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Home My WebLink AboutCity Council Packet 08-07-1997 Special 1PLYMOUTH CITY COUNCIL SPECIAL COUNCIL MEETING 1998 PROPOSED BUDGET THURSDAY, AUGUST 7, 1997 7:00 P.M. PUBLIC SAFETY TRAINING ROOM I. Review of Sewer Fund II. Overview of 1998 Proposed Budget III. General Discussion on 1998 Budget V p co Co M CD cfl M cfl m 4 w D o 000 0) C, u U) d- QU) cDCDcD Cn Cn a Oic G O W co w W W W N CD CD 00 O CwT N v cfl r o 3 co c c c r Cn n co CD N W C y ZCnC O O C 0) OCDCDCflO nO Cl)CS n r O O cr CL O Z o 0 O W N N n rn c cD 6 m o vcn Z o n;; m I cQ v rn m 0 0 0o 4 j cn w 0 COOIONNW O w N N Cn 00 V 4 Z cn WO-4(DW-A-Mc moCnrnrOOvc000m rnEn Q cn cn cn A A A w X T co o c) D co D rn m n CD O cn m cn m Co Z CCD O0 cn m N A CD n ZrnwcoCo4CDm W A O Cn W O N N v C CD D C" co N N W— Cn m— ONWCnOMCD4cl) O O W N N inCNnUlOA mOOCflDmw N 4s, W n V N O CA W Co O C C O A 1 ch O O O Eta N D W v O A v n OOoo0-N0o0DD 00-v-N0ao Z= NOONw00OOO O O O M M W M Cfl M A N N m u m V) CC 4 4 o m00 N N N N PQ 01 O Z n M X m n o D z m 1998PROPOSIBB#BRIT rp 1998 PROPOSIB B#BSIT CITY OF PLYMOUTH TAX RATES, 1993 - 1998 1993 18.04 1994 16.67 1995 15.84 1996 14.94 1997 14.53 1998 14.87 2 1998PROPOSIBBOBVIT CITY TAXES PAID ON AVERAGE HOME, 1993 - 1998 Year City Taxes 1993 $432.24 1994 $417.75 1995 $417.23 1996 $419.52 1997 $430.15 1998 $428.56 C 1998 PROPOSIB BOBVIT THE BOTTOM LINE CITY TAXES ON SELECTED HOMES El INCREASE/ HOUSE VALUE PROPOSED DECREASE 1997/1998 1997 1998 OVER 1997 80,000 / $ 82,700 128 133 5 184,000 / $190,300 430 429 200,000 / $206,800 477 474 3 250,000 / $258,500 622 616 6 El 1998FN#P#SfBBffBf1T CITY TAX ON $184,000 HOMES FOR SELECTED CITIES BROOKL YN CENTER BROOKLYN PARK GOLDEN VALLEY EDEN PRAIRIE RICHFIELD CRYSTAL MAPLE GROVE NEW HOPE BLOOMINGTON ST. LOUIS PARK MINNETONKA EDINA PLYMOUTH 1998 14.87 * 428.56 Proposed Plymouth has the lowest tax rate of all 77 cities over 10,000 population Includes market value levies: Maple Grove 01893 MORE 01301 Plymouth LESS) 1997 TAX RATE 1997 TAX THAN PLYMOUTH 32.88 973.25 543.10 30.88 914.05 483.90 27.47 813.11 382.96 27.02 * 799.90 369.75 26.18 774.93 344.78 26.41 781.74 351.59 25.59 * 757.43 327.28 24.20 716.32 244.76 21.28 629.89 199.74 19.80 586.08 155.93 18.52 548.19 118.04 16.66 * 493.06 62.91 PLYMOUTH 1998 14.87 * 428.56 Proposed Plymouth has the lowest tax rate of all 77 cities over 10,000 population Includes market value levies: Maple Grove 01893 Eden Prairie 01301 Plymouth 00502 Edina 01659 5 1998PNOPOSIBBOBVIT MARKET VALUE TRENDS RESIDENTIAL NEW CONSTRUCTION RESIDENTL4L APPRECL4TION RESIDENTLAL LAND COMMERCIAL & INDUSTRIAL NEW CONSTRUCTION COMMERCIAL & INDUSTRIAL LAND APPRECIATION COMMERCIAL & INDUSTRIAL