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2009 City of Savage Truth in Taxation presentation
- 1. City of Savage Public Hearing Proposed Property Tax Levy & Budget for 2009 December 1, 2008 7:00 p.m.
- 6. Prior Lake – Savage School District (ISD 719) November Referendum Not Reflected On Proposed Property Tax Statements – Add In New 2009 Levy $$ $182 $897 -$715 $500,000 $164 $808 -$644 $450,000 $146 $718 -$572 $400,000 $127 $628 -$501 $350,000 $109 $538 -$429 $300,000 $91 $449 -$358 $250,000 $73 $359 -$286 $200,000 Net Change New 2009 Levy Expired 2008 Levy Market Value
- 10. Tax Levy and Tax Rate 2009 proposed tax levy increases by $766,691 which is 5.17% over the 2008 levy amount and the tax rate decreases by 2.35%.
- 12. Savage’s Tax Rate History The proposed tax rate for 2009 is 46.005%, this is the second consecutive year with a rate decrease. Since 2007 the total decrease is 4.15%.
- 13. Property Tax Levy Rate Comparison Scott County Cities
- 15. City of Savage Average Taxable Home Value 2005 - 2009
- 16. Impact on the Homeowner The City’s tax base continues to grow, increasing by 1.17% for 2009. The chart above represents the City tax change before the market value increase. The chart below represents the City tax change with the average market value increase.
- 17. City’s Tax and Taxable Home Value – an Example
- 20. City’s Debt Levy History
- 26. Proposed 2009 General Fund Budget Revenues by Major Source
- 27. Proposed 2009 General Fund Budget Expenditures by Major Function
- 28. Proposed 2009 General Fund Expenditure Increases by Major Function Police accounts for 65% of the 2009 budget increase.