SCC Item 2 2024 Budget, Tax Levy, and Capital Improvement Plan Review
City of Otsego│13400 90th Street NE, Otsego, MN 55330│Tel. (763) 441-4414 Fax (763) 441-9163
TO: Mayor and City Council
FROM: Adam Flaherty, City Administrator & Finance Director
DATE: August 28, 2023
SUBJECT: Budget Meeting #4
On Monday, Council and staff will continue review the draft 2024 General Fund budget.
Please note that staff is seeking Council input during this budget review meeting to move the budgeting
process forward effectively and efficiently. I have developed an outline of discussion topics below.
Previous Meeting
At the budget meeting on August 21, 2023, the City Council and staff were able to complete the initial
review of the draft expenditure budgets for each department within the General fund. Due to time
constraints, the draft revenue budgets and property tax levies were not able to be completed.
Revenues
The primary source of revenue within the General fund is property tax dollars which account for 68% of
budgeted revenues. An increase of $1,158,000 (21.58%) in property tax levy is being proposed within the
draft budget. The details of these revenues will be reviewed by staff and Council during this budget
meeting.
Fund Balance Policy – Calculation of Transfer
The unassigned fund balance from year-end 2022 is $4,300,321, or 45% of the draft general fund budget for
2024. The City’s fund balance policy outlines that the ending fund balance in the General Fund should be
45% of the subsequent year’s budget. The policy further outlines that any balance more than the defined
45% minimum can be transferred to a capital reserve fund at the Council’s discretion. This transfer is
calculated to be $710,829 and will be reviewed by the City Council. The pending net fund balance after the
transfer is $3,589,492, or 38% of the draft general fund budget for 2024.
Property Tax Levy
The Council and staff reviewed the debt service and tax abatement components of the property tax levy
during a June special City Council budget meeting. Attached with the packet for this meeting is an updated
levy summary and forecast of future year levies. Staff will review and explain any changes that have
occurred since the June review. Staff will be seeking Council consensus at each meeting regarding the
direction of the preliminary property tax levy amount.
City of Otsego│13400 90th Street NE, Otsego, MN 55330│Tel. (763) 441-4414 Fax (763) 441-9163
Council Roundtable
This is an opportunity for the Council to express their current view on the budgets as presented thus far
and to discuss any recommended changes to the preliminary budgets and tax levies.
Next Steps
The Council will need to adopt the preliminary property tax levy, which is the maximum amount the City
can levy for taxes payable 2024. This action will take place at a regular Council meeting, on the 25th of
September. It should be noted that the preliminary property tax levy is the amount used for truth-in-
taxation notices that are sent to the taxpayers by Wright County.
The final budget and property tax levy will not be adopted by the City Council until December. Changes to
the budget can still be made between now and then but increases to expenditures become difficult
because the primary revenue source to pay for those increases is property taxes. The property tax levy can
be decreased between now and then, but the levy cannot be increased.
