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HomeMy Public PortalAbout07.18.2023 Work Session Meeting Packet Posted 5/29/2009 Page WORK SESSION AGENDA MEDINA CITY COUNCIL Tuesday, July 18, 2023 6:00 P.M. Medina City Hall 2052 County Road 24 I. Call to Order II. 2024 Budget and CIP Discussion III. Adjourn Posted 07.14.2023 MEMORANDUM TO: Mayor and City Council Members FROM: Erin Barnhart, Finance Director DATE: July 12, 2023 SUBJ: 2024 Preliminary Enterprise Fund, CIP & Reserve Fund Budget Summary Projected Market Value and Tax Capacity Preliminary calculations from Hennepin County estimate a 9.5% market value increase and a 10.0% tax capacity increase. The market value increase is inclusive of development growth of $55,135,951 in 2022. Utility Rate Increases– See attachment A Rate determination is determined by overall fund balance along with projection of net income of the proposed budget (att. A, ln. 25). In addition to covering the daily operations and debt service payments, the enterprise funds cover a significant portion of water/sewer infrastructure replacement. The main source of revenue are water and sewer customers charged according to their water usage each month. The water and sewer capital funds are funded by connection fees and used for new infrastructure, not replacement of existing assets. Water Utility Fund Reserves (monthly user fees) will go towards funding proposed Medina Morningside watermain replacement (att. B, ln. 90). Other funding sources will include seeking grants, state and federal funding and assessments. Preliminary 2024 proposed rate increases: • Water: 1% • Sewer: 1% • Storm Water: 3% Capital Improvement Plan (CIP) – 1st draft, see attachment B Capital improvement projects are funded by a combination of assessments, bonding, grants, state aid, developer contribution and the following funds: • Road Fund • Equipment Fund • Revolving Capital Fund • Water Capital Fund • Sewer Capital Fund • Storm Water Fund • DWI Forfeiture Fund • Municipal Park Fund • Park Dedication Fund Work Session 2 General Fund Update Projected Market Value and Tax Capacity Preliminary calculations from Hennepin County estimate a 9.5% market value increase and a 10.0% tax capacity increase. The market value increase is inclusive of development growth of $55,135,951 in 2022. Fire Contracts • Long Lake – current estimated 2024 increase is $12,696. This increase assumes Orono remains part of the current budget allocation. • West Suburban Fire – waiting on budget submittal. Current proposed General Fund levy includes a Future Fire Facility transfer of $150,000. Staff recommends decreasing the transfer to $100,000 and adding $50,000 to the Equipment Fund to adequately fund proposed CIP equipment needs (att. B, ln. 25-67). 2023 2024 2023- 2024 Budget Proposed Change City Tax Rate: 22.598% 20.870% -7.6% General Fund Levy: $5,090,500 $5,071,159 ($19,341) Debt Service & Capital Levies: $910,446 $1,058,747 $148,301 Total Levy: $6,000,946 $6,129,906 $128,960 Change in Total Levy: 2.1% Reserve Fund Per city policy: As of 12/31/22, the general fund balance goal was $2,737,518 (using 5 months of 2023 budgeted expenditures of $6,570,044). The General fund balance at 12/31/22 was $3,718,512 or $980,994 above the goal. Of the general fund reserves, $263,935 has been assigned for specific functions, leaving $701,807 of unassigned