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2. Resolution 4511 - Annual Tax Leviesof Kalispell Post Office Box 1997 • Kalispell, Montana 59903-1997 • Telephone (406) 758-7700 • FAX (406) 758-7758 REPORT TO: Mayor Boharski and City Council Members FROM: Amy Robertson, Finance Director Chris Kukulski, City Manager SUBJECT: Mill levy - FY2000 Budget MEETING DATE: October 4, 1999 BACKGROUND: The resolution is adopted annually to provide a levy to fund the City's Budgets for the General Fund, Comprehensive Insurance Fund, Health Insurance Fund, Retirement Fund and G. O. Bond. In addition the City -County Health levy is listed on the resolution. The mill levy is set at the allowed amount per the calculations on forms provided by the Department of Revenue. The levy calculation adjusts the mill value for changes resulting from SB 184 and HB260.The new City levy is 114.25 mills. The County Health Department levy is 4.40 (provided by the County). Attached is the completed worksheet which shows the effects of the SB 184 tax legislation. The work sheet begins with the prior year certified mill levy which anticipated $2,358,643 in revenue for the City's milled funds in FY99. This worksheet takes into account the HB260 effect which is related to the motor vehicle tax. HB 260 lowers the 2% tax to 1.4% effective January Is'. This results in a revenue loss of $33,794 for the fiscal year ('/2 year impact). The calculations also factor in the HB20 and SB417 personal property reimbursements which we have been receiving and which are being phased out at 10% a year. Those losses of revenue are offset with SB 184 reimbursements ($48,970) to arrive at the Adjusted Property Tax Revenue Assessed- (6) on the worksheet. This would be the number which is the amount of tax revenue our new mill levy can assess to remain at the same level as last year. The calculations continue using the new taxable value ($21,339 provided by DOR) which has to be adjusted for Newly Taxable Property to bring it back to the same level as last year. The newly taxable property includes construction and annexations. The result is that a mill levy of 114.25 is required to provide the previous year adjusted property tax revenue(6). See worksheet. The 114.25 mill levy will provide additional revenue to the extent of Newly Taxable Property. The Council has the option of lowering the levy. However, the levy which you adopt becomes your new revenue cap. The additional money generated by annexations and new construction will be paid by those property owners. Revenue from newly taxable property may be in increment districts. The State was unable to supply the breakdown to the districts. Any additional revenue from newly taxable property will be split on the mill levy. It would be my recommendation that the City maintain the levy at 114.25 which would leave the General Fund with a 16% reserve. Individual tax bills may be up or down depending upon their taxable valuation. I would like to note that the Prior Year Mill levy which was to generate $2,358,643 (111.16 mills times $21,218) actually only provided $2,254,275. That is the amount the County billed out on behalf of the City. This happens because the mill value changes as people go through the appeal process. So you see that we may or may not benefit from newly taxable property. I do think because we received our values so late in the year that there will not be a substantial change this year. Levy information is due to the County on Thursday. I also want you to be aware of the further impacts of tax legislation which will go into effect next year. Personal property, business and commercial, rates will decline from 6% to 3%. Any business whose personal property market value after depreciation is $5,000 or less will be completely dropped from the tax roll. This is good news for commercial tax payers but not necessarily good news for the City if those costs are passed along to the homeowners. Of more concern is the change in rates for utilities. Tax rates for electric, phone, gas, and telecommunications (class 9 property) will drop from 12% to 6%. The class nine property in the City is currently valued at a market value of $37 million which will provide approximately $511,000 in tax revenue this year (market value x 12% x .11425 mills). We could see a drop of $250,00 next year. The County assessor has indicated that there is no additional provision for reimbursements to local government. We will see the impacts of HB260 on motor vehicle revenue for a full year. The HB20 and SB417 reimbursements will decline 10% per year until they are gone. The SB 184 reimbursements are for this fiscal year and 2001 only. Do consider the long range needs of the City with growth to both the north and south when considering the levy. As our service area expands so do our costs. Please call me anytime Monday if you need further information. RECOMMENDATION: Adoption of Resolution 4511 setting the mill levy at 114.25 for the City and 4.40 for the City -County Health Department.. FISCAL EFFECTS: Levy will generate $2,437,980 in tax revenue for the City and $93,887 Revenue to fund the Health Department. ALTERNATIVES: As suggested by Council. Amy H. Robertson Finance Director C " A , r Chris A. Kukulski City Manager RESOLUTION NO. 4511 A RESOLUTION MAKING THE ANNUAL TAX LEVIES FOR THE CITY OF KALISPELL, MONTANA, FOR THE FISCAL YEAR 1999-2000. