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• Providing incentives to limit the mass, scale, and number of stories of new buildings and
<br />developments within historic Old Town Louisville; to preserve setbacks; to preserve
<br />pedestrian walkways between buildings; and to utilize materials typical of historic buildings,
<br />above mandatory requirements; and
<br />• City staff time to administer these programs.
<br />12,000,000
<br />10.000.000
<br />8,000,000
<br />6.00 0.000
<br />4.00 0.000
<br />2,000,000
<br />City -Wide Sales Tax Revenue
<br />Actual and Projection
<br />0 0 0 0 0b 4h 04A 01 0� 00 „t0 ,��. �ti N0 „A tih ,�° ,1
<br />Property Tax Revenue
<br />Property tax accounts for 8% of City -wide revenue and 16% of General Fund revenue
<br />(excluding interfund transfers). In November 2001, Louisville voters approved a ballot issue
<br />exempting property taxes from the TABOR restriction, as well as the statutory (5.5 %) restriction.
<br />The preliminary 2012 net assessed valuation of property in Louisville is $442,912,407, an
<br />increase of 1.3% from the final 2011 net assessed valuation. This assessed valuation, along
<br />with the general operating mill levy of 5.184, should generate approximately $2.3 million in net
<br />general operating property tax revenue for 2013.
<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 2013 debt service requirement for the library bond is approximately $529,000. The
<br />assessed valuation, along with the bonded indebtedness mill levy, should generate
<br />approximately $676,000. The excess reserves in the Debt Service Fund will be used to make
<br />additional principal payments towards the debt, beginning on December 1, 2013. The 2013
<br />budget contains an additional budget of $525,000 for an advance call on these bonds.
<br />The following City -wide property tax revenue chart includes revenue generated by both the
<br />general operating mill levy and the debt service mill levy. It does not include property tax
<br />revenue generated by the Urban Revitalization District Fund.
<br />12
<br />implementation of
<br />Consumer Use Tax
<br />Effective 2011
<br />'y
<br />-_
<br />Decline artialE due to
<br />P Y
<br />increased retail
<br />competition in
<br />/
<br />Additional Historic
<br />Preservation Tax
<br />Projected Average
<br />Annual Growth Rate
<br />= 3.1 ,0 for 2013 -
<br />neighboring
<br />municipalities
<br />(1131,0) Effective 2009
<br />2017
<br />Closing of Sam's
<br />(Jan 2010) and
<br />Safeway (f.1ay 2010)
<br />0 0 0 0 0b 4h 04A 01 0� 00 „t0 ,��. �ti N0 „A tih ,�° ,1
<br />Property Tax Revenue
<br />Property tax accounts for 8% of City -wide revenue and 16% of General Fund revenue
<br />(excluding interfund transfers). In November 2001, Louisville voters approved a ballot issue
<br />exempting property taxes from the TABOR restriction, as well as the statutory (5.5 %) restriction.
<br />The preliminary 2012 net assessed valuation of property in Louisville is $442,912,407, an
<br />increase of 1.3% from the final 2011 net assessed valuation. This assessed valuation, along
<br />with the general operating mill levy of 5.184, should generate approximately $2.3 million in net
<br />general operating property tax revenue for 2013.
<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 2013 debt service requirement for the library bond is approximately $529,000. The
<br />assessed valuation, along with the bonded indebtedness mill levy, should generate
<br />approximately $676,000. The excess reserves in the Debt Service Fund will be used to make
<br />additional principal payments towards the debt, beginning on December 1, 2013. The 2013
<br />budget contains an additional budget of $525,000 for an advance call on these bonds.
<br />The following City -wide property tax revenue chart includes revenue generated by both the
<br />general operating mill levy and the debt service mill levy. It does not include property tax
<br />revenue generated by the Urban Revitalization District Fund.
<br />12
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