reserves. The reserves assigned within the general fund are as follows: - $230,000 Post-retirement benefits - $135,000 Termination Liability - $48,000 Comprehensive Plan ($8,000 annually allocated) - $232,746 Affordable Housing (ALHOA) (currently funded from antenna revenue) - $30,000 Fire Study Implementation - $64,402 Litigation (remaining from original $280,000) Total - $752,648 (assigned) Total - $228,346 available No recommended reserve transfers currently. City of Medina Proposed 2024 Budget 2023 Budget 2024 Budget 2023 Budget 2024 Budget 2023 Budget 2024 Budget Operating (OP) Revenues 1 Charges for Services 1,421,200$ 1,642,400$ 941,839$ 1,001,798$ 277,500$ 299,500$ 2 Total OP Revenues 1,421,200$ 1,642,400$ 941,839$ 1,001,798$ 277,500$ 299,500$ 3 4 Operating Expenses 5 Personnel Services 247,244$ 256,123$ 154,094$ 159,084$ 84,324$ 87,634$ 6 Supplies 207,870$ 209,870$ 5,880$ 4,580$ 750$ 800$ 7 Other Services & Charges 1,134,550$ 294,050$ 566,500$ 686,183$ 191,100$ 232,677$ 8 Depreciation 380,000$ 450,000$ 125,000$ 150,000$ 75,000$ 75,000$ 9 10 Total Operating Expenses 1,969,664$ 1,210,043$ 851,474$ 999,847$ 351,174$ 396,111$ 11 12 Operating Income (Loss)(548,464)$ 432,357$ 90,365$ 1,951$ (73,674)$ (96,611)$ 13 14 Non-Operating Revenues 15 Water Connection Fees 10,000$ 10,000$ -$ -$ -$ -$ 16 Interest Earnings -$ -$ -$ -$ -$ -$ 17 Miscellaneous -$ -$ -$ -$ -$ -$ 18 Non-Operating Expenses 19 20 21 Interest Expense (2,594)$ -$ -$ -$ -$ -$ 22 Transfers from Other Funds 206,794$ -$ -$ -$ -$ -$ 23 Transfers to Other Funds (131,613)$ (134,122)$ (135,349)$ (137,651)$ (65,493)$ (67,458)$ 24 Net Income (Loss)(465,877)$ 308,235$ (44,984)$ (135,700)$ (139,167)$ (164,069)$ 25 Capital Outlay 850,000$ 850,000$ 60,000$ 50,000$ 130,000$ 170,000$ 26 Debt Service Principal 205,000$ -$ -$ -$ -$ -$ Enterprise Funds 2023-2024 Proposed Budgets Water Fund Sewer Fund Storm Water Fund Attachment A 1 2024 CIP: DEPARTMENT Project Cost City Proposed Portion Project Cost City Proposed Portion Project Cost City Proposed Portion Project Cost City Proposed Portion Project Cost City Proposed Portion Potential Revenue Source Roads 1 Morgan Rd 20,000$ 10,000$ Road/Bonds/Assessments 2 Wild Meadows North 185,972$ 92,986$ Road/Bonds/Assessments 3 Wild Meadows South 290,153$ 145,077$ Road/Bonds/Assessments 4 Willow N. of 24 RECLAIM 570,000$ 455,000$ Road/Bonds/Assessments 5 Chestnut Rd 23,319$ 11,660$ Road/Bonds/Assessments 6 Morningside 317,000$ 158,500$ Road/Bonds/Assessments 7 Tamarack N of Medina to Blackfoot Overlay 54,000$ 43,200$ Road/Bonds/Assessments 8 Dusty Tr. & Deerhill 36,000$ 18,000$ Road/Bonds/Assessments 9 Willow S. of 24 168,000$ 134,400$ Road/Bonds/Assessments 10 Tamarack - Medina to 24 - Overlay 49,985$ 39,988$ Road/Bonds/Assessments 11 Tamarack City Limits to CSAH 24 Overlay 77,675$ 62,140$ Road/Bonds/Assessments 12 Cherry Hill 99,056$ 49,528$ Road/Bonds/Assessments 13 Sioux Drive - North of tracks 40,000$ 40,000$ Road/Bonds/Assessments 14 Meander Rd.225,523$ 180,418$ Road/Bonds/Assessments/MSA 15 South Frontage Rd 25,000$ 12,500$ Road/Bonds/Assessments 16 Bella-Terra 22,000$ 11,000$ Road/Bonds/Assessments 17 Tamarack/HWY 55 5,500,000$ -$ -$ Developer/Assessments 18 Evergreen Rd - West TBD TBD Road/Bonds/Assessments 19 Hunter Drive South 123,504$ 61,752$ Road/Bonds/Assessments 20 Hunter Drive North 111,449$ 55,725$ Road/Bonds/Assessments 