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14 <br /> <br />15 <br /> <br />16 <br /> <br />17 <br /> <br />18 <br /> <br />19 <br /> <br /> EXPENDITURE SUMMARY BY ACCOUNT TYPE <br /> · Personal Services <br /> · Supplies <br /> · Other Services & Charges <br /> · Capital Outlay <br /> · TOTAL <br /> <br />[] SUPPLEMENTAL BUDGETS <br /> · Library <br /> · Surface Water Mgmt. <br /> · Equipment Certificates <br /> · Equipment Reserve <br /> · Landfill <br /> · Ice Arena <br /> <br />~ PROPOSED TAX LEVY FOR TAXES PAYABLE IN 1999 <br />[] WHERE DO YOUR PROPERTY TAXES GO? <br /> · Property tax payments provide funds to the county, school district, city and special <br /> taxing districts. <br /> · Typically the school district receives just under 60% of the tax revenue, the county <br /> and city each receive just over 20% and special taxing districts receive 1%. <br /> <br />[221 TAX RATE INFORMATION <br /> TAXES PAYABLE 1998 m <br /> · Total 111.504% plus .05131% MV levy less 11.173% Educational Homestead Credit (max. of <br /> $225) <br /> · City tax rate 26.255% <br /> <br />[] HOW WILL THIS AFFECT YOUR PROPERTY TAX <br /> · The change in your tax will depend on several factors <br /> - any change in the value of your property <br /> - the type of property <br /> · homestead properly will benefit from the increased Education Homestead Credit <br /> · commercial, industrial and agricultural property will benefit from legislation recuding the class rate <br /> applied to determine the tax capacity <br /> <br />[] AFFECT ON YOUR PROPERTY <br /> · An increase in the tax rate does not equate to an identical increase in your property <br /> tax. <br /> · Examples of the change in property tax based on the 1999 proposed rates: <br /> - $90,000 residential homestead increases 2.0% <br /> - $160,000 residential homestead increases 4.8% <br /> - $150,000 C/I increases 1.7% <br /> - $1,000,000 C/I decreases 2.3% <br /> <br /> <br />