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Property Taxes <br />In November 2001, Louisville voters approved a ballot issue exempting property taxes from the <br />TABOR restriction, as well as the statutory (5.5 %) restriction. The preliminary 2010 net <br />assessed valuation of property in Louisville is $446,282,400, a decrease of 0.1% from the final <br />2009 net assessed valuation. This assessed valuation, along with the general operating mill <br />levy of 5.184, should generate approximately $2.3 million in net general operating property tax <br />revenue for 2011. <br />In November 2003, the voters approved a ballot question authorizing the City to issue debt for <br />the construction of a new library facility. Included in this ballot issue was the authorization for an <br />increase in the property tax mill levy up to 1.581 mills to pay the debt service on the bond issue. <br />The 2011 debt service requirement for the library bond is approximately $524,000. The <br />assessed valuation, along with the bonded indebtedness mill levy, should generate <br />approximately $671,000. Any excess reserves in the Debt Service Fund will be used to make <br />future additional principal payments towards the debt. <br />3.500.000 - <br />3.000.000 <br />2.500.000 <br />2.000.000 <br />1.500.000 <br />1.000.000 <br />500.000 <br />City -Wide Property Tax Revenue <br />Actual and Projections <br />2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 <br />12 <br />