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October 2009 |
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The Victoria GAZETTE |
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City Scoop Continued |
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ASSESSMENTS LOWER THAN EXPECTED FOR VICTORIA’S 2008 STREET PROJECTS “The project is complete!” stated City Engineer Cara Geheren of the 2008 street, drainage, and utility improvements. Assessments will be made, all less than projected. Cara said the estimated assessment for Victoria Circle was $10,440 but it will be $8,891. For 81st Street it went from $7,420 to $6,237. For 82nd Street it went from $3,360 to $2,569. The city’s share went from an estimated $1,007,176 to $891,559. She stated the total project cost had been estimated at $1,360,109 but came in at $1,228, 173. Thus, the lower assessments for residents and city. The Assessment Hearing is scheduled for Monday, October 26th, at City Hall at 6:30 p.m., at which time the amounts to be assessed against benefitting property will be formally declared. As with all utility improvement projects, assessments can be payable upfront or in equal annual installments extending over a period of 15 years, with the first of the installments to be paid on or before January 4th, 2010, bearing an interest rate of 6.37%. Deferred assessments are possible for hardship issues.
VICTORIA LEVY TO DECREASE BY 1% EXPENDITURES AND REVENUES BY 1.3% It’s getting to be a habit in Victoria: the city portion of property taxes paid on a Victoria home is proposed to only increase for 2010 if the property valuation as determined by the Carver County Assessor increases. But this year, if property values remain static, the city portion of property taxes to be paid in 2010 will, in fact, decrease. The city’s tax rate remains flat at 37.4%. Stated Mayor Mary Thun on September 14th, having recently attended a meeting of area mayors, “I believe Victoria is the envy of many cities. I believe Victoria has done an excellent job.”
LEVY PROPOSED FOR 2010 General Fund Levy .............................$3,457,356 Rec Center Special Rev. Fund Levy ......$260,000 Diethelm Park Land Lease .....................$100,000 G.O. 2004 Improvement Bonds ..............$102,000 G.O. 2006 Improvement Bonds ..............$180,000 G.O. 2007 Improvement Bonds ................$95,000 G.O. 2008 Improvement Bonds ..............$120,000 TOTAL CERTIFIED LEVY ...........$4,314,356
As City Finance Director Jylan Johnson reported, the proposed 2010 tax levy for the Victoria Recreation Center continues to decrease due to the Joint Powers Agreement with School District 112 and cost sharing of the facility. The proposed 2010 levy for the Recreation Center will decrease from $326,800 in 2009 to $260,000 in 2010. Two years ago it was $515,306. The proposed 2010 operating budget for the Victoria Recreation Center is $873,856. Regarding the Diethelm Park Land Lease, Jylan explained, “This is the levy to pay the city’s lease of the park land from the Victoria Economic Development Authority. The EDA issued revenue bonds to finance the purchase of Diethelm Park. The bonds will be repaid in full February 1st, 2018, at which time the property will be conveyed from the EDA to the city.” Each of the four General Obligation Improvement Bonds listed above is related to the city’s share of costs for street and utility improvements in the various Victoria neighborhoods during the identified years. Overall, total levy is proposed to decrease by $48,124 or 1% under that of the 2009 levy.
BUDGET PROPOSED FOR 2010 General Fund Operating Revenues General Fund Property Tax .................$3,432,076 Licenses and Permits .............................$169,710 Inter-governmental Revenue ..................$111,068 Charges for Services .............................$258,746 Fines ........................................................$16,450 Miscellaneous Revenue .............................$4,500 TOTAL REVENUES ....................$3,992,550
The City of Victoria is anticipating, or projecting, revenue in 2010 from 40 new home permits in addition to the roughly 2,250 existing homes, as well as other sources of revenue. Overall, total expenditures are proposed to decrease by $51,859 or 1.3% under that of 2009.
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Sue’s Album A symphony of photos and fewer than a thousand words at www.VictoriaGazette.com |
