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07/29/2013 Special Meeting
iM4 �wi�i •!#f `•• Meeting Location: Municipal Center Ci1AppIG 7100 147th Street West Valley Apple Valley, Minnesota 55124 NOTICE: The Apple Valley City Council will hold a special informal meeting at the Municipal Center, on Monday, July 29, 2013, at 4:30 p.m., as follows: APPLE VALLEY CITY COUNCIL INFORMAL MEETING TENTATIVE AGENDA JULY 29, 2013 — 4:30 P.M. 1. Call to Order 2. Presentation and Discussion on Market Valuation Trends, Levy Considerations, and Related Budget Issues for 2014 and 2015 3. Other Items (as time allows) 4. Adjourn (Agendas are also available on the City's Internet Web Site http://www. cityofapplevalley. org) �N�F-Z .., .... ..:: .... City of ApPVa��ey MEMO Finance Department TO: Mayor, City Council and Tom Lawell, City Administrator FROM: Ron Hedberg, Finance Director DATE: July 24, 2013 SUBJECT: 2014 Budget Discussion DISCUSSION: Over the past few years the annual budget process would begin at the City Council goals setting session during which the City Council would provide direction to staff on the desired overall impacts of the preliminary tax levy and budget on typical property owners. This year's goal setting session was held earlier in the year and preliminary data was not available to present to Council at that time. The City Council has set July 29�' at 4:30 p.m. as a time to receive information on the 2014 budget process, the possible tax impacts and to provide direction that can be used in establishing a preliminary levy that is expected to be set at the September 12�' City Council meeting. On July 29�' staff would like to discuss market valuation trends, levy considerations and related budget issues for 2014 and 2015. The budget calendar also includes August 22 for a detailed budget discussion at the Council informal meeting leading up to the preliminary levy adoption on September 12, 2013. sNr- �z 7/29/2013 • r . � � pp Va eY �:.� R , vf� :��.,e _ ..:� ,��,�,..., O'v � 1 § ._ � a .� ..� :�. • .r�.....� ..�.. , .,,�. � . z , zi = ,�. � .:. ... ..,, ... . . .��.. � F r . .�: � :: .. ,..,.:. C � � IW ...�,. � L =„ �� : e �, � � , � r '� � ��; ��s A�&'a � � +s. ' � � � r �r �x � * � d � � � � � � � Q'�� ` • 1 7/29/2013 • � � . - +e � r « r' � +��- ° °e. � .�.�� � � � � e �e � " � , � � m - • � � ° s ' ♦ ° � °� � `Re� � ��� ; � ���E ��r�� � � - � �. ,� a `��� xt��* � �s' �, � � � � �� ����� � � ��� �,.: �.�� a � � � �� � �`� a � , �� .. , a . 4 � 6 Y � '. +� $ � � i Q " 8 • � �,. .�.. ..� - ,. . .. . . . , . ,. . ..:. ... � , r ,.n� _; ... ,;�� „ ,,. . ;:. , � . rs " . � � �... �.� �. � .� R � � ! ir � ! 4 '" � � . � � � � • � ` �� . ° � � . : !w �' k " �: . !" V � � � w � � ��"'. � � � 8� :� � " a� � � � :.� ,- � �� �� � � ° � � ' � � � � 1 � 16 � � �� -• � `.� ��` ��� ` �� �i .. �a � 1 i . � '° '� t . � � O ! � ° � � • 2 7/29/2013 • ��� �� : � �, �: � a .� � � �� �.