21 Medina Road 389,332$ 194,666$ Road/Bonds/Assessments 22 Roads Sub-total 1,406,444$ 873,222$ 524,716$ 387,256$ 272,523$ 203,918$ 5,500,000$ -$ 624,285$ 312,143$ 23 24 Public Works 25 Trail Snow Removal Equipment 8,000$ 8,000$ Equipment Bonds/Cap Equip Fund 26 Water Truck Modify / Add Water Tank 20,000$ 20,000$ Equipment Bonds/Cap Equip Fund 27 F-350 Pickup w/ Plow 80,000$ 80,000$ Equipment Bonds/Cap Equip Fund 28 Skid Steer Upgrade w/ Bucket 5,000$ 5,000$ Equipment Bonds/Cap Equip Fund 29 Single Axel Truck 320,000$ 320,000$ Equipment Bonds/Cap Equip Fund 30 Tandem 425,000$ 425,000$ Equipment Bonds/Cap Equip Fund 31 Utility Tractor - Harley Rake 65,000$ 65,000$ Parks 32 Skid Steer - Replace 2003 85,000$ 85,000$ Equipment Bonds/Cap Equip Fund 33 Skid Loader Mill 30,000$ 30,000$ Parks 75% & Eqpt Bonds/Cap Eqp Fund 34 Ranger Replacement $35,000 $35,000 Parks 35 Addt'l pickup truck $80,000 $80,000 Parks 75% & Eqpt Bonds/Cap Eqp Fund 36 Utility Truck - Water/Sewer 100,000$ 100,000$ Water/Sewer Utility Fund 37 Case Loader Siingle Axle - Replacement 320,000$ 320,000$ Parks 75% & Eqpt Bonds/Cap Eqp Fund 38 F-550 & Plow - Replacement 100,000$ 100,000$ Equipment Bonds/Cap Equip Fund 39 Public Works Sub-total 433,000$ 433,000$ 605,000$ 605,000$ 215,000$ 215,000$ 420,000$ 420,000$ -$ -$ 40 41 Police 42 PD Squad Cars 110,000$ 110,000$ 165,000$ 165,000$ 110,000$ 110,000$ 165,000$ 165,000$ 165,000$ 165,000$ Equipment Bonds/Cap Equip Fund 43 Less Lethal 6,400$ 6,400$ One Time State Monies 44 Flock Cameras (ALR's)7,000$ 7,000$ DTF Forfeiture 45 Tasers 75,000$ 75,000$ One Time State Monies 46 Records Management 150,000$ 150,000$ Equipment Bonds/Cap Equip Fund 47 Squad Radios 55,000$ 55,000$ DWI Forfeiture Fund/Cap Equip 48 Miscellaneous 8,000$ 8,000$ 10,000$ 10,000$ 10,000$ 10,000$ 10,000$ 10,000$ DWI Forfeiture Fund/Cap Equip 49 Police Sub-total 131,400$ 131,400$ 390,000$ 390,000$ 175,000$ 175,000$ 175,000$ 175,000$ 175,000$ 175,000$ 50 51 Fire 52 HAMEL 53 Ongoing PPE Replacement 12,000$ 12,000$ 12,000$ 12,000$ Equipment Bonds/Cap Equip Fund 54 Engine 12 Replacement 29,412$ 29,412$ 29,412$ 29,412$ Equipment Bonds/Cap Equip Fund 55 Rescue 11 Replacement 19,482$ 19,482$ 19,482$ 19,482$ Equipment Bonds/Cap Equip Fund 56 Tanker 12 Replacement 22,424$ 22,424$ 22,424$ 22,424$ Equipment Bonds/Cap Equip Fund 57 **Annual Contract - Exp 12/31/2027 77,000$ 77,000$ 77,000$ 77,000$ Equipment Bonds/Cap Equip Fund 58 Hamel Fire Sub-total 83,318$ 77,000$ 83,318$ 77,000$ 83,318$ 77,000$ 83,318$ 77,000$ -$ -$ 59 60 Loretto & Long Lake 61 Fire (Loretto) - Exp 12/31/24 35,408$ 35,408$ 35,408$ 35,408$ Equipment Bonds/Cap Equip Fund 62 Fire (Long Lake) - Exp 12/31/2025 11,000$ 11,000$ 11,000$ 11,000$ Equipment Bonds/Cap Equip Fund 63 Fire Sub-total -$ 46,408$ -$ 46,408$ -$ 46,408$ -$ 46,408$ -$ -$ 64 65 Emergency Management 66 Siren Maintenance 7,500$ 7,500$ 7,500$ 7,500$ 7,500$ 7,500$ 7,500$ 7,500$ Equipment Bonds/Cap Equip Fund 67 Civil Defense Sirens 30,000$ 30,000$ 30,000$ 30,000$ Revolving Cap. Impr. Fund 68 Civil Defense Sub-total 37,500$ 37,500$ 37,500$ 37,500$ 7,500$ 7,500$ 7,500$ 7,500$ -$ -$ 69 70 71 Administration/Data Processing 72 Vehicle Equipment Bonds/Cap Equip Fund 73 Administration Sub-total -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 74 75 City Buildings 76 City Hall Repairs/Renovation 15,000$ 15,000$ 10,000$ 10,000$ 