APPRECL4TION TOTAL GROWTH G'7 Payable 1997 96,983,700 34,488,700 92,836,900 33,251,200 74,834,400 22,976,100 355,371,000 Payable 1998 94,082,800 61,920,900 46,096,500 44,782,300 25,655,700 95,700,400 368,238,600 rp) 1998 PBOPOSIB B#Befr MARKET SEGMENT COMPARISON RESIDENTIAL COMMERCIAL Payable 1997 21781,910,400 989,168,600 3,771,079,000 Payable 1998 2,984,010,600 1,155,307,000 4,139,317,600 1992 1993 1994 1995 1996 NEW DWELLING UNITS: 814 837 633 400 547 Change 7.3% 16.8% 9.8% 1997 Projected 550 7Z L 0 I O A W e O 1 1 ill AA' y W 41 1 44 tel tt• VV Veyy V a14 P.4 n 1C Cj i o0 Cj Sm Qb N v bA bA C C l U V 0 0 0 9 0 aj 1998PBOPOSIBBOBRIT Total Tax Capacity for Payable 1998 Actual Real Property: Tax Capacity $86,426,875 Personal Property: Tax $1,422,564 Capacity Total Tax Capacity $87,849,439 Fiscal Disparity Contribution ($12,252,465) Tax Increment ($1,127,157) 74,469,817 E With old Class Rates 95,709,567 1,422,564 97,1321,131 13,710,279) 1,261,268) 82,160,584 1998PROPOSIBB#BVIT Estimated Tax Burden on Average Home 1997 versus 1998 1997 with 1997 Class Rates Average home value 184,000 Homestead: 72,000 @ 1%= 720 112,000 @ 2%= 2,240 Total Tax Capacity 2,960 City Tax Rate 14.22% Subtotal 420.91 Mkt. Value Levy: $184,000 @.00502% 9.24 Total City Tax J430.15 Proposed 1998 with 1997 Class Rates Average home value 190,300 Homestead: 72,000 @ 1%= 720 118,300 @ 2%= 2,366 Total Tax Capacity 3,086 City Tax Rate 13.18% Subtotal 406.73 Mkt. Value Levy: $190,300 @.00477% 9.08 Total City Tax J4I5.81 Proposed 1998 with New Class Rates Average home value — $190,300 Homestead: 75,000 @ 1%= 750 115,300 @ 1.85%= 2,133 Total Tax Capacity 2,883 City Tax Rate 14.55% Subtotal $419.48 Mkt. Value Levy: $190,300 @.00477% 9.08 Total City Tax $428.56 10 1998 PROPOSIB BffBeff Estimated Tax Burden on $1,000,000 Business 1997 (with 1997 Class Rates) Business value — $1,000,000 100,000 @ 3.00%= 3,000 900,000 @ 4.60%= 41,400 Gross Tax Capacity Value 44,400 Less Fiscal Disp. 14,194 Net Tax Capacity Value 30,206 City Tax Rate 14.22% Subtotal 4,295.30 Mkt. Value Levy: $1,000,000 @.00477% 50.20 Total City Tax 4,345.50 1998 (with 1997 Class Rates) Business Value — $1,120,000 100,000 @ 3.00%= 3,000 1,020,000 @ 4.60%= 46,920 Gross Tax Capacity Value 49,920 Less Fiscal Disp. 15,959 Net Tax Capacity Value 33,961 City Tax Rate 13.18% Subtotal 4,476.11 Mkt. Value Levy: $1,120,000 @.00477% 53.42 Total City Tax 4,529.53 1998 (with New Class Rates) Business Value — $1,120,000 150,000 @ 2.70%= 4,050 970,000 @ 4.00%= 38,800 Gross Tax Capacity Value 42,850 Less Fiscal Disp. 13,698 Net Tax Capacity Value 29,152 City Tax Rate 14.55% Subtotal 4,241.55 Mkt. Value Levy: $1,120,000 @.00477% 53.42 Total City Tax 4,294.97 11 N rp) 