 19.7 cents Pierce County 10.5 cents Pierce County Library 4.3 cents Port of Tacoma 1.8 cents EMS Levy 4.0 cents Excess Levy 0.3 cents

9 Property Tax Levies Regular Ad Valorem - $ 1.0283/1,000 AV EMS - $ 0.4310/1,000 AV Regular Ad Valorem -$1,319,700 EMS -$ 553,192

10 Annual Property Tax Comparison 20092010 Regular$299$308 EMS$125$129 Voted$ 9$ 0 Total$433$437 Based on a home assessed at $300,000

11 Public Comments


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