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2010 Revenue Hearing

2010 Revenue Hearing. City of DuPont A Unique City – A Vibrant Future. Assessed Valuation. Assessed Valuation. New Construction Value vs. Property Tax Yield. New Construction = Property Taxes 2010 - $ 38,929,728 = $ 38,828

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2010 Revenue Hearing

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  1. 2010 Revenue Hearing City of DuPont A Unique City – A Vibrant Future

  2. Assessed Valuation

  3. Assessed Valuation

  4. New Construction Value vs. Property Tax Yield New Construction = Property Taxes 2010 - $ 38,929,728 = $ 38,828 2009 - $ 69,227,520 = $ 67,825 2008 - $ 84,163,054 = $ 89,062 2007 - $127,894,671 = $152,579 2006 - $112,086,594 = $143,017 2005 - $ 41,015,149 = $ 54,316 2004 - $ 27,744,137 = $ 8,997 2003 - $ 37,350,662 = $ 11,978 2002 - $ 21,150,600 = $ 6,954 2001 - $ 54,479,688 = $ 17,243 2000 - $ 24,595,000 = $ 7,497

  5. Property Tax Calculation • Prior Year’s Levy x 1% Statutory Limit • $1,267,908 x 1% = $12,679 (inflationary increase) • + New Construction Assessed Valuation x 2009 property tax rate • $38,929,728 x $0.9974 = $38,828 • + Administrative Refunds = $285 • = Total Levy Amount = $1,319,700 • Total Levy ÷ Total Assessed Valuation • ($1,319,700 ÷ 1,288,116,335)*$1,000 AV = $1.02829

  6. City Property Tax Comparisons

  7. City Property Tax Comparisons including Fire Regular Levies

  8. Where Did Your 2009 Property Tax Dollar Go? Pierce County Library4.3 cents Port of Tacoma1.8 cents Pierce County10.5 cents Excess Levy0.3 cents Steilacoom School District49.7 cents Steilacoom School District37.1 cents Steilacoom School District37.1 cents EMS Levy4.0 cents State of Washington19.7 cents City of DuPont9.7 cents

  9. Property Tax Levies • Regular Ad Valorem - $ 1.0283/1,000 AV • EMS - $ 0.4310/1,000 AV • Regular Ad Valorem - $1,319,700 • EMS - $ 553,192

  10. Annual Property Tax Comparison 2009 2010 Regular $299 $308 EMS $125 $129 Voted $ 9$ 0 Total $433 $437 Based on a home assessed at $300,000

  11. Public Comments

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