4. Resolution 5596 - Amends Budget Resolution 5580 - Mill Levy CorrectionCity of Kalispell
Post Office Box 1997 - Kalispell, Montana 59903-1997
Telephone (406) 758-7000 Fax - (406) 758-7758
REPORT TO: Doug Russell, City Manager W
FROM: Rick Wills, Finance Director
SUBJECT: Corrected general levy - FY2013
MEETING DATE: November 5, 2012
BACKGROUND: This resolution is to correct Resolution No. 5580. Resolution no. 5580,
adopted August 201h, 2012, established the fiscal year 2013 general levy to fund the City's budget for the
General fund and Parks fund. The maximum authorized City general levy was calculated at 156.40 mills.
The 156.40 mills calculated did not recognize a reimbursement (S13372) received by the City from the State
of Montana related to the reduced business equipment tax. When this reimbursement is considered, the
correct maximum authorized City general levy is 154.60 mills based upon the calculation of the mill value
provided by the State Department of Revenue and the City's dollar cap. The portion of this levy designated
for the Parks & Recreation department remains 22.4 mills.
RECOMMENDATION: Adoption of Resolution correcting the general mill levy to 154.60, and total
City levy to 185.60.
FISCAL EFFECTS: Reduction of the general levy results in $72,222 less revenue, however, the
SB reimbursement was $69,988 for a net of-$2,234. There is no effect on the Permissive levies.
Rick Wills
Finance Director
Background: Corrected mill levy calculation worksheet
Original mill levy calculation worksheet
2012 Certified Taxable Valuation Information
MIIXI! ; �19�1 I
A RIESOLUTIO
LEVIES FOR THE CITY OF KALISPELL, MONTANA, FOR THE FISCAL YEAR 2012-
2013.
I. to 18 11111906) 11kyj 91
SECTION I. That there is hereby levied upon each and every dollar of the taxable
valuation of the City of Kalispell, Montana, for the fiscal year
2012-2013, the following levies:
MILLS
GENERAL FUND 132.20
Designated for Parks & Recreation 22.40
Total General Levy 154.60
Permissive Levies:
HEALTH INSURANCE 16.90
Health Insurance —designated Parks & Recreation 1.60
Total Health levy 18.50
G. 0. BOND — REFINANCED POOLJFIRE HALL 12.50
TOTAL CITY LEVY — all funds MILLS 185.60
ATTEST:
Theresa White
City Clerk
Tammi Fisher
Mayor
CORRECTED
Mill levy calculation - Dept. of Revenue values
for FY2013
DETERMINATION OF TAX REVENUE AND MILL LEVY LIMITATIONS
UNDER HOUSE BILL 124
MAXIMUM PROPERTY TAXES AUTHORIZED:
Ad valorem tax revenue assessed 2011-2012
Add: FISCAL YEAR 2012 INFLATION ADJUSMENT @ 01.2% Section 94 (1)(a)
70,145
Less: FY13 SB372 Reimbursement through Entitlement Share
Property Tax Revenue Assessed
CURRENT YEAR LEVY COMPUTATION:
Taxable value per mill
Less: Newly taxable property per mill value,
Taxable value per mill (enter as negative)
JAdjusted Taxable value per mill
Authorized mill levy under HB 124
djusted taxable value per mill
Add: Newly taxable property per mill value
Taxable value per mill of net and gross proceeds (co
Taxable value per mill (including newly taxable property)
Authorized mill levy under HB 124 (includes floating mills)
rrent property tax revenue limitation
Previous year adjusted property tax revenue assessed (5)
Amount attributable to newly taxable property
Current property tax revenue
(1,207)
0
1,207
00.
5,845,407
70,145
(69, 988)
5,845,564
39,017
(1,207)
37,810
154.61
37,810
1,207
39,017
154.6
6,032,173
5,845,564
186,609
6,032,173
ORIGINAL
Mill levy calculation - Dept. of Revenue values
for FY2013
DETERMINATION OF TAX REVENUE AND MILL LEVY LIMITATIONS
UNDER HOUSE BILL 124
MAXIMUM PROPERTY TAXES AUTHORIZED:
Ad valorem tax revenue assessed 2011-2012
Add: FISCAL YEAR 2012 INFLATION ADJUSMENT @ 01.2% Section 94 (1)(a)
70,145
5,845,407
70,145
Property Tax Revenue Assessed 5,915,552
CURRENT YEAR LEVY COMPUTATION:
Taxable value per mill ► 39,017
Less: Newly taxable property per mill value,
Taxable value per mill (enter as negative) (1,207) (1,207)
Taxable value per mill 37,810
Authorized mill levy under HB 124 156.46 1
djusted taxable value per mill 37,810
Add: Newly taxable property per mill value 0
Taxable value per mill of net and gross proceeds (co 1,207 1,207
Taxable value per mill (including newly taxable property) 39,017
Authorized mill levy under HB 124 (includes floating mills) 156,46
(Current property tax revenue limitation 6,104,395
RECAPITULATION:
Previous year adjusted property tax revenue assessed (5) 5,915,552
Amount attributable to newly taxable property 188,843
Current property tax revenue 6,104,395
MONTANA
AMLRhVENUE Form A8-72T
Rev.3-lZ
2012 Certified Taxable Valuation Information
Flathead County
CITY (]FKAL!SPELL
1.3OI2Total Market Value ...................................................................................................................... $ 1,450,786,207
J.JO12Total Taxable Value ..................................................................................................................... $ 40,531,328
3.2OI2Taxable Value OfNewly Taxable Property ............................................................................... $ 1
,207,155
4. 2O12Taxable Value less Incremental Taxable Value* ..................................................................... $ 39,016,570
S.2012Taxable Value ofNet and Gross Proceeds
(Class 1and Class 2) ...---.—.--~.-----_.._.~_________.~______ $ -
6.TlFDistricts
Tax Increment Current Taxable Base Taxable Incremental
District Name Value Value Value
—Kalispell B 1386714 453612 933102
Kalispell C- amended3012 8390L756
—,—KalispellH 1992S
Kalispell G 104,409 390 104.0I9
Preparer Holly Dale
Total Incremental Value $ 1,514,758
Date 12
*This value is the taxing jurisdiction's taxable value less total incremental value of all tax increment financing
For Information Purposes Only
2012 taxable value ofcentrally assessed property having a market value of$1 million or more, which has transferred
to different ownership in compliance with 15-I0-303(2), MCA.
i Value Included in "newly taxable" property
11. Total value exclusive of "newly taxable" property