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<br /> PROPERTY TAX LEVY <br /> 1. Existing Assessed Valuation $126,975,640 <br /> Increase due to Annexation 431,440 <br /> Increase due to New Construction 6,087,420 <br /> Changes in Reappraisals 216,990 <br /> Total New Assessed Valuation $133,711,490 <br /> 2. Prior years Property Tax Revenue $ 717,703 <br /> Multiplied by H.B. 1003 Allowable Increase 1.055\ (No Increase For 199~ <br /> Total $ 717,703 <br /> 3. Computation to determine Mill Levy <br /> for the growth exemptions: Allowable <br /> increase divdided by existing valuations <br /> $717,703 ; 126,975,640 = .005652 <br /> 4. Portions of New Assessed Valuation <br /> exempted by growth <br /> Annexations $ 431,440 <br /> New Construction 6,087,420 <br /> Total Exempt due to growth $ 6,518,860 <br /> 5. Revenue from exempted portions: <br /> Assessed valuations due to growth $ 6,518,860 <br /> Multiplied by Mill Levy (From '3) .005652 <br /> Exempt Revenue $ 36,847 <br /> 6. The City's maximum allowable revenue <br /> under H.B. 1003 is: <br /> Allowable increase (from '2) (same as 1990) $ 717,703 <br /> Exempted revenue due to growth (from '5) 36,847 <br /> Total allowable revenue $ 754,550 <br /> 7. Adjustments for 1989 omitted properties <br /> Total allowable revenue (from '6) $ 754,540 <br /> "Omitted Properties" (1,010) <br /> Total allowable revenue $ 753,540 <br /> 8. New Mi 11 Levy: <br /> Allowable Revenue (from '7) <br /> divided by new assessed valuation <br /> (from 'I) and multipy by 1,000 <br /> $753,540 ; 133,711,490 = 5.635 <br /> 9. Optional Levies <br /> Refund/Abatement Pursuant to CRS <br /> 39-10-114(1) (a) (I) (A) .040 mills $ 5,359 <br /> 10. Total Levy 5.635 <br /> From '8 <br /> From '9 .040 <br /> Total 5.675 <br />