Staff is seeking direction from the City Council on how they would like to proceed.
Materials Attached for Discussion
1) Draft General Fund Revenue Details
2) Draft General Fund Summaries
3) Property Tax Levy Summary for Payable 2024
4) Property Tax Levy Forecasts for Future Years
City of OtsegoGeneral Fund Budget - 2024Requested BudgetRevenues21.58% Tax Levy IncreasePreliminaryActual Actual Year-to-Date Budget BudgetFund Source Account Description 2021 2022 2023 2023 2024 Comments101 31010 CURRENT AD VALOREM TAXES 4,594,438$ 4,945,354$ 2,919,914$ 5,366,000$ 6,524,000$ 101 31011 UNCOLLECTED PROPERTY TAXES - - - (53,450) (64,264) Recent collection rates have been 99%101 31020 DELINQUENT AD VALOREM TAXES 1,579 76,119 65,144 40,000 50,000 ~ 50% of 12/31/2022 Delinquent Taxes ($104,376)101 31900 PENALTIES AND INTEREST (3,493) 1,758 1,132 2,000 2,000 TOTAL - TAXES 4,592,524 5,023,231 2,986,190 5,354,550 6,511,736 101 38050 CABLE TV FRANCHISE FEES 129,467 133,218 33,099 133,000 133,000 Annualized - Based on Most Recent 4 QuartersTOTAL - CABLE FRANCHISE FEES 129,467 133,218 33,099 133,000 133,000 101 32100 BUSINESS LICENSES/PERMITS 13,498 7,639 2,045 7,000 7,000 Estimate Based on Prior Year Actuals101 32130 FIRE INSPECTIONS - - 100 - - 101 32140 RENTAL INSPECTION FEES 46,923 38,115 28,845 40,000 43,700 Based on 2021 - 2022 Actuals & 2023 YTD Monthly Average101 32150 PUBLIC UTILITIES ROW PERMITS 93,540 71,818 28,600 60,000 60,000 Based on 300 Permits at $200 Each101 32180 OTHER LICENSES/PERMITS 2,030 3,310 3,205 2,000 3,000 Includes: Fowl Keeping, Gambling, Etc.101 32190 FENCING PERMITS 10,302 9,900 6,050 10,200 10,000 Based on 2021 - 2022 Actuals & 2023 YTD Monthly Average101 32210 LIQUOR LICENSES 37,050 34,350 34,025 34,200 33,950 Based on 2023 Licensed Operations (Provided by City Clerk)101 32250 SIGN PERMIT700 450 650 600 600 Estimate Based on Prior Year Actuals10132260 BUILDING PERMITS1,991,481 1,726,972 831,251 1,332,248 1,296,640 277 Permits at $4,320 (Avg Permit + Plan Review) + $100,000 C/I101 32261 PLUMBING PERMITS146,403 98,237 44,956 93,257 90,765 Based on 3 Year Average as Compared to Building Permits (7%)101 32262 MECHANICAL PERMITS155,561 107,319 50,873 93,257 90,765 Based on 3 Year Average as Compared to Building Permits (7%)101 32270 SEPTIC SYSTEM PERMITS7,900 4,750 2,050 5,000 5,000 Estimate Based on Prior Year Actuals101 32999 ASSESSORS FEE24,200 20,950 9,850 17,760 16,620 277 Permits at $60TOTAL - LICENSES & PERMITS2,529,588 2,123,810 1,042,499 1,695,523 1,658,040 101 33402 HOMESTEAD CREDIT9,357 9,706 - 9,300 9,700 Agricultural MV Credits - Based on Prior Year Actuals101 33403 LOCAL GOVERNMENT AID- - - - 73,598 101 33405 POLICE AID76,180 83,738 - 83,000 83,000 Estimate Based on Prior Year Actuals101 33422 OTHER STATE AID GRANTS- 10,788 - - 249,664 Public Safety Aid Allocation101 33424 OTHER GRANTS2,500 3,500 1,715 - - TOTAL - INTERGOVERNMENTAL88,037 107,731 1,715 92,300 415,962 101 34050 ADMINISTRATIVE FEES124,656 172,585 43,100 45,000 45,000 Development Contract Administration - Only Receive if Developments Occur101 34103 ZONING AND SUBDIVISION FEES25,300 16,120 6,700 19,800 18,400 Based on 2021 - 2022 Actuals & 2023 YTD Monthly Average101 34107 ASSESSMENT SEARCH FEES25,155 17,505 9,440 26,505 19,000 Based on 2021 - 2022 Actuals & 2023 YTD Monthly Average (95%)101 34201 MINING FEES29,277 - - - - 101 34207 REIMBURSABLE