15,000$ 15,000$ 10,000$ 10,000$ 15,000$ 15,000$ Revolving Cap. Impr. Fund 77 Community Building Repairs 10,000$ 10,000$ 15,000$ 15,000$ 10,000$ 10,000$ 15,000$ 15,000$ 10,000$ 10,000$ Revolving Cap. Impr. Fund 78 PW/Police Repairs/Renovations 10,000$ 10,000$ 10,000$ 10,000$ 15,000$ 15,000$ 10,000$ 10,000$ 15,000$ 15,000$ Revolving Cap. Impr. Fund 79 PW Entry Renovations/Training Room 250,000$ 250,000$ Revolving Cap. Impr. Fund 80 PW/Police Roof TBD TBD Revolving Cap. Impr. Fund 81 City Hall Roof TBD TBD Revolving Cap. Impr. Fund 82 City Buildings - Parking Lot 20,000$ 20,000$ 20,000$ 20,000$ 20,000$ 20,000$ 20,000$ 20,000$ 20,000$ 20,000$ Revolving Cap. Impr. Fund 83 Future Fire District Buidling 12,000,000$ TBD Revolving Cap. Impr. Fund 84 City Building Sub-total 55,000$ 55,000$ 55,000$ 55,000$ 12,060,000$ 60,000$ 305,000$ 305,000$ 60,000$ 60,000$ 85 86 87 88 Water (high growth expectation) 2024 - 2028 Capital Improvement Plan 2024 20262025 2027 2028 Attachment B 2 2024 CIP: DEPARTMENT Project Cost City Proposed Portion Project Cost City Proposed Portion Project Cost City Proposed Portion Project Cost City Proposed Portion Project Cost City Proposed Portion Potential Revenue Source 2024 - 2028 Capital Improvement Plan 2024 20262025 2027 2028 89 Water Treatment Plant Expansion 2,663,000$ 2,663,000$ Future - Water Capital 90 Morningside Watermain 2,183,000$ TBD Water Utility/Capital/Assessments/Grant 91 Tamarack/Hwy55 Watermain 500,000$ TBD Future - Water Capital 92 Water Tower 2,600,000$ 2,600,000$ Future Water Cap (2020-2023) 93 Water Sub-total 4,846,000$ 2,663,000$ -$ -$ 2,600,000$ 2,600,000$ 500,000$ -$ -$ -$ 94 95 Sewer 96 I / I Maintenance 100,000$ 100,000$ 100,000$ 100,000$ 100,000$ 100,000$ 100,000$ 100,000$ Sewer Capital Fund 97 Sewer Vac Sewer Utility Fund 98 Willow Lift Station Sewer Capital Fund 99 Generator Replacements 50,000$ 50,000$ 50,000$ 50,000$ Sewer Utility Fund 100 Hunter/Hamel Rd Upsize 750,000$ 750,000$ Sewer Capital Fund 101 Sewer Sub-total 150,000$ 150,000$ 850,000$ 850,000$ 150,000$ 150,000$ 100,000$ 100,000$ -$ -$ 102 103 Storm Water 104 Painter's Creek/Morningside Ditch 360,000$ 120,000$ Storm Water Fund/Grants/MCWD 105 Storm Water Improvement Grant Match 55,000$ 55,000$ 55,000$ 55,000$ 55,000$ 55,000$ 55,000$ 55,000$ Storm Water Fund/Grants/MCWD 106 Long Lake Creek 300,000$ 75,000$ Storm Water Fund/Grants/MCWD 107 Storm Water Sub-total 415,000$ 175,000$ 55,000$ 55,000$ 355,000$ 130,000$ 55,000$ 55,000$ -$ -$ 108 109 Municipal Park Replacements 110 Trails Municipal Park Fund 111 Annual Trail Replacement 30,000$ 30,000$ 30,000$ 30,000$ Municipal Park Fund 112 Clydesdale Trail Municipal Park Fund 113 Hamel Legion Park Municipal Park Fund 114 Holy Name Park Municipal Park Fund 115 Hunter Lions Park Municipal Park Fund 116 Full Park Reconstruction/Tennis Court 100,000$ 100,000$ Municipal Park Fund/Grants/Donations 117 Lakeshore Park Municipal Park Fund 118 Redesign/Shoreline Seeding 40,000$ 40,000$ Municipal Park Fund/Grants/Donations 119 Rainwater Nature Area Municipal Park Fund 120 Maple Park Municipal Park Fund 121 New baseball backstop 25,000$ 25,000$ Municipal Park Fund 122 Pickle Ball Courts 25,000$ 25,000$ Municipal Park Fund 123 Walnut Park - Designate Raingarden 15,000$ 15,000$ Municipal Park Fund/Grants/Donations 124 85,000$ 85,000$ 130,000$ 130,000$ 50,000$ 50,000$ -$ -$ -$ -$ 125 126 New