The City Council has approved a preliminary property tax levy increase of 6.4 percent for 2018. The 6.4 percent increase to the levy is now the maximum amount the City Council can raise the 2018 tax levy.
State statute requires cities to adopt a preliminary tax levy and budget by September 30 for the upcoming fiscal year. Once the preliminary levy is adopted it can be lowered, but not increased.
The recommended 2018 budget is $54,239,230, an increase of $2,275,495 or 4.4 percent. The budget includes $30,443,715 in property tax-supported programs, with $23,795,515 planned for non-property tax-supported items.
The 2018 property tax levy approved by the council to fund the budget is $20,756,100. It is an increase of $1,243,040 compared to the 2017 levy, but due to a shift in the tax base toward commercial properties, the portion of the increase realized by homeowners will be less than previous years.
The impact on residents will vary depending on a property’s value and change in value relative to other properties in the city. Based on an expected property value increases, the median-valued Roseville home of $236,900 can expect to pay approximately $78.10 per month in 2018, an increase of $2.13.
In further action, the City Council also approved a preliminary tax levy of $360,150on behalf of the Roseville Economic Development Authority (REDA). This translates to a cost of approximately $17.40 annually or $1.45 per month for a median-valued Roseville home, which is small reduction compared to the 2017 EDA tax levy.
Residents are encouraged monitor City Council agendas and participate in the budget process. Upcoming discussions on the budget are expected to occur in November, with the final 2018 budget hearing slated for Dec. 4. The final vote on adoption of the 2018 budget is scheduled to take place at the Dec. 11 meeting, the final City Council meeting of the year.
For more information about the 2018 preliminary budget, please visit www.cityofroseville.com/budgetinformation.