EXPENSE MOWING- 600 2,400 - - 101 34302 STREET & TRAFFIC CONTROL SIGNS55,000 73,750 3,750 31,250 31,250 Accounts for 125 Signs Installed by City Staff in New Developments101 34305 CLEAN UP DAY EVENT8,000 5,573 7,148 6,000 7,000 Estimate Based on Prior Year Actuals101 34320 STREET LIGHT OP15,500 26,250 4,000 13,000 10,000 New Development Street Lights - Only Receive if Developments Occur101 34330 GRADING REVIEWS63,311 49,874 19,000 44,400 41,550 277 Permits at $150 (Offsets Grading Review Costs in Building Department)101 34700 RECREATION FEES45,489 68,891 56,032 52,000 55,000 Estimated by Parks and Recreation (8/8/2023)101 34701 PARK MEMORIALS225 3,200 500 1,000 1,000 Estimated by Parks and Recreation (8/8/2023)101 34710 SHELTER RENTAL FEES3,890 5,179 4,029 3,500 4,000 Estimated by Parks and Recreation (8/8/2023)101 34740 SPORT FIELD USE5,915 9,400 1,275 2,500 3,000 Estimated by Parks and Recreation (8/8/2023)101 34750 PRAIRIE CENTER3,175 4,555 3,310 2,500 3,000 Estimated by Parks and Recreation (8/8/2023)101 34760 OTSEGO FESTIVAL VENDORS19,595 21,770 18,620 21,321 21,100 Budgeted Expenditures (101-45250-490), less City Contribution ($5,000).TOTAL - CHARGES FOR SERVICES424,487 475,251 179,304 268,776 259,300 Account Number
Actual Actual Year-to-Date Budget BudgetFund Source Account Description 2021 2022 2023 2023 2024 CommentsAccount Number101 36100 SPECIAL ASSESSMENTS5,732 3,963 3,495 4,400 4,400 Estimated at 50% Collection of 2022 Certified Code EnforcementTOTAL - SPECIAL ASSESSMENTS5,732 3,963 3,495 4,400 4,400 101 35101 FINES & FORFEITS27,461 31,812 17,991 24,000 30,900 Based on 2021 - 2022 Actuals & 2023 YTD Monthly AverageTOTAL - FINES & FORFEITURES27,461 31,812 17,991 24,000 30,900 101 36210 INTEREST EARNINGS68,586 70,530 1,592,086 76,000 106,920 2023 YTD Interest, Annualized Into 2022 Allocation Formula & Rounded101 36213 NET CHANGE IN INVESTMENT FMV(115,070) (210,150) 81,209 - - Accounting Only - No Cash TransactionsTOTAL - INVESTMENT INTEREST(46,484) (139,620) 1,673,295 76,000 106,920 101 36200 MISCELLANEOUS REVENUES3,212 4,582 7,051 2,500 5,000 101 38010 HPC BOOK SALES21 - - - - 101 38020 DONATIONS/CONTRIBUTIONS500 1,472 686 - - 101 38991 REFUNDS & REIMBURSEMENTS14,917 12,267 11,466 5,000 12,500 101 39101 SALES OF GENERAL FIXED ASSETS- - 1,359 - - TOTAL - MISCELLANEOUS18,651 18,321 20,561 7,500 17,500 101 39200 INTERFUND OPERATING TRANSFERS243,100 293,500 320,600 320,600 422,000 Water & Sanitary Sewer Administrative Services ChargeTOTAL - INTERFUND TRANSFERS243,100 293,500 320,600 320,600 422,000 Grand Total8,012,563$ 8,071,216$ 6,278,750$ 7,976,649$ 9,559,758$ Change ($) 1,583,109 Change (%)19.85%
City of OtsegoGeneral Fund Budget - 2024Requested BudgetRevenue & Expenditure SummaryRequestedActual Actual Year-to-Date Budget Budget2021 2022 2023 2023 2024 $ Change % ChangeRevenuesTaxes 4,592,524$ 5,023,231$ 2,986,190$ 5,354,550$ 6,511,736$ 1,157,186$ 21.61%Cable Franchise Fees 129,467 133,218 33,099 133,000 133,000 - 0.00%Licenses & Permits 2,529,588 2,123,810 1,042,499 1,695,523 1,658,040 (37,483) -2.21%Intergovernmental 88,037 107,731 1,715 92,300 415,962 323,662 350.66%Charges for Services 424,487 475,251 179,304 268,776 259,300 (9,476) -3.53%Special Assessments 5,732 3,963 3,495 4,400 4,400 - 0.00%Fines & Forfeitures 27,461 31,812 17,991 24,000 30,900 6,900 28.75%Investment Interest (46,484) (139,620) 1,673,295 76,000 106,920 