1. CITY OF WASECA 2017 Property Tax Levy Based on Recommended Budget Truth In Taxation Meeting
December 6, 2016

2. Budget Goals & Key Objectives
Present balanced general fund budget for 2017.
Present budget which includes Local Government Aid (LGA) as advised by State for 2017 (Increase of $6,602).
Present budget which includes Tax Levy reallocation of $100,000 from decertified Central (#23) Tax Increment Financing district to general fund .
Continue to change and adapt with operations in an effort to control expenses, levies and fees.
Maintain quality City service levels.
Maintain sound fiscal health.
December 6, 2016

3. Budget Process
Departments submitted budgets to Finance Director and City Manager.
Budget discussed at various Council work sessions.
Council set preliminary levy with 5.5% tax levy increase at September 20th Council meeting.
December 6th - Truth-in-Taxation Meeting for Public Comment and Input
December 20th - Council Action: Adopt 2017 Final Budget & Levy
December 6, 2016

4. Recommended Property Tax Levy
2016
2017
5.5% Levy Change
General Levy & Tax Abatement
$3,063,611
$3,204,768
Note: This does not include est $100,000 for TIF
$141,157
Debt Service -
Public Safety Building
7th Ave
Water Park
NE Park
428,115
488,985
60,870
Debt Service (PFA Loan)
181,496
EDA Levy(.01813% MV)
$75,543
$75,639 96
December 6, 2016

5. 2009-2017 Property Tax Levy – 5.5% Levy Increase & Local Government Aid
December 6, 2016

6. Property Value Assessment Timeline for Taxes Payable in 2017
Public
Meetings
December
Value Date
Jan 2, 2016
1st Half
Tax Due
May 15th
* 2nd Half
Tax Due October15th
County Board of Equalization In June
Local
Review
Board
2014
2015
2016
2017
MARCH
April-May Local Review Board
Exact dates Appear on the Valuation Notice
2017 Tax Statements &
2017 Value Notices (For Taxes 2018)
2016 Tax Statements &
2016 Value Notices (For Taxes 2017)
December 6, 2016 6

7. Taxable Dollar Market Value By Property Type
Residential
Commercial
Industrial
Agricultural
Apartment
Other
Total
Total Change
2010
346,671,600
56,643,000
23,206,300
749,200
427,270,100
2011
346,950,600
56,667,600
23,245,300
770,800
427,634,300
364,200
2012
340,420,900
56,308,400
774,293
21,147,300
797,000
442,693,193
15,058,893
2013
327,125,400
56,664,900
22,889,300
783,565
22,195,600
789,800
430,448,565
(12,244,628)
2014
328,122,300
55,883,000
20,847,600
1,321,783
22,393,800
429,358,283
(1,090,282)
2015
307,242,600
54,989,400
27,118,800
1,342,817
25,212,600
793,200
416,699,417
(12,658,866)
2016
307,669,500
55,010,500
27,157,000
1,221,630
25,388,700
754,200
417,201,530
502,113
2017
328,152,200
55,611,800
26,940,900
981,093
28,347,300
722,407
440,755,700
23,554,170
December 6, 2016

8. Percentage of Tax Base By Property Type
Residential
Commercial
Industrial
Agricultural
Apartment
Other
2010
77.09%
12.60%
5.16%
0.17%
4.83%
0.15%
2011
12.59%
5.17%
2012
76.97%
5.26%
0.18%
2013
76.00%
13.16%
5.32%
5.18%
0.16%
2014
76.42%
13.02%
4.86%
0.31%
5.24%
2015
73.73%
13.20%
6.51%
0.32%
6.05%
0.19%
2016
73.75%
13.19%
0.29%
6.09%
2017
74.45%
12.62%
6.11%
0.22%
6.43%
December 6, 2016

9. How are your Taxes Distributed?
December 6, 2016

10. ESTIMATED - Tax Impact to Residential Properties
Sample Average Home Tax Amounts
2016
2017
Difference
County
$480.32
$499.96
$19.64
City
$712.05
$731.81
$19.76
School
$334.04
$400.65
$66.61
Others
$29.59
$29.58
($.01)
Total
$1,556.00
$1,662.00
$106.00
December 6, 2016

11. Final Steps Truth In Taxation Meeting(Tonight)
Council Provides Final Direction to Staff
December 20th Council Meeting
Resolution to Adopt the Final Tax Levy
Resolution to Adopt the 2017 City of Waseca Budget
December 6, 2016

12. Conclusions/Questions
Market Value Questions?
Contact Waseca County (507)
Future Questions about City’s Budget & Tax Levy?
Contact Finance Director
Shelly Kolling (507)
December 6, 2016