What are the facts? Impact of Budget? How will fees calculated? How will this impact individuals?

Property Tax Scenarios The Budget of the Dam Management District Will be proposed by the Board of Directors Reviewed, approved and/or modified by a vote of the members Method of apportioning will be approved by the members F A C T S Until the process is completed, no one can tell you what the budget will be or how much individual portions will be. However, using some basic mathematics, we can do a few calculations to define the size of the breadbox..

Using a flat rate, we can calculate the impact of various budgets. Property Tax Scenarios Using a flat rate, we can calculate the impact of various budgets. Budget = $15,000 Properties = 322 $15,000 ÷ 322 = $46.58

Identified Projects Done Done Done Done

Property Tax Apportioning A brief explanation of the apportioning alternatives Method 1, Fixed Rate Budget = $ 20,000 No. of Props.= 322 Avg. Annual Fee = $ 62.11 Method 2, Variable Rate: Budget = $20,000   Total Valuation= $90,270,400 Avg. Value= $280,343 ($90,270,400 ÷ by 322) Tax Rate= $ 0.2216 per Thousand ($20,000 ÷ by $90,270,400) X 1,000  Avg. Annual fee = $ 62.11 (280,343 X 0.2216 ÷ by 1,000) This one is linked to the Excel file. With the correct numbers- NOTE… changed wording to “loan” instead of “Bond”… I just spoke with John Mainville: Bonds have an admin cost of $30 to $40K and generally are not used for smaller amount. He suggested that local financing was probably better… Farmers Home for example. I asked him about the 5% assumption He thought that was about right… better credit rating could drive that down to the 3% range. He agreed to try and get me more information and was going to call someone he knows. Leo

Property Tax Apportioning Method 3, Combined 50/50: Budget $ 20,000   Fixed Potion $ 10,000 No. of Propertied 322 Fixed Avg. Fee $ 31.06 Variable Portion Total Valuation $ 90,270,400 Avg. Value $ 280,343 Tax Rate $ 0.1108 per thousand  Variable Avg. Fee $ 31.05  Total Avg. Annual fee = $ 62.11 This one is linked to the Excel file. With the correct numbers- NOTE… changed wording to “loan” instead of “Bond”… I just spoke with John Mainville: Bonds have an admin cost of $30 to $40K and generally are not used for smaller amount. He suggested that local financing was probably better… Farmers Home for example. I asked him about the 5% assumption He thought that was about right… better credit rating could drive that down to the 3% range. He agreed to try and get me more information and was going to call someone he knows. Leo

Remember… How Much Will it Cost Me? The district membership will; Budget & Apportioning Lastly, let me try to address the question that Is burning on everyone’s mind…. How Much Will it Cost Me? Remember… The district membership will; determine the budget determine how apportioning will be done The following are only calculations based on assumptions.

Budget & Apportioning This one is linked to the Excel file. With the correct numbers- NOTE… changed wording to “loan” instead of “Bond”… I just spoke with John Mainville: Bonds have an admin cost of $30 to $40K and generally are not used for smaller amount. He suggested that local financing was probably better… Farmers Home for example. I asked him about the 5% assumption He thought that was about right… better credit rating could drive that down to the 3% range. He agreed to try and get me more information and was going to call someone he knows. Leo

Go to Q&A