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(Draft January 2002) Key Financial Strategies <br /> For Elk River <br /> <br />40,000,000- <br />35,000,000- <br />30,000,000- <br />25,000,000- [] lO-year avg <br />20,000,000- · 9% <br /> · 7% <br />15,000,000- [] Growth, slowed <br /> <br />10,000,000- <br /> <br /> 5,000,000- <br /> <br /> 0- <br /> 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 <br /> <br />Figure 27- Projeded Tax Capac/ty <br /> <br />The final step leads to a projected City Tax Rate. The tax rate projections in the <br />following graph assume that property taxes are used to meet future General <br />Fund expenditure requirements after accounting for all other revenues. These <br />projections assume that revenue from fines will increase by 3%/year and all other <br />revenues increase at a 1% annual rate. <br /> <br />The objective of this exercise is not to create a meaningful target for a tax rate, <br />but to illustrate the challenges the City faces in managing the tax rate into the <br />future. <br /> <br />50.00%' <br /> <br />45.00%' <br />40.00%' <br />35.00%' <br />30.00%' <br />25.00%' <br /> <br />20.00% <br /> 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 <br /> <br />[] 10-year avg <br />· 9% <br />· 7% <br />[] Growth, slowed <br /> <br />2001 - 26.3% <br /> <br />Figure 28 - Projeded Ceneral Fund Tax Rate <br /> <br />Page <br /> 41 <br /> <br /> <br />