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Sales Tax Revenue <br />Sales tax is a significant revenue source for the City and the projections/assumptions affect the <br />City's main operating and capital funds: <br />• General Fund <br />• Open Space & Parks Fund <br />• Historic Preservation Fund <br />• Recreation Fund <br />• Capital Project Fund <br />The following table summarizes sales tax revenue history from 2008 through 2028. <br />Sales Tax Revenue <br />30,000,000 <br />25,000,000 Recreation Center Tax <br />(0.15%) Effective 201A <br />20,000,000 <br />Historic <br />15,000,000 Preservation Tax Implem <br />(0.125Effective Consumer Use <br />2009 / PffartivOC"M it <br />10,000,000 <br />5,000,000 <br />Recovery <br />2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 <br />6-1 Nominal/Current Dollars Annual Percent of Change <br />Assessed Valuation, Projected Mil Levy, & Property Tax Revenue <br />On August 21st the City received its Preliminary 2023 assessed valuation amounts from the <br />Boulder County Assessor. While Preliminary values have been received, only the Final assessed <br />valuations, multiplied by the mill levies, determine the amount of property tax revenue that will be <br />received by the City in 2024. <br />The Assessor reported that the City of Louisville's gross assessed preliminary valuation increased <br />by 43.9%, from $748,288,418 in 2023 to $1,076,558,131 in 2024. The City of Louisville's total net <br />assessed preliminary valuation, which is the City's gross valuation less the Urban Revitalization <br />District's incremental assessed valuation, also increased by approximately 44.2%, from <br />$726,080,315 in 2022 to $1,047,223,711 in 2024. <br />Please note that 2023 is a "re -assessment" year, so changes in valuation are due to both <br />2024 Recommended Budget Transmittal <br />