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The value of a median value home in Victoria has increased from 2014 ($306,900) to 2015 ($350,100). City tax on that home in 2015 is also proposed to increase, by $36, to $1,162. Proposed city tax (and increase) on other valued homes in Victoria: $200,000 home: $711 ($27) $413,000 home: $1,588 ($20) $500,000 home: $2,090 ($196) $600,000 home: $2,758 ($225) $700,000 home: $3,427 ($275) $800,000 home: $4,095 ($314) $900,000 home: $4,763 ($353) $1 million home: $5,431 ($392)
The tax rate in Victoria is proposed to decrease from 37.89% in 2014 to 33.75% in 2015. A tax rate of 33.75% translates to a tax of $3.37 per $1,000 in property valuation. Said Mayor O'Connor, "I'm persuaded we've done a really good job."
Proposed Revenues in the 2015 General Fund GENERAL FUND REVENUES Taxes & Franchise Fees ................... $2,978,367 (Property taxes $2,887,000) (Delinquent Taxes $28,114) (Penalties on Delinquent Taxes $1,253) (Franchise fees $62,000) Licenses and Permits ........................ $375,517 Intergovernmental Revenue ............... $100,630 Charges for Services .......................... $412,770 Other Revenues ................................... $49,642 TOTAL REVENUES $3,916,926
The new home projection has been increased from an estimated 75 in 2014 to an estimated 90 in 2015. Building permit revenue per new home is $5,815 which means total projected income from new homes in 2015 is $523,256 and is included above in "Licenses and Permits" as well as "Charges for Services." It is the budget's advantage to be conservative in new home projections rather than too liberal. Number of new homes built in Victoria in 2014 could total 120 by year end.
Proposed 2015 Expenditures According to Character GENERAL FUND EXPENDITURES Wages and Benefits ......................... $1,501,264 Supplies-Repairs-Maintenance .......... $549,870 Contracted Services/Utilities ........... $1,155,096 Transfers ............................................ $474,135 Miscellaneous .................................... $119,789 Capital Outlay ...................................... $80,000 TOTAL EXPENDITURES ......... $3,880,154
Proposed 2015 Expenditures According to Function GENERAL FUND EXPENDITURES General Government: Mayor and Council ............................... $20,089 Administration .................................... $515,265 Finance ............................................. $139,490 Elections .............................................. $21,800 Professional Services ........................ $260,164 Planning and Zoning ........................... $139,838 Government Buildings .......................... $82,044 Total General Government ....... $1,178,690
Public Safety: Police/Sheriff ...................................... $338,102 Fire Protection .................................... $283,498 Building Inspections ........................... $234,188 Civil Defense .......................................... $1,500 Animal Control .......................................... $600 Total Public Safety ...................... $857,888
Public Works: Street Maintenance ......................... $1,084,216 Snowplowing ........................................ $70,500 Street Lights ......................................... $79,600 Signal Lights ........................................ $10,548 Recycling ............................................. $12,100 Total Public Works ................... $1,256,964
Parks and Recreation: Activities and Programs ........................ $55,759 Park and Recreation ........................... $196,073 Park Maintenance .............................. $208,524 Total Parks and Recreation ......... $460,356
Other Transfers: Transfer-Repay Water Fund ............... $150,000 Total Other Transfers .................. $150,000 TOTAL GENERAL FUND EXPENDITURES ...... $3,903,898
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The Victoria GAZETTE |
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October 2014 |
