HomeMy WebLinkAbout2006-01-17 Correspondence
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ROLLBACK
HISTORY
92 79.5
9373.1
94 72.7
95 68.1
96 67.5
97 59.3
98 58.8
99 54.9
00 56.5
01 54.9
02 56.3
03 51.7
04 51.4
05 48.4
06 47.9
07 45.9
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Fiscal Year
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
City of Iowa City
Residential Property Growth
Revaluation
490.D48
88,764,374
8,250,627
89,327,308
7,401,184
179,797,776
7,795,321
117,939,844
(455,265)
359,306,980
New Construction
37,743,170
26,020,834
29,322,360
34,563,180
45,031,450
34,002,340
39,217,590
49,152,027
79,346,724
39,031,842
Total Residential
ValuatIon
1,382,385,030
1,500,758,870
1,542,647,920
1,668,300,540
1,719,544,600
1,932,715,150
1,986,809,060
2,156,326,000
2,237,603,740
2,644,533,750
Source: City Assessor's Abstract Reconciliation reports
400,000,000
350,000,000
5: 300,000,000
l'lI
ti 250,000,000
.5
c 200,000,000
o
:; 150,000,000
~
iii 100,000,000
>
50,000,000
o
Residential Growth
__ Revaluation
__ New Construction
?
% change
from prior
year
8.56%
2.79%
8.15%
3.07%
12.40%
2.80%
8.53%
3.77%
18.19%
~ ~ ~ ~ ~ ~ ~ ~ ~ ~
~ ~ ~ ~ ~ ~ ~ ~ ~ ~
Fiscal Year
S:IFINIBudgellbudgelpermlplaxlASSESRCN HISTORY.xls
~
------- ---~~--- ----
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Rollback - Recent History
1998 .588284
1999 .549090 down 7.1%
2000 .564789 up 2.85%
2001 .548525 down 2.96%
2002 .562651 up 2.57%
2003 .516676 down 8.89%
2004 .513874 down .50/0
2005 .484558 down 6.05%
2006 .479624 down 1.03%
2007 .45996 down 4.28%
average decline 2.82% annually
^
~
)
%
Value Increase
Rollback
Net
1999 8.56 -7.1 1.46
2000 2.79 +2.85 5.64
2001 8.15 -2.96 5.19
2002 3.07 +2.57 5.64
2003 12.40 -8.89 3.51
2004 2.80 - .50 2.30
2005 8.53 -6.05 2.48
2006 3.77 -1.03 2.74
2007 18.19 -4.28 13.91
Avg. 4.76
~ If
v
CITY OF lOW A CITY, lOW A
FINANCIAL PLAN FOR 2007 - 2009
Fund: 1000 General
2005 2006 2007 2008 2009
Actual Estimate Budget Projection Projection
Ba;iDAiD; Balance 16,193,649 17,617,737 16,731,533 17,261,986 17,224,719
CUrrent Taxes '19,386,340 19,733,666 21, no, 932 22,168,648 22,809,342
oelq Prop Taxes " 8,444 1;038,328
Other City Taxes 1,019,714 1,065,793 1,085,863 1,105,146
General Use Permits 33,792 35,760 34, 080 34,080 34,080
Food & Liquor Licens 96,063 93,478 96,173 96, 173 96, 173
professional Licenses 46,423 52,068 50,410 50,410 50,410
Misc Permits & Licen 2,025 2,260 1,925' 1,925 1,925
construction Permits & Fees 1,056,898 1,034,625 1,021,875 1,021,875 1,021,875
Misc. Lic. & Permits 24,577 33,715 37,455 37,455 37,455
Fed. Intergov. Rev. 476,512 487,599 789,009 789,009 789,009
properthaTax Credits 23,543 23,301 24,739 24,739 24,739
State-s red Revenues 64,190
State 28e Agreements 1,164,840 1,114,740 1,148,140 1,182,584 1,218,062
Other State Grants 477,341 356,771 451,682 451,682 451,682
Local Govt 28e Agreements 643,853 618,960 603,974 603,974 603,974
Bld~ & Development 407,510 407,223 ' 361,499 361,499 361,499
Pol ce Services 28,537 14,873 33,330 33,330 33,330
JlDimal Care Servs 6,267 8,000 8,000 8,000 8,000
Fire Services 3,000 62,300 62,300 62,300
Transit Fees 880,810 799,929 801,745 801,745 801,745
CUlture JlDd Recreation 576,202 581,906 576,828 576,828 576,828
Misc. Chg. For Ser. 62,503 60,780 63,968 63,968 63,968
'Water Charges For Services 2,940 3,912 3,912 3,912 3,912
Code Enforcement 326,022 387,823 390,050 390,050 390,050
parking Fines 596,613 550,000 550,000 552,750 555,514
Librarb Fines & Fees 216,111 170,082 207,432 207,432 207,432
contri & Donations 124,854 35,105 238,600 216,000 201,000
Printed Materials 24,097 27,671 22,505 22,505 22,505
JlDimal Adoption 11,268 15,000 15,000 15,000 15,000
Misc Merchandise 21,956 23,151 21,306 21,306 21,306
Intra-city Charges 1,584,194 1,619,400 1,612,027 1,612,027 1,612,027