$ :� � � ,�"� t a ,, c_a'c�t!i:-�9��� . < � i c ��i3's�Yt" cri:f;wY� ' � ;. ° ����� , - ti 1�s� � � �"�' Residential $3,681,590,100 $3,286,217,506 $3,026,238,584 $3,127,359,036 3.34% �� Comm.l Industrial $516,071,000 $506,624,400 $501,793,400 $492,558,400 -1.84% Utilit $13,373,300 $13,428,800 $13,428,800 $11,482,300 -14.49% �� A ricultural $13,233,600 $11,895,500 $11,640,100 $9,022,500 -22.49%�°� Cabins $395,900 $231,600 $215,900 $219,400 1.62% ` Apartments $193,911,000 $203,976,351 $225,529,619 $226,842,614 0.58% ��� Personal Propert $38,793,800 $39,388,400 $39,480,800 $38,519,200 -2.44% " Total $4,457,368,700 $4,061,762,557 $3,818,327,203 $3,906,003,450 2.30% � o�.,. , r ,-e�,,, �� � � �,t�� � � � - � � �� � � ti r � ` � � ° � � � ' . u�� ���. � ,�� � =��� �:�,� . , . .. �,��-. > > �: �� � ��� PAY 2013 PAY 2014 � ���� ` �� Local Tax Capacity % Change ���� ���'� '13 to 14 �'� " ; Residential 30,220,442 31,332,209 3.68% ' ���. : ��: C& I 9,616,606 9,664,490 0.50°/a �: Utility 229,018 229,018 0.00% y. N� Agricultural 97,855 88,063 -10.01 % T' Cabins 2,159 2,194 1.62% ;£. Apartments 2,704,250 2,724,174 0.74% :r; Personal Property 755,422 755,422 0.00% 43,625,752 44,795,570 2.68% � 3 7/29/2013 � g # � ....�. a �..�.: � �� : �' �. �'�: Local Tax Capacity % Change % change % change ��:' '13 to 14 New Const Apprec " "�� Residential 3.68% 0.59% 3.09% M ';� . "' C & I 0.50% 0.86% -0.36% �°. � Utility 0.00% 0.00% 0.00% ���� � ; Agricultural -10.01 % 0.00% -10.01 % £x � � "��°' Cabins 1.62% 0.00% 1.62% ��� � Apartments 0.74% 0.00% 0.74% �-, Personal Property 0.00% 0.00% 0.00% 2.68% 0.59% 2.09% � � �� � .` �;���.�``� � � � � � � � � � �, � � � . . > .. t ..,..,. .. �...�.,., ,:; �.�._ . "�� �"``' % Change in Tax Capacity by type � (Overa112J% increase in'14) � � �� .�, -10% -8% -6% -4% -2% 0% 2% 4% 6% 4 � Residential � . � � »� C & I . � �. ■ � '�� „w7� '�. . � . y�,' y utility P�: , �"� Agricul[ural � .�' ���.�. Gabins Apartments � �'�. PersonalProperty � . = New Construct�on value MV App iat on y �,� �� * ,tr:.,. ..1� .�,.��'. *�..*�,�,''.. . :. . ... ,E:.. � .'. � 4 7/29/2013 � � � � , r.,� , � ` . � � � .> � � e � » � � � ;� � � « ,'� � � �.� ��,+Q. � � ��'� '�� r � ,. ,q � �""' . � �` � `� ' 4� s, � � ,. , � .�,� � r.' '�� �a,,� � . k fM1„ yS"tl � ��� �4 �_ �.�F t- .��� '��� ����� ��� : � . � � � � �, � � J � � � � ��� ` � � �? 1 �� $�` "� s w� o- �, � . � � c sa,f� ;. � � z ��� * s � „� r � � 's� 4 . � § � s � � � ;"�` � � � � �; � � a, �. .��';�:. ,�. ' �? �,. ,?,w�'""� ...- � �,:�;�.��, � �z. , : x'�.� ,� y y<t � �m � w �� �.�. � �V ` � �- -- ---- - -- -- i M �� � r i � �' i _v". �� �°"� -� ` �a::�. �� ` i r ++e. 4 .. . � „� �� , L.�� t ��Its � � � � �".� "���� � �l�f� � ��'�,►��� � � Pe�cent Change Market Value � , e � � r# ?`� e " E7'' � 2013 201A � � ^ s €` 4 �� .s��� ��Y �� . � ���r s�`: , �s a? s, .,. ��+1��R'`� � �"�"'" � "��'� rr � � � , n. �ncreasea value 1^ ! g' �''�ai sy-�' ,��'fIG�_r� i osq�oi9s� I 4 �r ,., l r C�1.� a `.� 3�7 �' , '�� ,, �s a�. � '�. a o% �o aeev� ' ���ri�,2 x , _: �� �:. _ � 'j'K,,.`�'4° r �� ''� � � e_ov m s.eevs ��s ' �.:��*� �'� ' � � �i�� ,s��"^ t � �eo%m7.ssvs !�; � ' +a F:� � , - b�� A . �S+"�YI'.. � �f. a-�.