1. 2017 Tax Levy Payable & General Fund Budget

2. Proposed 2017 Tax Levy Increase of $63,349 from 2016 tax levy. (+5.7%)
All non-enterprise fund debt service is covered.
Tax rate would reduce for third straight year (-1.433%).
Local Government Aid set to increase by $718.
Levy funds to make up 57.3% of General Fund Revenue.

3. Carver County 2017 Proposed Tax Rate Comparison
Based on 5.7% Levy increase, Cologne’s 2017 tax rate would be %.

4. How Tax Rate Affects Taxes Paid
City tax amount payable is calculated by taking the taxable value times the class rate (.01), multiplied by the tax rate (70.962% in 2016.)
$109,000*.01=$1,090
$1,090*70.962%=$773.49

5. Tax Rate cont.

6. Tax Rates

7. 2017 General Fund Notable Expenditures:
Replacement of 1997 pickup truck
Continuation of milling/overlay of roads and sealing trails
Increase in Fire Department Relief Association pension to $1,500 per year of service

8. Budget vs. Expenditure & Levy

9. Revenue/Expenditure 2017

10. 2017 General Fund Notable Revenue Sources Expect 15 new home builds.
LGA $201,171, increase of $718.
Small Cities Assistance Fund dollars not in the revenue budget ($23,955 in 2015)

11. Questions or Comments?