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The Victoria GAZETTE |
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Median value means half the homes in Victoria are assessed at a higher value and half at a lower value. Median value is not the same as average value. Average value of a Victoria home in 2011 was $392,500; it's projected to be $369,000 in 2012. Median value of homes is also decreasing. There was disagreement between Councilmember Tom O'Connor and Councilmember Jim Crowley as to whether city taxes are going up or down in 2012 with the proposed budget and levy. In fact, it's a question of perspective. Councilmember O'Connor said city tax dollars going out-of-pocket will decrease in 2012 because, although the tax rate is going up, the market value of homes is going down and therefore actual taxes paid are going down. "Not everybody's taxes are going down," argued Councilmember Crowley who voted against both the levy and budget. "A majority of the taxes are paid by people to the right of the median value home." Councilmember Crowley said that as a percentage of home value, taxes are actually going up. *** One can look at the perspective of Councilmember O'Connor, where out-of-pocket city-tax dollars are decreasing on a median-value home: ►In 2010 the median value home in Victoria was $357,800. City tax on that home was $1,338. ►In 2011 the median value home in Victoria is $341,800. City tax on that home was $1,278. ►In 2012 the median value home in Victoria is projected to be $317,874. City tax on that home is projected to be $1,237. And one can also look at the perspective of Councilmember Crowley, where percentage of city-tax dollars paid is increasing: ►City tax on a $300,000 home in Victoria in 2011 is $1,122. Next year, if the preliminary levy is approved, the city tax on a $300,000 home will be $1,167 which is an increase of $45. ►City tax on a $500,000 home in Victoria in 2011 is $1,870. Next year, if the preliminary levy is approved, the city tax on a $500,000 home will be $1,945 which is an increase of $75. ►City tax on a $700,000 home in Victoria in 2011 is $2,618. Next year, if the preliminary levy is approved, the city tax on a $700,000 home will be $2,723 which is an increase of $115. It is important to remember that the property tax statement also includes school taxes, county taxes, and miscellaneous taxes in addition to city taxes. Councilmember Crowley asked what happened to $110,000 previously identified in the 2012 budget as "Undesignated." Replied Jylan, "The Undesignated is now designated to capital future facilities." Said Councilmember Crowley, "My disappointment is that we had $110,000 in undesignated funds that we no longer have, plus $150,000 for street maintenance. That would be double dipping. We could have passed a budget for 2012 without raising the tax rate." Finance Director Jylan Johnson reported that -- in the revenue projections -- income from building permits is based on the anticipation of 55 new homes for 2012, not including the possibility of commercial projects. In 2011 the estimate of permit income was based on 40 new homes. Stated Councilmember Kim Roden after the vote approving the levy and budget, "I think it's important to understand what we're trying to do. There wasn't a way for us to get a new Public Works facility without a change in the tax rate. This may not be the easiest vote we've ever made." Resolutions adopting the preliminary levy and budget each passed with a 3-1 vote. [Councilmember Crowley cast the negative votes.] The resolution on the Recreation Center budget passed 4-0. Councilmember Tom Strigel was absent that evening of September 12th. Advised Mayor Mary Thun to her fellow councilmembers, "If you wish to see changes in the budget, get that information to Don or Jylan before December, and I don't mean at the last minute!" To city staff, Mayor Thun pleaded, "Please, next time, don't come to us with 'undesignated' or 'miscellaneous' funds in the budget. Please! That is not a good sign for a council." The proposed budget for 2012 was approved as follows:
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Sue’s Album A symphony of photos and fewer than a thousand words at www.VictoriaGazette.com |
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October 2011 |
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WATERBROOKE Fellowship A place where all may experience God in a meaningful and personal way, in Victoria. 952-443-0062 |
