HomeMy WebLinkAboutSupplemental Attachments - 3/4/2024 2/29/2024
FY2025 PROPOSED LEVY RATES
CITY OF WATERLOO, IOWA
March 4, 2024s ..
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FY2025 Proposed
Levy Rates
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2/29/2024
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.... ... .•• .. •'.................................. .:;•�•:•:qq::y�:,a:::?::•..........:'19555:.:•:.:•:.........'3491000
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able Lnla:•................. .. ....... ......
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tymr eem CprB mewl p&thandyueROTrsmA 1,8a,3j,3 ....0
207
fID9 oimn Putlim NIK lY(under XG.SfIM\t5) r P ..: .... 4
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,, M.. Llabi0Y,Weatf,8 Wf%marce ants u 25354J4 : 345195e.:m 9t,.ue!sp
ssw w.. suoovt Of e Local Enep.Mrm.Comm, Na50.xs':::•:. 1 . .h094p1
....41 ..:1.:::::::. ::.•:.
yl Vdetl CNr Pmnieetle lcAa :................ ..... ........... ..............
ILL ,mw llnflb Lev Enlucunenl V .m ..y ... ... -.....
Total General Fuca acauar Leman 16 t11ru 341 , 24.eS:.72:::'.':: ....... NC®.43J.':•::•:::•l:':::•:::::::
Ll son blfM n N92B M82Q 93C1T15
Total General Fund Tex Levlea ,26 a381 N11A3040 '::F _...I
SPrid Feve,ua Levies _
W ,y„y PNee 6 F,e Peli,e,MMr 5031 526 ': 1 B]1131P t211U.
Amos FICA bIPERS Of general Nail levy WA) a „-. 2511626, : 2418434 FtP?aa
pd arnw ones EmPbYrs Bret s, ___ Iz o2a 0.t8 : 118451/ ss I9,'
Taal Employee Benefit Levies 1]890.911 v 10591991.': le so137'::v... .. 15138
Valuation
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Total Special Revenue Levies se 19591,519$ ::. 189et 6r5 ': ....
gy. ..w. Debt Service Levy 74.10151 u...... 94GS,w8 ,,,, 9100,8C.I m p..2
0094
ey ease Capital Prolate (Capital ImPrm..Reserve) a .._. ......0 .t ................... .....it _...a
Total Properly Taxes 127E39510+411 a 53%1590 a 52J15F+e:'i:., S2710718
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,-- CITY OF Waterloo ADOPTED BUDGET SUMMARY
YEAR ENDED JUNE 30,2026 Fiscal Years
TIF
SPECIAL SPECIAL DEBT CAPITAL BUDGET RE-ESTIMATED ACTUAL
GENERAL REVENUES REVENUES SERVICE PROJECTS PERMANENT PROPRIETARY 2015 2024 2023
(14 IL-i. .--1 V1- LElf.e ,SF) LG +M1OV. ..19. . P4 tLl
g .*estalMlFYwaerB 1Y V ..nSiA. 5 >?o-me � -
TxLW.....4 I all#3E 18,941612 S t 9.160.E.E6 B y , 1 E>i 45.178924 44.794,609
Lest9esbgagegiresixVal 2 0 C:? 0
0 0
NRpnere"efaTm 3 20116+65 15944615 s L a 9.1E0 DE 0"'u sr sle.Ea6 45178.924 44794.E951
0 )49 R4{a)Tan a 0 C. 0 0 0 0 19.835
TF _ %..,'.1 4a4P4 5 ` i 21.11.7640E 2325 2311E
tenCiotTar 65a6 12E.0317 " 42 0 ? - ' 21.610,ELI 20.590.252 23.171,151
Naas
050S Mal a1P lopry C 111114.5]000`. 56223,55000C 102.000 I10.090
0 '0 1400
02 2
IS1169.T00o0e. 2If02934.2C00 1.43/s.6E
5,11E.512
Mn9euennern 9 2_2_E61 51t9],063 192.19E 349.184 20.000.CC0 2336,520 ]6.503,241 50908.399 30,60412.
Assess,a e 11 13P0000 tl86C05 0 0 7.0 25CM,300 39,510000 38.230T%3 41302001
WaalBsorlavmnr44 11 s]COOP 00µ 0 03 40.00E 5940.27000 704W0 57821,1
6W+eam 12 2.420 57 84.]62 _.20 0 2208.333 e D 11547,120 82105.2849 14,406301
94iaaM1xxn 19 62.s24[bt 83]H4.352 2f.41)2g1, 9128083 R308.9J3 0 21816416 221 N]I2 1821B564t 122406
Tmetotal
T,Flaring haws •1.:,< 1 a`C3 2 ;',l t ..: }.:>
Taal she 14 15;15091 10000 NO C 62CIi02 10,000,000 0 0 41.3%79 %2]605 2506392E
mamma NM 15 0 0 0 0 16,000001Y:1::::T: 3 2T 14,000.000 30.000000 41.316,000 13,6T].i0:
Prce4491E664444110L5 16 85000 0` 0. 0 0 0 5000 90000 90000 300226
Tar Renewsw4 LYa.Braes 17 78294718 92.7023E2, 21437284 15.977,7E5 48308.31 0 4162141E 299423918 9919648 211E1837
Ew4.a...*pa.mammy um N'Se :' ".0.` A '3 ':,t' J ..
pm%Bag 18 39084 2 03728t 2' C 1]$1110 4289:,344.:I;
Pleb Vats 19 2.E252% 27.190.232 0 fi: 0 r ° 44916533 36034563 2 t c E3.