1998 PROPOSEOB//06ET Future Capital improvements Projects and Possible Funding Sources AVAILABLE SOURCES OF FUNDS August 1997 Fund Projected balance Proposed Reserve Available Balance Community Improvement Fund 5,791,974 5,000,000 791,974 Project Administration Fund * 2,296,256 1,000,000 1,296,256 Permanent Improvement 184,730 0 184,730 Park Dedication Fund 595,185 0 595,185 Capital Improvement Fund 708,600 0 708,600 Total 9,576,745 6,000,000 3,576,745 includes $750,000 land sale POSSIBLE FUTURE PROJECTS AND UNDESIGNATED FUND BALANCE Project Cost Possible Funding Sources Community/Senior Activity Center 3,000,000 Bond, CIF, Surplus, CIP Fund West Medicine Lake Park 200,000 Fourth Fire Station 2,000,000 Bond, CIF, CIP Fund Field House 2,500,000 Bond, CIF, CIP Fund Complete Ninth Playfield 750,000 Bond, CIF, CIP Fund Purchase Tenth Playfield 1,750,000 Bond, CIF, CIP Fund Preserve Public Golf Course 5,000,000 Bond, CIF, CIP Fund Replace equip/facilities 750,000 PIR Fund, CIP Fund Develop Ess Property 800,000 Bond, CIF, CIP Fund East Medicine Lake Trail 100,000 Bond, CIF, CIP Fund Subtotal 16,850,000 CAPITAL PROJECTS COMPLETED OR UNDERWAY, 1994 - 1997 Project Cost Funding Sources and Balances Open Space Acquisition $2,235,000 Bond and CIF Trail Construction $1,000,000 Bond and CIF Swimming Pool $1,600,000 CIF and Other City Funds Ice Arena $8,300,000 CIF and Other City Funds Council Chambers $600,000 CATV Reserve, Project Administration Armstrong Gym Addition $1,300,000 Tax Increment Financing funds Total 15,035,000 13 PC 4-4 PM -4 CC 4-4 ice.. O O 1-0IPA% 0 POO 4-4a 40* PC pmo P-4 0 4m4 pmq Poo M --i oea a PM" pmo w 04 a Ao as a N° 4) w io w 0 1998PROPOSIBBOBRIT MAJOR OPERATING FUNDS 15 1997 1998 GENERAL FUND 1498209191 1556145155 RECREATION FUND 836,752 933,198 FACILITIES MANAGEMENT 5955720 6625123 TRANSIT FUND 350495950 HRA 158395941 15966,933 WATER FUND 353175187 3,406,905 SEWER FUND 555295558 5,4889564 SOLID WASTE FUND 635,500 6915500 CENTRAL EQUIPMENT FUND 115875572 156389700 RISK MANAGEMENT FUND 6395215 6599651 WATER RESOURCES 2405049 2659800 DESIGN ENGINEERING 2521144 2625091 EMPLOYEE BENEFIT FUND 1,201,700 1,3389000 ICE ARENA 528,000 5319200 INFORMATION TECHNOLOGY 150755506 15154,334 15 1998PBOPOSIBB#BRIT PERSONNEL REQUESTS FOR 1998 New Full Time Tax Supported Positions Park Maintenance (2 positions) April 1 start date) Fire Operations Officer July 1 start date) 16 30,030 1998PROPOSIBBOBRIT CAPITAL EQUIPMENT Continue Equipment Replacement Program $7389200 Sewer Jet $1055000 Four Police Squads $11200 Dump Truck $959000 Grader $701,000 Dump Truck with Plow Equipment $399000 Mower $459000 Computer Equipment Upgrades to NT Server $30,200 Upgrade UNIX mini computer $281000 17