Park Development 127 Trails 128 Hackamore Trail 350,000$ 175,000$ Park Ded/Cost Share w/ Corcoran 129 Medina Road Trail 50,000$ 50,000$ Park Dedication Fund 130 Chippewa Park Trail Connection 80,000$ 80,000$ Park Dedication Fund 131 Townline Road Trail Park Dedication Fund 132 Medina Lake Preserve Park Dedication Fund 133 Clean-up/Development (woods)25,000$ 25,000$ Park Dedication Fund 134 Trail Head & Pavillion 25,000$ 25,000$ Park Dedication Fund 135 Hamel Legion Park Park Dedication Fund 136 Grand Stand at Paul Fortin Field Hamel Athletic Club 137 Chippewa Park (Scherber Land)Park Dedication Fund 138 Planning Design 35,000$ 35,000$ Park Dedication Fund 139 Nursery Stock 2,000$ 2,000$ Park Dedication Fund 140 Playground Equipment 750,000$ 750,000$ Park Dedication Fund 141 Shawnee Woods - Entrance Sign Park Dedication Fund 142 Maple Park Park Dedication Fund 143 Pickleball Courts 100,000$ 100,000$ Park Dedication Fund 144 Land Acquisitions / New Trails (rolling-used as development occurs)Park Dedication Fund 145 Parks Sub-total 387,000$ 212,000$ 130,000$ 130,000$ 150,000$ 150,000$ 750,000$ 750,000$ -$ -$ 146 147 TOTAL:8,029,662$ 4,938,530$ 2,860,534$ 2,763,164$ 16,118,341$ 3,864,826$ 7,895,818$ 1,935,908$ 859,285$ 547,143$ 3 CITY OF MEDINA GENERAL FUND PRELIMINARY 2024 BUDGET 2024 Amount Percentage 2021 2021 2022 2022 2023 2023 Prelim Increase Increase Budget Actual Budget Actual Budget YTD Budget (Decrease) (Decrease) REVENUES & OTHER FINANCING SOURCES: Property Tax Levy 3,731,800 3,620,188 4,147,600 4,050,726 5,090,500 2,300,000 5,071,159 (19,341) -0.4% Other Taxes 75,000 104,420 85,000 112,458 75,000 0 7,000 (68,000) -90.7% Licenses and Permits 391,269 776,618 492,500 541,504 346,400 189,413 380,483 34,083 9.8% Intergovernmental 288,773 700,634 303,773 327,154 283,998 83,744 332,000 48,002 16.9% Charges for Services 141,254 148,867 143,074 387,662 310,871 201,274 331,015 20,144 6.5% Fines and Forfeitures 95,000 63,903 95,000 49,480 55,000 23,849 55,000 0 0.0% Special Assessments 0 32 0 0 0 0 0 0 N/A Interest om Investments 30,000 (58,953) 30,000 (203,121)0 1,365 0 0 N/A Miscellaneous 101,875 113,788 210,881 221,058 122,018 154,006 175,992 53,974 44.2% Sale of Assets 0 0 0 0 0 0 0 0 N/A Transfers In 227,409 272,409 234,230 337,137 286,257 0 355,495 69,238 24.2% Total Revenues & Other Financing Sources 5,082,380 5,741,908 5,742,058 5,824,058 6,570,044 2,953,650 6,708,144 138,100 2.1% EXPENDITURES & OTHER FINANCING USES: General Government: Mayor & Council 25,544 26,575 25,544 26,985 25,544 16,696 25,894 350 1.4% Administration 664,268 642,687 691,552 656,372 809,831 448,064 861,166 51,335 6.3% Elections 15,400 364 24,617 23,311 24,692 1,424 28,998 4,306 17.4% Assessing 104,315 102,018 172,499 121,736 172,499 85,894 172,500 1 0.0% Planning & Zoning 191,094 181,960 206,624 210,508 213,117 98,997 223,471 10,354 4.9% Comprehensive Plan 8,000 0 8,000 0 8,000 0 8,000 0 0.0% Data Processing 90,704 92,164 101,000 95,124 104,000 62,331 106,500 2,500 2.4% Police/Public Works Facility 79,500 61,503 87,800 95,171 89,300 59,749 97,700 8,400 9.4% Municipal Building 58,800 42,775 56,400 42,821 59,800 30,505 61,800 2,000 3.3% Unallocated 0 0 0 0 0 0 0 0 N/A Total General Government 1,237,625 1,150,046 1,374,036 1,272,028 1,506,783 803,658 1,586,028 79,245 5.3% Public Safety: Police 1,849,789 1,872,072 2,023,300 1,981,840 2,253,577 