� �, 1 - 8% � i � ` �-' �, �� ����"'�'� � �"-� Decreased Value � � ��'� � '` ' ul ' �� '�1: ! q �!.�i!w+��!((� ` I ooz�o.i.eaw � '. Ls*.. 7'` { �„ � ...� ..��1�I( .+�`�i7�� -z.o^;a�o-ase� ; i �� �� . { � a ,��?� ,�* � . ' �'' ���vi�,r0 9� . �� �a.o a �o-s.sess r . �aM� �bow�o-�ae� I � ��v� — i . . . .. u ����� � -e o�+ �� #��w,^ �'� i J '- '�� �� p...,_ „ i No Change in Value r�� .=', � ?, r�� �g, �oy E � ���IlS;ili { � ' - � �-- — ' !'�, �, �'� �. y°���A: 1P�AIwi � y ��':+ b 4 �. �� *p � � ������ � ��^ �; App�e , Va��ey I n�ti�es I 0 0.5 1 2 3 4 ( Soume: Dakola Counry GIS _ ____ __ _ J I � 5 7/29/2013 � ,� �� � � � �" ���` � P � #,r � d ��, � X . . .. . . �,�` � �, { # parcels } x `;����`� 50% increased 30 � � ����� between 2%and 6.996 ` �`� �" 2500 ri z�� � ` x �� � ------------. _ 2 W0 �,r�?��� � , — -----_ ; �( x � � �,1 � �-, ___ _ _ __ 1500 �r ��3 . _ „�;, t , �, a , o;. , � _ _ _ _. 5000 = _' -.__ _,, _ 5 � � �, .. ■.1.�,■' , � � � 1 �. : p o m o��o n 2° � 2° 3° 3� d2 3E 3� a° a° a° a: 2� 2° 3° 3° 3° .-I �Q V r!f N .-i O .� N �+1 <t �+1 �O i� 00 Q� O V n v "�✓ � i ` , .�,� � '�,�� �' " �, � �, Y:,�` �' �"�, �' ""��.��" a z � ,, . ? r � � � * � �` # � ''�' ��,�+ �i� �'�� j s� e ' �� :�, d �;.0 ��`rs� j„,� '�.�� � . �� �.^ . �e � � :.�.., -"€' ts � ��$.0 �... � . � � � � � � � �;,� .ar �' . . {, 6000 — _._ _--___ ---_��__. _.__.-----._-------, Y �, � �_____.__ .______ � � + 5000 i _ __ ---� � � > � �, 4000 � o 0 . � 90.Y /a declined 5/o or more i °' .�� � �3000 � _ _ — —� � � � � , 2000 i -- _ _ _ _ ; 1000 i __ _ __ _ ___ a p � �.� >- -13 % -12 % -11 % -10 % -9 % -8 % -7 % -6 % -5 % -A % -3 % -2 % -1 �% 0 % over �`��� 19% 1% � 6 7/29/2013 � � � � �� � � � �° �_ � ° ,�. = 3 � _ _ � ....._ ��. ... �` _ e � � . _ . , ._. w . � ��� , Taxable MV Change Cumulative # of parcels 1zOi g �00% . . . . . 91% 5°�o E' ° 100`54. 86� ._.. ........ .._ ._... . ... : 80%. 70% 60% ... ....... ...... . .... ......... �� 60°� 50% 3 7 % +. 40°i- 2396 �� 18% .�..�..��.... 20°i� i'/o 1.� 2 � 0 , 2 i .. � � . , .' 1 '' � ,.,. . . . . . . . . ... . .; .. . ... . . . .. O% a: 3: 8°. �°. d. � 3: a.° 22 3E 3Q � d2 ,. 2+ 2Q 8e 2�° l° �E Ze 3°. O Ql Oy] h I,Q � � M N ti O N M {}' �/'1 lD f� � � V n � �:. M+ �t�. � '� � � ! . �. F4r � 4 g* � � � i� � �-. .. . . a. � : >� '� �}' � .? ,�: r� � k�.� %'� , ��-.'�.��,-�- .,�w � , z ��. a ' ' . �., : � Assessors Estimated Market Value Median Value Homesteaded Residential $30Q000 �� $sso,000 ' � � .� � 0,000 241,400 235.50\ �'� $200,000 �.. �� �4.800 217.80 �� 207,300 � 203,800 � ��� 196,100 197,400 192,100�. 166,000 ��. . � � $150,000 ��s,too �, $100,000 $50,000 ��. � � � :",�. � �. ��. F,�r�; � $ � . . . . . . ... . . � m v �n co � m rn o � �� � � . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 �y � =I, N N N N N N N N N N N a ��;;, v ���� , o N � ia��, 7 7/29/2013 � ���� � �� � � �' ' ,�� � � � �. � �_'� % change in Median Value Home 15.0% 12.090 10.0% $:4% _ 5_7% 6.8% S.O'�o — 3:39'0 0.6� � 0.0°/a � � . . ■ -5.0% -2.4% -3.1� , -6.4�Yo -5.8% -10.