other Misc Revenue 260,275 131,442 178,559 178,559 178,559
IDterest Revenues 512,171 804,381 818,221 808,221 804,721
!tents 118,240 285,377 287,668 287,668 287,668
Parking Lot Revenue 8,666 10,000 8,666 8,666 8,666
Pkg Ramp Revenue 310,000 310,000 310,000 310,000
R~alties & Commissions 23,606 24,415 23,425 23,425 23,425
Sa e Of Assets 396,691 75,150 285,216 94,633 411,733
~l. Benefits Levy 7,201,632 7,805,817 8,358,832 8,921,885 9,517,968
Emergency Levy 553,202 564,773 616,803 628,504 646,915
Road Use Tax 3,356,266 3,711,429 3,910,509 3,996,218 4,116,157
Misc Other Operatin~ Transfers 56,747 62,422 62,989 63,614
From Parking Operat1ons 200,000 200,000 200,000 200,000 200,000
From Broadband 152,823 162,701 152,821 152,821 152,821
Interfund Loans 27,060 22,679 23,840 25,054 26,341
Misc Transfers In 172,611 101,335 7,500 2,000 2,000
Loans 108,635
Total Receipts 42,486,317 43,599,372 47,249,171 48,197,712 49,930,876 .
Personnel 29,128,323 31,293,171 32,597,597 33,979,329 35,378,799
Services 7,499,098 8,481,636 8,706,291 8,890,762 9,006,556
sUP1lies 1,770,694 2,038,651 2,104,761 2,190,805 2,281,755
Cap tal OUtlay 1,526,482 1,582,649 1,997,399 1,636,003 1,488,952
Transfers Out 1,137,632 820,216 847,670 1,065,080 702,956
Contingency 269,253 465,000 473,000 483,000
Total Bxpenditures 41,062,229 44,485,576 46,718,718 48,234,979 49,342,018
lDdiDg Balance 17,617,737 16,731,533 17,261,986 17,224,719 17,813,577
Reserved 1,600,253 1,580,749 1,645,372 1,712,530 1,782,371
unreserved Balance 16,017,484 15,150,784 15,616,614 15,512,189 16,031,200
- 21 .
1
Budget
Current 06
07
07 Amended
100,000 Residential
Value
100,000
100,000
116,000*
City Tax Rate
17.729
17 .863
17.863**
Rollback
47.9
45.9
45.9
Taxable Value
47.900
45,900
53,240
City Tax Revenue
$849
$820
$951
*
Applies an average assessed value increase for 2007
** Tax rate to be amended with reduction in employee benefits levy.
g
BUDGET 07
1. Level of property tax in General Fund - as measured
by homeowner
2. Contingency meets 1% policy (+$100,000)
3. Revenues - those that can be sustained, those
which are risky, General Fund $500,000+ for 07
4. Policy of service, expansion, restoration, as is
5. Can we justify emergency levy (.27 - $600,000) with
the current budget proposals?
6. Water rate reduction of 5%
7. Sewer rate increase of 8%
8. Refuse collection/recycling rate increase of 50i a
month
9. Await transit service recommendations
10. Parking rates
11. Airport - Current subsidy $120,000 , confirm
reduction to $80,000 through Wal-Mart property sale
12. Library and Senior Center additional hours
13. Capital projects
q
City of Iowa City
MEMORANDUM
TO:
FROM:
DATE:
RE:
Steve Atkins, City Manager
Chris O'Brien, Parking Manager
December 29,2005
FY07 Rate Increases
Following is a summary of the proposed rate increases to begin July 1, 2006. They are
shown by location.
Capitol Street Garage
. Increase hourly parking rate from .60 per hour to .75 per hour
. Increase parking permit rate from $70.00 per month to $75.00 per month
Dubuque Street Garage
. Increase hourly parking rate from .60 per hour to .75 per hour
. Increase parking permit rate from $60.00 per month to $65.00 per month
Tower Place Garage
. Increase hourly parking rate from .60 per hour to .75 per hour
. Increase parking permit rate from $70.00 per month to $75.00 per month
. Increase lower level permit rate from $75.00/month to $80.00/month
Chauncey Swan Garage
. Increase hourly parking rate from .50 per hour to .60 per hour
. Increase parking permit rate from $55.00 per month to $60.00 per month
On-street parking meters, off.street parking meters and off-street lots
. Increase .60 per hour parking meters rates to .75 per hour
. Increase.40 per hour parking meters rates to .50 per hour
. Increase parking permit rate from $55.00 per month to $60.00 per month
Cc: Joe Fowler
Mark Fay
Mark Rummel