1,185,591 2,440,023 186,446 8.3% Police Records Management 13,500 9,599 14,200 10,079 10,250 10,542 16,000 5,750 56.1% Fire 408,130 422,483 441,448 458,167 476,281 244,207 635,038 158,757 33.3% Building Inspections 329,479 458,271 441,953 633,972 482,466 103,249 516,680 34,214 7.1% Emergency Management 5,800 6,574 6,050 4,687 6,250 4,340 7,625 1,375 22.0% Total Public Safety 2,606,698 2,769,000 2,926,951 3,088,745 3,228,824 1,547,930 3,615,366 386,542 12.0% Public Works: Public Works 743,356 665,430 793,620 802,271 840,377 401,278 883,681 43,304 5.2% Sanitation & Recycling 26,540 14,601 25,322 8,037 24,102 5,668 24,717 615 2.6% Total Public Works 769,896 680,031 818,942 810,308 864,479 406,946 908,399 43,919 5.1% Parks & Recreation: Community Building 42,076 42,242 40,036 48,415 43,526 28,161 51,400 7,874 18.1% Parks 186,341 185,588 231,241 211,036 252,763 119,582 281,759 28,996 11.5% Total Parks & Recreation 228,417 227,831 271,277 259,451 296,289 147,743 333,159 36,870 12.4% Economic Development Housing 57,010 0 57,907 0 60,949 0 0 (60,949) -100.0% Transfers Out 182,734 504,000 147,174 447,174 157,718 0 165,192 7,474 4.7% Transfer to Fire Facility 0 0 145,771 145,771 455,000 0 100,000 (355,000)-78.0% Total Transfers 182,734 504,000 292,945 592,945 612,718 0 265,192 (347,526)-56.7% Total Expenditures & Other Financing Uses 5,082,380 5,330,907 5,742,058 6,023,478 6,570,043 2,906,276 6,708,144 138,101 2.1% EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER (UNDER) EXPENDITURES AND OTHER FINANCING USES 0 411,001 0 (199,420)0 47,374 (0)(1)N/A Attachment C 4 City of Medina 2024 Property Tax Levy Scenario Summary Actual Proposed Pay Pay 2023 2024 Property Tax Information: 1 Estimated Market Value Change (Taxable)N/A 9.5% 2 Estimated Tax Capacity Change (Taxable)N/A 9.9% 3 4 General Fund Levy $5,090,500 $5,071,159 5 % Change N/A -0.4% 6 7 Debt Service & Capital Levies $910,446 $1,058,747 8 % Change N/A 16.3% 9 10 Total Levy $6,000,946 $6,129,906 11 % Change N/A 2.1% 12 13 City Local Tax Capacity Rate 22.598% 20.870% 14 % Change N/A -7.6% 15 16 17 Estimated Property Taxes: 18 19 $700,000 Home With No Market Value Change $1,695 $1,565 20 % Change N/A -7.6% 21 22 $700,000 Home With 7.5% Market Value Increase $1,843 $1,702 23 % Change N/A -7.6% 24 25 $5,000,000 C/I Property With No Market Value Change $22,259 $20,557 26 % Change N/A -7.6% 27 28 $5,000,000 C/I Property With 7.5% Market Value Increase $23,954 $22,123 29 % Change N/A -7.6% Attachment D 5 City of Medina Property Tax Levies 2024 Proposed Proposed Amount Percentage Pay Pay Increase Increase 2023 2024 (Decrease) (Decrease) 1 General Fund Levy 4,635,500 4,971,159 335,659 7.2% 2 Future Fire Facility 455,000 100,000 (355,000) -78.0% 3 Total General Fund Levy 5,090,500 5,071,159 (19,341) -0.4% 4 5 Debt Service & Capital Levies: 6 7 Public Works and Police Department Facility: 8 9 2012A G.O. Capital Improvement Plan (CIP) Bonds - $6.1 million 364,791 362,943 (1,848) -0.5% 10 2013A G.O. Refunding Bonds (2007A recharacterized CIP portion) 0 0 0 N/A 11 12 Total Public Works and Police Department Facility 364,791 362,943 (1,848) -0.5% 13 14 Other Debt Service: 15 16 2011B Taxable G.O. Improvement Bonds - Hunter Drive North 0 0 0 N/A 17 2015A G.O. Improvement Bonds - Tower Drive 60,155 60,304 149 0.2% 18 19 Total Other Debt Service 60,155 60,304 149 0.2% 20 21 Capital Levies: 