5. SR 12-03-2007 - Laserfiche WebLink

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THE CITY BUDGET AND LEVY MAY CHANGE. ~= VOTERS MAY HAVE APPROVED A SCHOOL, CITYI Each year, citiesreviewtheneedsandvuantsoftheircitizensandhowtomeetthoseneeds .. ,r>,~ TOWNSHIP, COUNTY, OR SPECIAL DISTRICT ~ . and wants. This is called'discretionary spending' in the city budget. Also included in the ~ REFEREN DUM. budget is non-discretionary spending which is required by state and federal mandates and court decisions and orders. • Local referendums maybe held for local government construction projects, excess operating levies for schools or many other purposes. • Referendum levies may be spread on the market value or the tax capacity of a property ~.: THE TOWNSHIP BUDGET AND LEVY MAY CHANGE. depending on process and type ofreferendum levy. • Each March, townships set the levy and budget for the next year. ,~ FEDERAL AND STATE MANDATES MAY HAVE THE COUNTY BUDGET AND LEVY MAY CHANGE. Qr. ,~ CHANGED. • Each year, counties review the needs and>wants of their citizens and how to meet those • Both the state and federal governments require local governments to provide certain services discretionary needs and wants. In addition, also included in the county budget is non- and follow certain rules. These mandates often require, an increase in the cost and level of discretionaryspendingwhichisrequiredbystateandfederalmandatesandcourtdecisions service delivery. and orders. As much as sixty to eighty-five percent of the county expenditures are used to deliver rnandated services. AID AND REVENUE FROM THE STATE AND FEDERAL GOVERNMENTS MAY HAVE CHANGED. THE HOOL DISTRICT'S BUDGET AND LEVY MAY . ~ SC `{RANGE. • Each year the state legislature reviews and adjusts the level of funding for a variety of aids provided to local governments including Local Government Aid and County Program Aid. • The Legislature determines basicfunding levelsfor K-12 education and mandates services. ,` The formulas for how aid is determined and distributed among local. governments may have. that schools must perform. On average, approximately seventy percent of school costs I changed. are paid by the state.. • While direct aid and revenue from the federal government to local governments has declined • Local school districts set levies for purposes including safe school and community greatly in recent years, federal revenue continues to be a key portion of the local government. education, etc. revenue stream and that revenue stream may have changed. 1 A SPECIAL DISTRICT'S BUDGET AND LEVY MAY THE STATE LEGISLATURE MAY HAVE CHANGED. THE CHANGE. PORTION OF THE TAX BASE PAID BY DIFFERENT ®+ TYPES F PROPERTIES. • .Special districts such as the Metropolitan Council, hospital districts, watershed districts, drainage districts, etc. set levies to balance their budgets. • A change in class rates will require a change in the tax rate to raise the same amount of money. SPECIAL ASSESSMENTS MAY BE ADDED TO YOUR PROPERTYTAX BILL. OTHER STATE LAW CHANGES MAY ADlUST'THE TAX r. ,. ~ BASE. • Water lines, curb and gutter, and street improvements that directly benefit your property ' may be funded, in whole or in part, through a special assessment that is added to your tax .Fiscal disparities, personal property taxes on utility properties, limited market value, and tax bill. increment financing are example of laws that affect property taxes.