2009-10 Adopted Budget - City of Hoquiam

CITY OF HOQUIAMASSESSED VALUE AND LEVY LIMIT PROJECTIONSEstimated 2009 Regular, EMS, and Special LeviesPer Staff EstimatesYear 2008 Property Tax/Assessed Value and RatesAmount2007 AV for 2008 Collections: 381,714,7272007 AV for 2008 Collections - Special Levy: 380,333,5111. 2008 Regular Levy amount: $1,381,3192008 Property Tax Regular Levy Rate (Derived): $3.60002. 2008 EMS Levy Amount: $191,8492008 EMS Levy Rate (Derived): $0.50003. 2008 Assessment for Fire Equipment $0Fire Equipment Voted Levy: $0.00004. 2008 Assessment Refunding Bond Levy: $184,188Refunding Bond Levy Rate (Derived) $0.5435A. Proposed Regular Property Tax Rate for 2009 AmountEstimated 2008 AV for 2009 Collections: $432,596,7101. 2008 General tax levy 1,381,3192. Calculation of Tax Revenue from New Construction:PLUS Current Year's AV for new Construction 4,228,337MULTIPLIED BY Last Year's Levy Rate: 3.6000EQUALS Property Tax from New Construction: 15,2223. Calculation of Tax Revenue from recommended increase:PLUS 2008 General Tax Levy 1,381,319MULTIPLIED BY Requesting increase rate: 1.0%EQUALS: Requested Property Tax Increase from Current Base: 13,8134. Calculation of 2009 General Tax Levy:2008 General Tax Levy (#1) 1,381,319PLUS: Property Tax from New Construction: 15,222PLUS: Property Tax increase from current base: 13,813EQUALS: 2009 Recommended Regular Tax Levy Revenue $1,410,3545. Calculation of 2009 Regular Property Tax Levy Rate:2009 Regular Tax Levy $1,410,354DIVIDED BY 2008 A.V./$1,000 (Rate is per $1,000 of a.v.): 432,596,710EQUALS: 2009 Regular Property Tax Rate (Estimated): $3.2602B. EMS Levy for 2009 AmountEstimated 2008 AV for 2009 Collections - Regular Levies 432,596,710Voter Approved EMS Levy Rate per $1,000 AV (fixed). $0.4528Estimated 2009 EMS Tax Levy Revenue: $195,882C. Special Levy for Fire Equipment AmountEQUALS 2008 AV for 2009 Collections - Special Levy: 430,955,481Special Levy Tax Rate per $1000 Assessed Value: $0.0000EQUALS: 2009 Assessment - Special Levy: $0D. Special Levy for Refunding AmountEQUALS 2008 AV for 2009 Collections - Special Levy: 430,955,181Special Levy Tax Rate per $1000 Assessed Value: $0.0000EQUALS: 2009 Assessment - Special Levy: $047