� -7.5% 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Prelim ■ 90 change in Media� Value Home � � � ,i„ �. ,,� �^#' •. � :�� � s � o � ,� � � ' � � � � g 7/29/2013 � � � � � 1 ' E � � • �_ �� � � �• . .- � �� � � � � � � 9 7/29/2013 • '� ;.�;... �.,.�r. r t ,�;�� �, ..� � MINNESOTA• REVENllE 2014 (�ryL'm� Form T ����� : Pall� Pay2013 Pay2D14 1. Banded Indebted�less {Bas�ed on I�t Ta�c CapaCit� 5150.800 SI50,300 $0 2. Gertifitates af Inde6tedr�ss S117mD 5295.OD0 $295,0� S. MarbM Value B�ed IEeferendum le+eies 9. �h, rn. wi otn� w� �►ac �a Sl•�z� Sas� $8aa,o� �►no,� pncreasea �c ror zo� Siy,sss,� Sz�,wz,�ve $u 10. 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"� �tr . . s '� �� '�� � x "'r�`� .+5i:'� ,r� � �>3'x:x�. .✓rt'�b N.YS � �� �} r'�"y¢^�.^tt4r+..d� N �+� ..jau.eSwf�p $ #ve-S 7/29/2013 � � � ' � � — . ��� g � �, � ����"� �� � � � & ��} �a����:� �a � _ . , � � � r. . � ;,�, : _ � �:: �: � Approximately $240 million under �� =ti �# appeal (1/y was $446M) � � q f � '.:.�s �",�, . . ��'ye�..�- yt . w a+:'�'� � � �[# � . � � �� � �. � �. " � . � '. • Approximately $11 million under appeal (1/y was $43M) .�� � �.� _ ¢ . n�:. e .� .���..�� �, � � � ��. ��. :�.�. � , � , �� . � � F � �� , �,� , . . ., a.,. �s��".�*".�:�u.���.;„.n. , ..,. '� Counter ����� �dded Costs? .d� Balance With �� ��� , �: �,. �� � r , �,q..�.. �� ;: � �� s � � � �., a 't • • :��� � � ��,,�,, .� �� �� �,� - , _ _ ___ � �� � � ���,�}� , � �� �.<... t�«. ' � "��� .:�..xx �.R� � �p„Yla`� r ��£ � ° ,r�i � _ � x ��� ,� � �� �� — � » , �� `�' �',� ti�°; � � �R. � _� �� c , ..-� - �a�4 ��� . � ` y uil i �, � -�i , I ���dl0��ql� ���I iM'I�4yf �� M�i1�i���V��ii�iu�i I!V��� i 17 7/29/2013 � . t � �� � � � � � � � � � � ��� �- � z:�a .,� -s �,' �'a ^� � a� � ���� � � }' %� � �. !.� ..: .,4 = ay � �'� '�?. �t,� ��S � � .��� �' . . „�� .. . ... . ��. � . 4 . Counter ��� x. Added Costs? Balance With s � 'i �� � ...��, � �;. ��r 4 t§'' .�_. e e t � , �U',° . �' � � '.; .. .:... .. . ... ._ � c : �.� b , g �.. �`s� � 1 4 � "� ��«��. � ; e � � � .. � ��� � .. ���. �� � , e e�r � � , � � �:. �� , Rn � ".� '�*� ' "� • � �+ � . s . ! � t �► • Tax Capacity Added $176,892 (excludes $82,500 in TIF) � • Times Ci#y Tax Rate x 49 16 • Added $ From Growth $87,000 � 18 7/29/2013 . �. � � e � r � � � � � b , � � �� �� - . .. - � � � � - General 18,297,000 18,364,570 18,467,496 $ 102,926 *. :� Fund -� Street Maintenance 1,675,000 2,755,000 2,855,000 100,000 ° , Program ` Debt Service — 1,802,000 863,000 884,000 21,000 � ��, a �� Voter Approved ° DebtService— afl 251,249 428,376 428,504 12,800.x `� other levy supported >: Total 22,025,249 22,410,946 22,635,000 $224,054 : r �� ~ ., ,:. . , .. . .. . �.� , � s �" �,.,: l � ���.. �� � . � i .¢.� kP ��.�, � �'.� .� ° R w��°. " .� � �.� � . . . , � �...� w�1' �� m. .. F .'? � � ,n�, � � .: .r�,:� , wp ��` �^ -.. ... . , . 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Median 4alue Homes and Tax Dollars paid on Median Vaiued Home , (after appying MVHC (or years prior to'12) soo,000 _ _ _ _ _. � 250.000 5725 a785 5773 5815 E836 a �����$� y653 $1,000 � � � 200,000 �800 � � 150,000 $800 � F 100,000 $400 � 50,000 '� $200 a 0 � �' n ti ti° tiQ ti� ti� tio , yo °° ,yo^� , , Q ���F g o '`b ~ ti ��Medanve�ueMmw .