30,920 40.68%Miscellaneous 18,651 18,321 20,561 7,500 17,500 10,000 133.33%Interfund Transfers 243,100 293,500 320,600 320,600 422,000 101,400 31.63%Subtotal8,012,563 8,071,216 6,278,750 7,976,649 9,559,758 1,583,109 19.85%ExpendituresGeneral Government 1,358,501 1,574,088 1,070,612 1,783,425 2,180,298 396,873 22.25%Public Safety 2,879,409 3,080,380 2,109,914 3,406,291 4,075,212 668,921 19.64%Public Works 1,287,787 1,503,870 1,025,477 1,737,828 2,054,987 317,159 18.25%Culture & Recreation778,621 857,848 543,399 935,745 1,144,301 208,556 22.29%Economic Development91,248 91,728 53,986 113,360 104,960 (8,400) -7.41%Interfund Transfers2,434,846 1,266,290 - - - - 0.00%Subtotal8,830,410 8,374,204 4,803,388 7,976,649 9,559,758 1,583,109 19.85%Net Change in Fund Balance(817,848)$ (302,988)$ 1,475,362$ (1)$ (0)$ Description
City of OtsegoProperty Tax Levy CalculationsPayable 2024Revised: August 17, 2023$% $% $% $%2022 2023 2024 Change Change 2024 Change Change 2024 Change Change 2024 Change Change CommentGeneral Revenues 5,009,000 5,366,000 6,524,000 1,158,000 21.58% 6,524,000 1,158,000 21.58% 6,524,000 1,158,000 21.58% 6,524,000 1,158,000 21.58%Tax Abatements 40,228 74,668 91,181 16,513 22.12% 91,181 16,513 22.12% 91,181 16,513 22.12% 91,181 16,513 22.12%Debt ServiceSeries 2010B - - - - - - - - - - Series 2018A 97,187 94,416 102,144 7,728 102,144 7,728 102,144 7,728 102,144 7,728 Series 2020A 450,000 450,000 197,000 (253,000) 197,000 (253,000) 197,000 (253,000) 197,000 (253,000) City Campus - Phase 1 - - 2,397,901 2,397,901 2,397,901 2,397,901 2,397,901 2,397,901 2,397,901 2,397,901 Will Discuss Alternative Levy ApproachesSub-total 547,187 544,416 2,697,045 2,152,629 395.40% 2,697,045 2,152,629 395.40% 2,697,045 2,152,629 395.40% 2,697,045 2,152,629 395.40%Capital ReservesPavement Management 1,100,000 1,100,000 1,000,000 (100,000) 1,000,000 (100,000) 1,000,000 (100,000) 1,000,000 (100,000) Trails Management 63,000 65,000 70,000 5,000 70,000 5,000 70,000 5,000 70,000 5,000 Parks Equipment 64,000 70,000 400,000 330,000 400,000 330,000 400,000 330,000 400,000 330,000 Capital Equipment Revolving 320,000 477,325 550,393 73,068 550,393 73,068 550,393 73,068 550,393 73,068 Fire Reserve 200,000 210,000 210,000 - 210,000 - 210,000 - 210,000 - Will Discuss Whether to Continue this LevyStorm Water 36,000 38,000 40,000 2,000 40,000 2,000 40,000 2,000 40,000 2,000 Capital Improvements 1,175,590 1,349,614 - (1,349,614) - (1,349,614) - (1,349,614) - (1,349,614) City Buildings & Property 30,000 35,000 35,000 - 35,000 - 35,000 - 35,000 - Sub-total 2,988,590 3,344,939 2,305,393 (1,039,546) -31.08% 2,305,393 (1,039,546) -31.08% 2,305,393 (1,039,546) -31.08% 2,305,393 (1,039,546) -31.08%Increase / (Decrease) for Levy Model - (812,242) (1,667,026) (1,723,287) Grand Total 8,585,005 9,330,023 11,617,619 2,287,596 24.52% 10,805,377 1,475,354 15.81% 9,950,593 620,570 6.65% 9,894,332 564,309 6.05%Growth (%) 9.66% 8.68%Tax Capacity 25,254,743 32,075,441 37,147,522 37,147,522 37,147,522 37,147,522 1% of Local Board of Appeal EstimateGrowth (%) 10.40% 27.01% 15.81% 15.81% 15.81% 15.81%Net Tax Capacity 24,852,871 31,550,432 36,539,493 36,539,493 36,539,493 36,539,493 98.87% of Tax Capacity (Based on 2023)Growth (%) 10.01% 26.95% 15.81% 15.81% 15.81% 15.81%Tax Rate 34.545 29.572 31.795 29.572 27.232 27.078 Population 19,966 21,289 22,705 22,705 22,705 22,705 Source = MN State DemographerTax