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VICTORIA ADOPTS PRELIMINARY 2013 LEVY AND 2013 GENERAL FUND BUDGET On Monday evening, September 10th, city councilmembers prepared for the operation and financing of the City of Victoria through 2013 with the approval of three items: the preliminary 2013 Tax Levy ($3,986,646), the proposed 2013 General Fund Operating Budget ($3,650,730), the 2013 Operating Budget for the Victoria Recreation Center ($1,149,357 which includes a tax levy of $250,000). The words "preliminary" and "proposed" are used because the final levy and budget will not be approved until the evening of Monday, December 10th, the night of the regularly scheduled city council meeting. The preliminary number approved in September cannot be increased in December, but it can be decreased. The tax rate of 39.5% for 2013 is equal to the 2012 tax rate. This means that Victoria taxpayers will be paying a tax of $3.95 per $1,000 in property valuation. The proposed levy and budget compare as follows with last year's numbers:
•Total tax levy in 2012: $4,050,492 •Proposed levy for 2013: $3,986,646
•Adopted 2012 budget: $3,679,005 •Proposed 2013 budget: $3,650,730
The City of Victoria's levy includes three components: the General Fund Levy ($2,893,646), the Recreation Center ($250,000), and the Special Levies for Debt Service ($843,000). Those three components total $3,986,646.
LEVY PROPOSED FOR 2013 General Fund Levy .......................... $2,893,646 Victoria Recreation Center ................. $250,000 Diethelm Park Land Lease ................... $86,800 G.O. 2004 Improvement Bonds ............ $92,700 G.O. 2006 Improvement Bonds .......... $151,300 G.O. 2007 Improvement Bonds .......... $125,200 G.O. 2008 Improvement Bonds .......... $122,000 G.O. 2009 Improvement Bonds .......... $170,000 G.O. 2010 Improvement Bonds ............ $95,000 TOTAL CERTIFIED LEVY $3,986,646
The levy for the Diethelm Park Land pays for the city's lease of the land from the Victoria Economic Development Authority. The EDA (the Victoria City Council, in fact) issued revenue bonds to finance the purchase of Diethelm Park in December of 1998. The bonds will be repaid in full in February of 1018. Each of the six General Obligation Improvement Bonds in the proposed levy is related to the city's 50% share of road reconstruction costs in the various Victoria neighborhoods during the identified years: 2004: Parkside, Smithtown, South Lake Virginia Shores. 2006: Lilac Circle, Hyacinth, Wintergreen, Kirke Lachen, Bayview, 77th Street. 2007: Woodstone Drive, Smithtown. 2008: Baycliffe, 80th Street, Victoria Circle. 2009: Lions Park Area, Hartwood, Downtown Phase II. 2010: Lake Auburn Neighborhood.
As reported by city staff, the preliminary 2013 tax levy of $3,986,646 represents a decrease of 1.5% or $63,846 from the 2012 tax levy. This is the fourth year that the city's tax levy has decreased. Said Mr. Uram, "It has decreased every year since 2009."
BUDGET PROPOSED FOR 2013 General Fund Revenues Property Taxes ................................ $2,921,146 Licenses and Permits ......................... $205,045 Inter-governmental Revenues ............ $127,261 Charges for Services ......................... $356,128 Fines .................................................... $17,050 Miscellaneous Revenue ...................... $24,100 TOTAL REVENUES $3,650,730
The preliminary 2013 city budget revenues ($3,650,730) is a decrease of $28,275 (or about .8%) from the 2012 budget. The preliminary 2013 budget expenditures ($3,620,730) is a decrease of $58,275 (or about 1%) from the 2012 budget. It was pointed out that only the City of Victoria -- among the cities of Carver, Chaska, Chanhassen, Waconia, and Minnetrista -- is seeing a decrease in its budget proposed for 2013.
Click here to continue the Budget.
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October 2012 |
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