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SUBJECT: COMMUNITY ENERGY DISCUSSION <br />DATE: MARCH 9, 2021 Page 6 of 13 <br />Sales Tax <br />-Currently 8.635% (3% <br />-Similar tax <br />-Lacks incentive to <br />sales/use tax, 0.375% <br />adopted by <br />prioritize climate <br />open space, 0.125% <br />Denver <br />action since tax is not <br />historic preservation, <br />-Reduces cost <br />directly tied to energy <br />0.15% recreation) <br />burden on <br />use <br />-Annual revenue would <br />residents/busines <br />-Funding mechanism <br />fluctuate based on the <br />ses since tax <br />can be volatile <br />amount of annual <br />would be applied <br />-Enrollment for Xcel <br />taxable sales <br />to all eligible <br />programs may <br />-Non-profits, <br />purchases in <br />fluctuate <br />governmental entities <br />Louisville <br />-Additional cost <br />and manufacturing/ <br />-City can <br />burden during COVID <br />industrial businesses <br />administer since <br />are not subject to sales <br />tax already exists <br />tax <br />Property Tax <br />-Annual revenue would <br />-City can <br />-Cost burden is <br />fluctuate based on the <br />administer since <br />placed on <br />amount of annual net <br />tax already exists <br />home/business <br />assessed valuation but <br />-Property tax in <br />owners <br />could be adjusted by <br />area is generally <br />-Lacks incentive to <br />changing the mil levy <br />less volatile than <br />prioritize climate <br />sales tax <br />action since tax is not <br />directly tied to energy <br />use <br />-Enrollment for Xcel <br />programs may <br />fluctuate <br />-Additional cost <br />burden during COVID <br />Utility Bill Fee <br />-City could administer <br />-Consistent <br />-Lacks incentive to <br />flat fee through water <br />funding <br />prioritize climate <br />bill but could not base it <br />mechanism <br />action since tax is not <br />on electricity usage <br />directly tied to energy <br />since Xcel will not share <br />use <br />this data <br />-City's utility billing is <br />-Could establish <br />based on water <br />uniform rate for <br />meters and some <br />premises based on <br />premises like <br />sector (residential, <br />apartments do not <br />commercial, industrial) <br />have a meter and <br />would not be subject <br />to the tax <br />CITY COUNCIL COMMUNICATION <br />