22 23 Municipal Park Fund Levy 112,000 112,000 0 0.0% 24 Capital Road Fund Levy 61,000 61,000 0 0.0% 25 Capital Equipment Fund Levy 312,500 462,500 150,000 48.0% 26 27 Total Capital Levies 485,500 635,500 150,000 30.9% 28 29 Total Debt Service & Capital Levies 910,446 1,058,747 148,301 16.3% 30 31 Total Levies 6,000,946 6,129,906 128,960 2.1% Attachment E 6 City of Medina 2024 Proposed Property Tax Scenario Residential Homesteads 2023 2024 2023-2024 Budget Proposed Change 1 City Tax Rate:22.598%20.870%-7.6% 2 3 General Fund Levy:$5,090,500 $5,071,159 ($19,341) 4 5 Debt Service & Capital Levies:$910,446 $1,058,747 $148,301 6 7 Total Levy:$6,000,946 $6,129,906 $128,960 8 9 Change in Total Levy:2.1% 10 11 2023 CITY PROPERTY TAXES 12 13 Homestead City Local City 14 Market Market Value Tax Tax Capacity Property 15 Value Exclusion Capacity Rate Taxes 16 2023 2023 2023 2023 2023 17 18 $100,000 ($28,200)$718 22.598%$162 19 $200,000 ($19,200)$1,808 22.598%$409 20 $300,000 ($10,200)$2,898 22.598%$655 21 $400,000 ($1,200)$3,988 22.598%$901 22 $500,000 $0 $5,000 22.598%$1,130 23 $600,000 $0 $6,250 22.598%$1,412 24 $700,000 $0 $7,500 22.598%$1,695 25 $800,000 $0 $8,750 22.598%$1,977 26 $900,000 $0 $10,000 22.598%$2,260 27 $1,000,000 $0 $11,250 22.598%$2,542 28 29 2024 CITY PROPERTY TAXES (WITH NO MARKET VALUE CHANGE) 30 31 Market Homestead City Local City Property Percentage 32 Value Market Value Tax Tax Capacity Property Taxes Tax 33 2022 Exclusion Capacity Rate Taxes Increase Increase 34 NO CHANGE 2024 2024 2024 2024 (Decrease)(Decrease) 35 36 $100,000 ($28,200)$718 20.870%$150 ($12)-7.6% 37 $200,000 ($19,200)$1,808 20.870%$377 ($31)-7.6% 38 $300,000 ($10,200)$2,898 20.870%$605 ($50)-7.6% 39 $400,000 ($1,200)$3,988 20.870%$832 ($69)-7.6% 40 $500,000 $0 $5,000 20.870%$1,044 ($86)-7.6% 41 $600,000 $0 $6,250 20.870%$1,304 ($108)-7.6% 42 $700,000 $0 $7,500 20.870%$1,565 ($130)-7.6% 43 $800,000 $0 $8,750 20.870%$1,826 ($151)-7.6% 44 $900,000 $0 $10,000 20.870%$2,087 ($173)-7.6% 45 $1,000,000 $0 $11,250 20.870%$2,348 ($194)-7.6% 46 47 2024 CITY PROPERTY TAXES (WITH MARKET VALUE INCREASE) 48 49 Market 50 Value Homestead City Local City Property Percentage 51 2022 Market Value Tax Tax Capacity Property Taxes Tax 52 INCREASE OF Exclusion Capacity Rate Taxes Increase Increase 53 5.0%2024 2024 2024 2024 (Decrease)(Decrease) 54 55 $105,000 ($27,800)$772 20.870%$161 ($1)-0.7% 56 $210,000 ($18,300)$1,917 20.870%$400 ($8)-2.1% 57 $315,000 ($8,900)$3,061 20.870%$639 ($16)-2.5% 58 $420,000 $0 $4,200 20.870%$877 ($25)-2.7% 59 $525,000 $0 $5,313 20.870%$1,109 ($21)-1.9% 60 $630,000 $0 $6,625 20.870%$1,383 ($30)-2.1% 61 $735,000 $0 $7,938 20.870%$1,657 ($38)-2.3% 62 $840,000 $0 $9,250 20.870%$1,931 ($47)-2.4% 63 $945,000 $0 $10,563 20.870%$2,205 ($55)-2.4% 64 $1,050,000 $0 $11,875 20.870%$2,478 ($64)-2.5% 65 66 2024 CITY PROPERTY TAXES (WITH MARKET VALUE INCREASE) 67 68 Market 69 Value Homestead City Local City Property Percentage 70 2022 Market Value Tax Tax Capacity Property Taxes Tax 71 INCREASE OF Exclusion Capacity Rate Taxes Increase Increase 72 7.5%2024 2024 2024 2024 (Decrease)(Decrease) 73 74 $107,500 ($27,600)$799 20.870%$167 $5 2.8% 75 $215,000 ($17,900)$1,971 20.870%$411 $3 0.7% 76 $322,500 ($8,200)$3,143 20.870%$656 $1 0.2% 77 $430,000 $0 $4,300 20.870%$897 ($4)-0.4% 78 $537,500 $0 $5,469 20.870%$1,141 $11 1.0% 79 $645,000 $0 $6,813 