Levy Per Capita 430 438 512 476 438 436 2022 2023 2024 2024 2024 2024Estimated Estimated Estimated Estimated Estimated EstimatedResidential Value City Tax City Tax City Tax Change ($) Change (%) City Tax Change ($) Change (%) City Tax Change ($) Change (%) City Tax Change ($) Change (%)200,000 624 535 575 535 492 489 300,000 1,001 857 921 857 789 785 403,700 *Median Value 1,391 1,191 1,281 90 7.52% 1,191 (0) 0.00% 1,097 (94) -7.91% 1,091 (100) -8.43%500,000 1,727 1,479 1,590 1,479 1,362 1,354 600,000 2,159 1,848 1,987 1,848 1,702 1,692 700,000 2,591 2,218 2,385 2,218 2,042 2,031 800,000 3,023 2,588 2,782 2,588 2,383 2,369 900,000 3,455 2,957 3,179 2,957 2,723 2,708 1,000,000 3,886 3,327 3,577 3,327 3,064 3,046 Calculated by the Finance DirectorBudget Meeting #4 (8-28-2023) Maintain 2023 Tax RateMaintain 2023 Tax Per CapitaReflect New ConstructionLevy DescriptionY:\Budget\2024\Property Taxes\Tax Levy Calculations (2024)8-28
City of OtsegoGeneral Fund Budget - 2024Expenditures by Function SummaryRequested AmountsRequestedActual Actual Year-to-Date Budget Budget2021 2022 2023 2023 2024 $ Change % ChangeGeneral Government41100 City Council 101,316$ 81,634$ 62,115$ 146,006$ 151,566$ 5,560$ 41320 City Administrator 177,952 194,990 120,925 219,781 232,149 12,368 41400 Administration 303,530 318,818 206,506 354,007 464,345 110,338 41410 Elections 1,955 59,173 2,400 2,700 88,274 85,574 41550 Assessing 139,898 151,608 161,020 166,875 164,370 (2,505) 41600 Finance 268,090 304,668 205,146 339,462 412,790 73,328 41650 Information Technology 85,845 113,500 83,304 142,546 234,958 92,412 41700 Legal35,960 25,942 17,025 61,200 36,800 (24,400) 41800 Human Resources75,656 123,539 80,847 150,358 180,135 29,777 41940 Prairie Center44,492 52,898 29,546 57,107 61,354 4,247 41945 City Hall & Public Works Building120,616 143,578 99,008 140,083 149,857 9,774 41950 Old Township Site 3,192 3,739 2,769 3,300 3,700 400 Subtotal1,358,501 1,574,088 1,070,612 1,783,425 2,180,298 396,873 22.25%Public Safety42100 Police Services1,457,521 1,500,296 941,323 1,607,188 2,052,077 444,890 42150 Public Safety Commission 843 600 42 1,460 1,460 - 42200 Fire Protection769,133 941,074 882,333 1,156,264 1,403,803 247,539 42410 Building Safety619,898 609,644 274,917 612,155 581,947 (30,208) 42500 Emergency Management 9,092 6,572 539 9,825 13,825 4,000 42710 Animal Control 22,920 22,195 10,760 19,400 22,100 2,700 Subtotal2,879,409 3,080,380 2,109,914 3,406,291 4,075,212 668,921 19.64%Public Works43100 Streets841,718 971,876 671,324 1,120,124 1,300,980 180,856 43150 Engineering 63,697 60,635 27,972 72,000 105,220 33,220 43160 Street Lights 157,353 167,245 101,590 177,280 182,480 5,200 43240 Fleet Management 225,018 304,114 224,592 368,424 466,307 97,883 Subtotal1,287,787 1,503,870 1,025,477 1,737,828 2,054,987 317,159 18.25%Culture & Recreation45200 Park Maintenance530,130 565,164 384,032 646,420 803,604 157,184 45250 Recreation 247,289 291,298 159,243 286,025 337,397 51,372 45300 Heritage Preservation Commission631 614 21 1,840 1,840 - 45350 Parks & Recreation Commission570 772 102 1,460 1,460 - Subtotal778,621 857,848 543,399 935,745 1,144,301 208,556 22.29%Economic Development46530 Planning Commission1,909 1,503 51 2,500 2,500 - 46570 Planning78,318 86,678 49,341 95,550 87,150 (8,400) 46580 Economic Development11,021 3,548 4,594 15,310 15,310 - Subtotal91,248 91,728 53,986 113,360 104,960 (8,400) -7.41%Interfund Transfers49300 Interfund Transfers2,434,846 1,266,290 - - - - Subtotal2,434,846 1,266,290 - - - - #DIV/0!Grand Total8,830,410$ 8,374,204$ 4,803,388$ 7,976,649$ 9,559,758$ 1,583,109$ 19.85%Function & Department