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF KALISPELL AS FOLLOWS: 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 1999-2000, the following levies: GENERAL FUND 69.54 MILLS COMPREHENSIVE INSURANCE 10.28 if RETIREMENT 14.39 If HEALTH INSURANCE 18.50 it GENERAL OBLIGATION BOND 1.54 If SUBTOTAL 114.25 MILLS CITY/COUNTY DEPARTMENT OF HEALTH 4.40 " TOTAL 118.65 MILLS PASSED AND APPROVED BY THE CITY COUNCIL AND MAYOR OF THE CITY OF KALISPELL THIS 4TH DAY OF OCTOBER, 1999. Wm E. Boharski, Mayor ATTEST: Theresa White City Clerk v Compliance, Valuation & Resolution Montana Department ofREVENUE PO. Box 920 Flathead County, Region 1 Kalispell, Montana 59901-0920 1999 Taxable Valuation Information (in compliance with 15-10-420,MCA) Flathead County Taxing Jurisdiction Kalispell City 1. Total Taxable Value (current year — 1999) $21,338,655 (from line 4, 1999 Certified Mill Levy Form) 2. Total Taxable Value of Newly Taxable Property $757,493 Includes: a. Newly taxable Property Prior to Accounting for Eliminated Property as Identified in TPR Spreadsheet, plus b. Total Taxable Value of Eliminated Property from line 5a. 1999 Certified Mill levy Form Don Hoffman, Randy Wilke, Dolores Cooney - Administrative Team Telephone (406) 758-5921A Fax (406) 758-5671 A Internet Address http://www.state.mt.us/revenue/rev.htm SB 184 PROCEDURE FOR CALCULATING LEVY PROPERTY TAXES ASSESSED IN PRIOR YEAR: Ad Valorem Tax Revenue assessed (previous year) (calculated by DOR 111.16 mills x 21,218 mill value) Add: Light Vehicle Tax Revenue (actual fy99) Less: Light Vehicle Tax anticipated -current year Add: Personal Property Tax reimbursement rec. -prior year (HB20 & S13417) Less: Personal PropertyTax reimbursement anticipated -current year (HB20 & S13417) Less: SB 184 Reimbursement Adjusted Property Tax Revenue Assessed CURRENT YEAR TAX LEVY COMPUTATION: Taxable Value Per Mill Less: Newly taxable property - current year Adjusted Taxable Value per mill Authorized mill levy under SB 184 (includes floating mills) Adjusted Taxable Value per mill Add: Newly taxable property per mill - current year Taxable Value per mill (including newly taxable property) Authorized Mill levy under SB 184 (includes floating mills) Current Property Tax Limitation RECAP: Previous Year Adjusted Property Tax Revenue assessed (6) Amount attributable to newly taxable property Current Property Tax Revenue DOR = Dept. of Revenue Assumption and Comments Certified levy $ 2,358,643 (1) actual fy99 $ 225,282 (3) 85 % of fy99 $ (191,488) $ 33,794 (3) actual fy99 $ 78,268 (4) DOR $ (70,241) $ 8,027 (4) DOR $ (48,970) $ (48,970) (5) $ 2,351,493 (6) DOR $ 21,339 (7) DOR $ (757) $ (757) (8) $ 20,582 (10) 114.25 (11) $ 20,582 (10) DOR $ 757 $ 757 (8) 21,339 (7) (6)/(10) 114.25 (11) J 1)*(7) $ 2,437,980 (12) $ 2,351,493 (6) (11)*(8) $86,487 (13) $ 2,437,980 (12) sbl84calc 9/27/99 EXPLANATIONS: (1) Ad valorem tax revenue is.determined by multiplying the previous year levy by the previous taxable value. Property taxes assessed for net and gross proceeds Is determined by multiplying the previous year mill levy times the previous year taxable value for net and gross proceeds. This deduction is requited under subsection 5 of Section 1 of SB 184. (3) The amount for prior year amounts received can be obtained from the prior year general ledger revenue account for light vehicle taxes (314110). The amount for current year anticipated revenue represents the amount of revenue estimated for the current year. (4) The amount for prior year amounts received can be obtained from the prior year general ledger revenue account for personal property tax reimbursements (335210). The amount for current year anticipated revenue represents the amount of revenue estimated for the current year. (5) Both amounts for the SB 184 reimbursements and the reimbursement under HB 658 will be provided by the Department of Revenue. (6) This amount is the net of (1) through (5) (7) This amount is taken from the certified mill levy information supplied by the Department of Revenue. (8) Newly taxable property is taken from the certified mill levy information supplied by the Department of Revenue. This amount can be determined from the Department of Revenue (county only). (10) This amount is the net amount of taxable value less newly taxable property as defined in SB 184 and net/gross proceeds taxable value. (11) The floating mill is determined by dividing the adjusted taxable value per mill (10) into the adjusted property tax revenue assessed (6). (12) Determined by multiplying the mill levy (11) by the current year taxable value inclusive of newly taxable property(7). 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