20.870%$1,422 $10 0.7% 80 $752,500 $0 $8,156 20.870%$1,702 $7 0.4% 81 $860,000 $0 $9,500 20.870%$1,983 $5 0.3% 82 $967,500 $0 $10,844 20.870%$2,263 $3 0.1% 83 $1,075,000 $0 $12,188 20.870%$2,544 $1 0.1% Attachment F 7 City of Medina 2024 Proposed Property Tax Scenario Commercial/Industrial Properties 2023 2024 2023-2024 Budget Budget Change 1 City Tax Rate:22.598%20.870%-7.6% 2 3 General Fund Levy:$5,090,500 $5,071,159 ($19,341) 4 5 Debt Service & Capital Levies:$910,446 $1,058,747 $148,301 6 7 Total Levy:$6,000,946 $6,129,906 $128,960 8 9 Change in Total Levy:2.1% 10 11 2023 CITY PROPERTY TAXES 12 13 City Local City 14 Market Tax Tax Capacity Property 15 Value Capacity Rate Taxes 16 2023 2023 2023 2023 17 18 $1,000,000 $18,500 22.598%$4,181 19 $2,000,000 $38,500 22.598%$8,700 20 $3,000,000 $58,500 22.598%$13,220 21 $4,000,000 $78,500 22.598%$17,741 22 $5,000,000 $98,500 22.598%$22,259 23 $6,000,000 $118,500 22.598%$26,779 24 $7,000,000 $138,500 22.598%$31,298 25 $8,000,000 $158,500 22.598%$35,818 26 $9,000,000 $178,500 22.598%$40,338 27 $10,000,000 $198,500 22.598%$44,857 28 29 2024 CITY PROPERTY TAXES (WITH NO MARKET VALUE CHANGE) 30 31 Market City Local City Property Percentage 32 Value Tax Tax Capacity Property Taxes Tax 33 2022 Capacity Rate Taxes Increase Increase 34 NO CHANGE 2024 2024 2024 (Decrease)(Decrease) 35 36 $1,000,000 $18,500 20.870%$3,861 ($320)-7.6% 37 $2,000,000 $38,500 20.870%$8,035 ($665)-7.6% 38 $3,000,000 $58,500 20.870%$12,209 ($1,011)-7.6% 39 $4,000,000 $78,500 20.870%$16,383 ($1,357)-7.7% 40 $5,000,000 $98,500 20.870%$20,557 ($1,702)-7.6% 41 $6,000,000 $118,500 20.870%$24,731 ($2,047)-7.6% 42 $7,000,000 $138,500 20.870%$28,906 ($2,393)-7.6% 43 $8,000,000 $158,500 20.870%$33,080 ($2,738)-7.6% 44 $9,000,000 $178,500 20.870%$37,254 ($3,084)-7.6% 45 $10,000,000 $198,500 20.870%$41,428 ($3,430)-7.6% 46 47 2024 CITY PROPERTY TAXES (WITH MARKET VALUE INCREASE) 48 49 Market 50 Value City Local City Property Percentage 51 2022 Tax Tax Capacity Property Taxes Tax 52 INCREASE OF Capacity Rate Taxes Increase Increase 53 5.0%2024 2024 2024 (Decrease)(Decrease) 54 55 $1,050,000 $19,500 20.870%$4,070 ($111)-2.7% 56 $2,100,000 $40,500 20.870%$8,453 ($248)-2.8% 57 $3,150,000 $61,500 20.870%$12,835 ($385)-2.9% 58 $4,200,000 $82,500 20.870%$17,218 ($522)-2.9% 59 $5,250,000 $103,500 20.870%$21,601 ($658)-3.0% 60 $6,300,000 $124,500 20.870%$25,984 ($795)-3.0% 61 $7,350,000 $145,500 20.870%$30,367 ($932)-3.0% 62 $8,400,000 $166,500 20.870%$34,749 ($1,069)-3.0% 63 $9,450,000 $187,500 20.870%$39,132 ($1,206)-3.0% 64 $10,500,000 $208,500 20.870%$43,515 ($1,342)-3.0% 65 66 2024 CITY PROPERTY TAXES (WITH MARKET VALUE INCREASE) 67 68 Market 69 Value City Local City Property Percentage 70 2022 Tax Tax Capacity Property Taxes Tax 71 INCREASE OF Capacity Rate Taxes Increase Increase 72 7.5%2024 2024 2024 (Decrease)(Decrease) 73 74 $1,075,000 $20,000 20.870%$4,174 ($7)-0.2% 75 $2,150,000 $41,500 20.870%$8,661 ($39)-0.4% 76 $3,225,000 $63,000 20.870%$13,148 ($72)-0.5% 77 $4,300,000 $84,500 20.870%$17,636 ($105)-0.6% 78 $5,375,000 $106,000 20.870%$22,123 ($137)-0.6% 79 $6,450,000 $127,500 20.870%$26,610 ($169)-0.6% 80 $7,525,000 $149,000 20.870%$31,097 ($201)-0.6% 81 $8,600,000 $170,500 20.870%$35,584 ($234)-0.7% 82 $9,675,000 $192,000 20.870%$40,071 ($266)-0.7% 83 $10,750,000 $213,500 20.870%$44,558 ($299)-0.7% Attachment G 8