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Addie’s Drawing |
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January 2009 |
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The Victoria GAZETTE |
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City Scoop Continued |
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Councilmember Kim Roden said she’d like to look at other metrics, such as the increase in population and the increase in roads, to see what is driving the increase in tax capacity. Jylan said the city’s tax rate is 37.10% and has been decreasing every year since at least 2002 when it was 45.56%. “The local tax rate is the rate applied to the tax capacity of a property to determine the property tax due,” she explained. “Tax rate equals net levy divided by tax capacity.” The city’s total levy for 2009 is $4,362,480 which is a 5.41% increase over the total levy of 2008. Jylan said that the impact on an average house in Victoria will be an additional $9 in property taxes, providing there’s no increase in property valuation. She reported that a home in Victoria with the 2009 median assessed taxable value of $369,200 is paying $1,372 in city property tax. She explained, “The tax is the product of the tax capacity of $3,692 times the tax rate of 37.152%. The tax capacity is 1% of the taxable value.” The city’s 2009 General Fund Revenue is $4,044,410 which is a 6.63% increase over that of 2008. Projected revenue from home building permit fees, licenses, and plan check fees is down, as is projected interest income. The increase in revenue mainly comes from the increase in property taxes collected. The 2009 General Fund Expenditures, as reported by the finance director, equal the Revenues. Jylan’s pie chart shows the following distribution of expenditures: 36% for wages and benefits, 17% for contractual services, 15% for transfers, 9.5% for supplies, 5% for fund balance contribution, 4% for utilities, 3% for insurance, 1.5% for capital outlay, and 9% for “other.” Revenue for the Victoria Field House in 2009 is projected to increase by 19%. Total revenue projected for 2009 is $1,210,428. According to the finance director, “School District #112 is the primary source of revenue with their $400,000 lease payment plus $327,753 in reimbursable expenses.” Expenditures for the Victoria Field House in 2009 are projected to increase by 8%. Reported Jylan, “The increase is largely due to the budgeted $77,575 for capital outlay for new and replacement fitness equipment, carpet, and furniture.” Total expenditures projected for 2009: $1,094,920. This is the first time in the history of the Victoria Field House that revenues exceed expenditures. For 2009 the city’s tax levy is reduced by $188,000 because of the partnership with School District #112. Jylan’s pie chart shows the following distribution of expenditures for the Field House: 46% to pay off debt, 22% for utilities, 16% for wages, 7% for capital replacement, and 9% for “other.” Debt remaining on the Field House, she reported, is $6,450,000 -- which is roughly its construction cost back in 2002 and 2003, including the gymnasium.
APPROVING CAPITAL IMPROVEMENTS TOTALING $4,678,075 IN 2009 Council passed three resolutions on December 11th, approving the Final Tax Levy for Collection in 2009 ($4,362,480), the 2009 General Fund Operating Budget ($4,044,410), and the 2009 Field House Budget ($1,094,920). Final numbers are identical to those numbers as received on December 1st, although there was some movement in line items of the budget to accommodate the addition of $30,000 in expenditures to modify and landscape the berm at Allegheny Grove along Kochia Lane (across from the expanded Field House). Council adopted another resolution that evening of December 11th related to the 5-year Capital Improvement Plan for the City of Victoria. As Finance Director Jylan Johnson stated, “Council typically adopts the one-year expenditures with the next four years on a conceptual basis.” She said that the capital expenditure plan for 2009 includes all three street reconstruction projects -- the Lions Park Area, the Hartwood neighborhood, and Quamoclit Street as the grocery store is completed. Most major items in the capital improvement plan must come individually before the Council for final approval of the expenditure. Grand total for 2009 capital improvements is $4,678,075. As stated above, that total includes the city’s 50% share of the street reconstruction projects ($3,720,000). It also includes $495,100 for Downtown Redevelopment; $30,000 for Community Development; $74,500 for Park and Recreation; $77,575 for the Field House; $9,000 for Fire Protection; $74,500 for Government Buildings; $97,000 for Public Works; $150,000 for Street Utility; and $24,900 for Administration. Projected CIP expenses for 2010 total $6,238,570. Projected CIP expenses for 2011 total $7,995,400. The CIP Plan also projects the various sources of funding for the projects.
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