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The original item was published from 9/14/2016 12:04:50 PM to 9/29/2016 12:00:01 AM.

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Posted on: September 14, 2016

[ARCHIVED] Preliminary Budget, Tax Levy Approved

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The City Council approved a preliminary property tax levy increase of 5.5 percent for 2017 at its Monday, Sept. 12 meeting. The 5.5 percent increase is now the maximum amount the City Council can raise the 2017 tax levy.

State statute requires cities to adopt a preliminary tax levy and budget by September 30 for the upcoming fiscal year. Once the preliminary levy is adopted it can be lowered, but not increased.

The recommended 2017 budget of $52,110,685 includes $29,417,290 in property tax-supported programs, with $22,693,395 planned for non-property tax-supported items. The total for tax-supported programs represents an increase of $671,800 compared to the 2016 budget. The proposed tax levy increase will also address long term funding gaps in the City’s asset replacement programs of $225,000, as well as offset an expected net reduction of $149,650 in non-tax revenues, including court fines and interest earnings.

The 2017 recommended property tax levy amount required to fund the budget is $19,991,170 which includes both residential and commercial properties in Roseville. It is an increase of $1,046,450 compared to the 2016 levy.

The impact on residents will vary depending on a property’s value and change in value relative to other properties in the city. Based on an expected property value increases, the median-valued Roseville home of $226,800 can expect to pay approximately $75.35 per month at the new rate, an increase of $4.22.

In further action, the City Council also approved a preliminary tax levy on behalf of the Roseville Economic Development Authority (REDA) of $356,585. This translates to a cost of approximately $18.07 annually or $1.51 per month for a median-valued Roseville home.

Residents are encouraged monitor future City Council agendas and participate in the budget process moving forward. The next scheduled discussion on the budget will occur at the October 17 meeting. The City Council will also hold an additional budget-related discussion in November before the final 2017 levy and budget are adopted in December.

The final tax levy and budget for both the City and REDA are required by state statute to be adopted by December 30 for the upcoming fiscal year.

For more information about the 2017 preliminary budget please visit www.cityofroseville.com/budgetinformation.

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