��Neltexafle+MVN[; I s zo 7/29/2013 • � r : � � n �� � , r � ���° � �� ��' � �� � � a �," � °����. � "� ��^x�` �; *ry �.� 1 � '; . *� �"`�., ,-, ,� ; e ��r� r � tk� . . ,� , x. � �'° �'... , �.�,.. $ Ar. � ' Effective Tax Rate {taxes paid by median valued home ) o.soo�o _ . _ _ ___ 0.400% _ 0.4A°10 fl:d6%II.45% 0.40% 0.42°10 0.300% D37 n 0.38% 4.37% ° 0.34% 0.3A%�•�3 0.�00% 0.100% __._ _ _ _ __ _ _ O.ODO°lo 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Prelim —+— effective tax rate ( IN CLUOES Bond referen dum ) • x �� �.�.` � .. q..� � ��..�' � ���� �"�g �.��� ��'� � � �;:h� x � k � . � ..t"': �� � . ` � s'�`, � S,o- � 4�' �'.. � �`��. � � � ' �±.. „ g °� . g ,"'��,�. . .. .. . .. ''.�r�. . _... . ��T �.. �.,� . .. .. . . ,.. ��3` � Metlian Value Homes and Tax Dollars paid on Median Valued Home �ehsr appying MVNC for yean prior to Y2) 300.000 _ E815 5836 � 5870 38b2 3'86B" 5853 $1,000 � � 250,000 5725 a785 5773 .�--� �� v 200,000 � S800 > � 150�000 � � 100 000 5400 � � 50,000 � .°� a 0 $- �i o° o°`' cP� o�� 0° 0°�' o` o° o°� o^� �`� ti ti ti ti ti ti ti ti ti ti� 8 ti� ___ __� i �Meao�v:i�HO� �Me�r,.arte�MVHc • 21 7/29/2013 • � , �s � �» , � �r�. � �; -�€ � �a�"? � �6��° ;;�� � "�.^� �c .e � � � r � .� �. ��' :w.��.� t =%�;��,�, ,.u, . . � :��"'�:"�.'��.' . . . � �� . . . k W . ������a Effective Tax Rate (taxes paid by median valued home ) .,,,, ,. , o.soo�o _ 0.400% fl.46% Or4596 0.30096 037% 0.37%n 0.40% 0.42% 0.44% 0.34� 034'Yo 0:35% 0.200% __ _ _ --. _ 0.100% _.__.,__.__________..__.___._____.._�_..__.___--__._______._..._ _ 0.0003'0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Prelim —+— eHective tax rate ��NCLUDES Bond referendum) � : ...,. � �;�' _, 4 ` �^� � �. � � � a � • 22 7/29/2013 � �... � ,�_.r ��x �� �, � � � ��'� � „ �; : � � . ,� � - � � � a � �- � .�- � . e • — s _ — � � — e a°; �',� ��_° . �. +� � • ° � . � .. � � � M � . � � � � Vehicle and Equipment Replacement Fund �.000.000 1,g�,ppp .. ....._.., .. . .. 1,600�OIX7 . . . . .... . . . ... ... 1,40�.IXq . . . S,IOD.000 . . . . i,DOD.000 &W,00� fi00�000 4IX7.000 7U0.000 2074 2015 2016 2017 7018 2019 10I0 70I7 T077 1023 i07A 7075 2026�1027 1028 20?9 I030��2031 2032� 2033� 203A ■MnualVfftfChargex •PUrchases • 23 7/29/2013 • �a, Vehicle and Equipment Replacement fund �,soo.oao 1,600,�D . . . . .... . .. 1.400.00D _.„_.... . f.700,00D � .._.. . I.000.� -. . .. . . ....... . . . &JO.� . . _ ... .. ... . ..... . ....... . �.� AW.OW 290,UDU ...... ......... ..... ... . ... . � . .� � 2014 I015 1016 itr17 2018 2019 1020 It121 10Z2 I073 2074 ]OIS 2026 2027� 2018 2019 2030 1031 1032 1033 � i2oo,aool (aoo,000� .s. FnAine (ash • * ,:. ��.,;.. � :;, _ � � ,-;:'... . .-, „ .. �., ma ruo. �a... � MM � . f '.� �� r � � v � � � . Y � 7� � ... � ` .� � .. ,�. � � �„� r . . . . � `� . .. . . . ,� ,.:��r � �. F o �. , , . � �� • . a ..� .=n;a �, �-� .ia"�,,w 24