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al City of Louisville <br />Administration <br />Mayor and City Council <br />City of Louisville <br />749 Main Street <br />Louisville, CO 80027 <br />Dear Mayor Davidson and City Council: <br />I am pleased to present to you the 2001 Annual Budget. The creation of this budget offered new <br />challenges in facing a year of transition, with minimal growth in sales taxes and declining revenues <br />from development. This budget reflects our continuing commitment to the delivery of basic services <br />to the residents of Louisville, while maintaining the City's fiscally sound policies. <br />Overview <br />Property Taxes: <br />The 2000 assessed valuation of property in Louisville is $316,260,420, an increase of 8.0% over the <br />1999 assessed valuation. This will generate $1,507,655 in property tax revenue for 2001. Over the <br />last five years the assessed valuation has increased by 43.3%. <br />Assessed <br />Valuation <br />(in 1,000) <br />$320,000 <br />$280,000 <br />$240,000 <br />$200,000 <br />1995 <br />1996 1997 1998 <br />Year of valuation <br />1999 <br />2000 <br />Development: <br />Commercial development is expected to drop by about 27% from the 2000 estimates. The total <br />valuation of development in 2001 is projected at $34,963,915. There are 8 single-family units <br />projected to be developed, at an average valuation of $245,000 (not including the cost of land). <br />749 Main Street • Louisville, Colorado 80027 • (303) 666-6565 • FAX (303) 673-9043 <br />www.ci.louisville.co.us <br />