IwL.tesxm4srv+s __ 2C 390.217 0 C 90.511 3Ee 7;iC 3a9Ef2
dLlae r4P4aelm 21 1313E,4 0 0` 3 vc 134.a.13 11'71r.. 11 ETt902
[ammu4La4E,090nlarktEenmi .2 46026T5 1=3339.13E 48T6642s' ' r : 22.018 EEE 21234462 IS43480
23 12701E60 1],4n w s ..^Y}"i -- C sta` 12811.152 12134194 DAM 9E2
e1::3
Cal Picas
0 0 0 16992120 '<Sa. C •
1559212E 52.4124% 27,056.471
24
Cal P,.xs ane - 0 2741115E 2 A.3063 v 0‘ 44.r39614 92.121.4 0 18.0i.«i
Total Basemner rare.E4a44a 28 18e32109 67 012.720 1.670.612 1 992126 '546.33.� 0.3 ,43, 21128.E14 193.121409 16604851E
Total
act 00..Tts cavesa SIaa 28 '32 - 3 43.0589% 43.0549% 61]65232 77.42,R0062
Tat B,xABVTpe FeeaLrea 28 1000000 15.705,020 432f942 n156921I0 83C0330 C 41.9E8,82228]1B6.792 13832?2321e063.014
Tar TumfxeM 29 88.000.000 02720.028 19.1900%22.942 0 0 C 1,01272 29 013 01.211.636 28.06352E
Tsar R aramiL rlrrsnrlea 31 %. 2199 ,+7o' C00 ,_q'85 15842CV12C ,2OSOS .� E 4... BA 32BPi.A Mt2t OP A2 SE
Ewrt21e1*lnGMfwox Ge 31 h C f ,:
IIwlFwsaaerrt aaxs Os II 101.BC1 d9%� 223]699 t437� t0.CC0 C00. P J.3%392 2034712 af39539+ E 100 t3t
by .a.,,FW Blaeal 1 41676611 f1Sa.011 1.4.'C: 1.00. d 1311257 0 22.680 772 11e09o,04 14.391.2915 Il. .f
M%Fad OMan 48.038 34 3?P:"SPI. 2129i91. 792.5 1.G:6es. ,1112557 C 22.54.:0 alr:C.`.15 122095504, 1 22E3E2
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2/29/2024
FY2025 Proposed Levy Rates
Non-Ag Change 13.80%
Ag Change (5.75%)
Tax Rate Comparison-Current VS.Proposed
Residential property with an Current Year Budget Year Percent
actual/assessed value of$100000 Certified 2023/2024 Certified Change
2023/2024
City Regular{ $7,078 $1038 -3.71
Redden
Commercial property with an Current Year Budget Year Percent
Certactual/assessed value of$100,000 Certified 2023/2024 23/20d Change
20023/2024
City Regular $1 078 $1 038 -3,71%
Commando
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FY2025 Proposed Levy Rates
Percentage of
Program Tax Levy Portion Levy
Police and Fire $ 13.46703 60%
Debt Service $ 3.20294 14%
All Other Services $ 5.73721 26%
Total City Levies $ 22.40718 100%B
Total $ 22.40718
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2/29/2024
FY2025 Proposed Levy Rates
Program - Breakout of Other Tax Levy Portion
Building Inspections $ (0.06943)
Public Works $ 0.905955
Health & Social Services $ 0.153796
Culture & Recreation $ 3.60366
Community & Economic Development $ 0.335193
General Government $ 0.80804
Total Other $ 5.737214
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General Fund City Services*
Function Proposed Levy Rate
Expenditures
Public Safety $44.7 million
Public Works $7.6 million
Health&Social Services $0.39 million
Culture&Recreation $13.4 million
Community&Economic $4.6 million
Development
General Government $12.7 million
*Funded primarily by Property Taxes
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2/29/2024
Debt Service Fund
$2,964,100
Bond Interes N °
i>4
Admin Fees
$14,250_
$12,010,000
Bond Principal
For the Year Ending 6-30-2024
With the Proposed Levy Rates, property taxes will fund$9.4 million for
FY2025, and that revenue is restricted for debt repayment.
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How are property taxes calculated?
• County Assessor sets property values
• State sets "roll-back" or the percentage of total
value that is taxable
• State issues "equalization orders" designed to
equalize values of different categories of
property every two years
• Cities, counties and school districts set their
portions of the levy rate
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2/29/2024
How are property taxes calculated?
• The State continues to increase the residential
roll-back, resulting in 46.3428% of a home's value
being taxable for FY2025
• Changes started in FY2024 for Commercial,
Industrial, and Railroad Properties. Those
properties are taxed on the first $150,000 at the
residential rollback rate of 46.3428%. The
remaining amount over the $150,000 will be taxed
at the 90% rollback.
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How is the tax bill on my home determined?
FY2024 FY2025
Certified Proposed
Assessed Value $ 100,000 $ 100,000
Times Rollback 0.546501 0.463428
Equals Taxable Value $ 54,650 $ 46,343
Divide by $1,000 54.6501 46.3428
Times Total Tax Levy Rate $40.18730 $42.86429
Equals Total Tax Bill $2,196.24 $1,986.45
City Portion of Tax Bill $1,078.26 $1,038.41
Projected Annual Incr (Decr) $ 51.32 $ (39.85)
Percentage Incr (Decr) 4.76% -3.84%
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2/29/2024
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u e st i o n s?
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