City of OtsegoProperty Tax Levy CalculationsFuture Tax LeviesRevised: August 17, 2023Preliminary2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 CommentsGeneral Revenues 5,366,000 6,524,000 6,850,200 7,192,710 7,552,346 7,929,963 8,326,461 8,742,784 9,179,923 9,638,919 10,120,865 Annual Increase of 5%Tax AbatementsGateway North - - - - - - - - - - - Tax Abatements (Gateway North)Parkview Retail 74,668 91,181 91,181 91,181 91,181 91,181 91,181 91,181 91,181 91,181 91,181 Tax Abatements (Parkview Retail)74,668 91,181 91,181 91,181 91,181 91,181 91,181 91,181 91,181 91,181 91,181 Debt ServiceSeries 2010B - - - - - - - - - - - Series 2018A 94,416 102,144 104,308 106,313 113,412 114,946 9,232 12,592 10,544 13,662 11,365 Debt Expires = 2034 / Final Levy = 2033Series 2020A 450,000 197,000 197,000 197,000 197,000 - - - - - - Debt Expires = 2028 / Final Levy = 2027City Campus - Phase 1 - 2,397,901 2,397,596 2,398,056 2,369,665 2,397,762 2,400,597 2,401,731 2,400,500 2,400,731 2,402,075 Future Bond Issuance (20 Year Bond)City Campus - Phase 2 - - - - - - - - 631,084 631,084 631,084 Future Bond Issuance (20 Year Bond)Fire Station - - 1,210,202 1,212,918 1,213,884 1,214,094 1,213,548 1,212,246 1,209,868 1,210,981 1,210,065 Future Bond Issuance (20 Year Bond)Sub-total 544,416 2,697,045 3,909,106 3,914,287 3,893,961 3,726,802 3,623,377 3,626,569 4,251,996 4,256,458 4,254,589 Capital ReservesPavement Management 1,100,000 1,000,000 950,000 900,000 850,000 800,000 750,000 700,000 650,000 600,000 550,000 Gradual Decline due to Franchise FeesTrails Management 65,000 70,000 75,000 80,000 85,000 90,000 95,000 100,000 105,000 110,000 115,000 Increase $5,000 AnnuallyParks Equipment 70,000 400,000 405,000 410,000 415,000 420,000 425,000 430,000 435,000 440,000 445,000 Increase $5,000 AnnuallyCapital Equipment Revolving 477,325 550,393 571,210 611,626 639,222 675,900 701,515 757,104 761,187 807,647 826,684 Based on Annual Equipment DepreciationFire Reserve 210,000 210,000 - - - - - - - - - Increase $10,000 Annually Until Station BuiltStorm Water 38,000 40,000 42,000 44,000 46,000 48,000 50,000 52,000 54,000 56,000 58,000 Increase $2,000 AnnuallyCapital Improvements 1,349,614 - - - - - - - - - - Evaluate AnnuallyCity Buildings & Property 35,000 35,000 40,000 45,000 50,000 55,000 60,000 65,000 70,000 75,000 80,000 Increase $5,000 AnnuallySub-total 3,344,939 2,305,393 2,083,210 2,090,626 2,085,222 2,088,900 2,081,515 2,104,104 2,075,187 2,088,647 2,074,684 Grand Total 9,330,023 11,617,619 12,933,697 13,288,804 13,622,710 13,836,846 14,122,534 14,564,638 15,598,287 16,075,205 16,541,319 Net Tax Capacity 31,550,432 36,539,493 38,001,073 39,521,116 41,101,961 42,746,039 44,455,881 46,234,116 48,083,481 50,006,820 52,007,093 Annual Capacity Increase of 4%Growth (%) 26.95% 15.81% 4.00% 4.00% 4.00% 4.00% 4.00% 4.00% 4.00% 4.00% 4.00%Tax Rate 29.572 31.795 34.035 33.625 33.144 32.370 31.768 31.502 32.440 32.146 31.806 Increase/(Decrease) to Maintain Tax Rate (812,242) (851,373) 162,241 197,646 330,772 267,786 122,797 (451,063) 147,013 176,894 Levy DescriptionProjectionsY:\Budget\2024\Property Taxes\Tax Levy Calculations (2024)FUTURE LEVIES