Byron City's Proposed 2023 Budget and Public Input Meeting

Byron City is presenting its proposed 2023 budget at a Truth in Taxation meeting to gather public input. The city's population growth, residential home permits, building values, compared data, and certified debt and operating levy information are outlined. The budget includes allocations for general operations, debt service, and capital projects, along with specific initiatives like street improvements and capital projects. The impact of property taxes on city operations and the revenue structure for water/sewer operations are also discussed.

• Budget presentation
• Public input meeting
• City finances
• Taxation meeting
• Property taxes

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1. TRUTH IN TAXATION MEETING The purpose of this meeting is to present the City s proposed 2023 budget and to receive public input and comments

2. Byron Population Growth

3. New Residential Home Permits 2017 57 2020 46 2018 69 2021 94 2019 41 2022 84 Number of Available Lots 88 single family lots 33 duplex/triplex/multi family lots 13 Commercial Lots 3 Industrial Lots

4. New Residential Building Values 2015 $ 14,769,180 2019 $ 12,064,200 2016 $ 11,958,054 2020 $ 18,373,660 2017 $ 14,899,897 2021 $ 31,200,399 2018 $ 15,890,898 2022 (YTD) $ 26,828,725

5. How Byron Compares..

6. Certified Debt and Operating Levy $5,936,308 2023 CITY CERTIFIED PRELIMINARY LEVY Levy Increase of $1,207,410 from 2022

7. $2,475,864 is for General Operation - This is $178,196 higher than 2022. The increase includes: - Zoning Code Update - Inflation - Higher Supply Costs - Staff Wage/Benefit Costs WHAT MAKES UP THE LEVY $1,667,450 is for Debt Service - This is $204,000 higher than 2022. The increase includes: - Additional Tax Abatement Payments to Start in 2023 $1,792,993 is for CIP Levy - This is $825,128 higher than in 2022. The increase would be used to pay for Capital Projects.

8. - 2023 Street Improvements NW Mill and Overlay - $1,881,000 (This project was originally estimated at $850,000 but has more than doubled due to cost increases) 2023 CAPITAL PROJECTS - Hilldale Water Tower Painting - $500,000 - CSAH 5 Corridor Study - $50,000

9. City operations are funded by tax dollars and the property tax system is determined by the State Legislature. BUDGET IMPACTS FROM YEAR TO YEAR Enterprise operations (water/sewer) are similar to a for-profit commercial business. Enterprise operations collect fees that are established by the City through a rate structure and CANNOT use property taxes. Established fees must: - Cover all operating costs - Pay for capital improvements and expansion - Fund reserves - Be equitable and affordable Information from Ehlers Advisor (Sept 2007) Factors that can Influence the Budget

10. Revenue Sources 1. Intergovernmental a. LGA Aid, MSA $447,870 1. Property Taxes a. Certified Levy $5,936,308 1. Other Revenues a. Fees, Licenses, Permits, EMS Contract, Interest $326,671

11. Debt Levy by Year

12. Operating Levy by Year

13. Cost per RESIDENT per Year 2022 2023 Law Enforcement $56.31 $55.79 Parks/Pool $69.90 $69.21 Snow Removal $19.33 $19.63 First Responders/Fire $64.71 $64.96 Street Lights $21.38 $ 20.60

14. Local Government Aid Per Capita Population City 2023 LGA Per Capita 124,321 Rochester $3,958,994 $31.84 6,921 Kasson $1,252,644 $180.99 6,759 Stewartville $1,117,361 $165.31 2,997 Chatfield $866,853 $289.24 3,769 Pine Island $673,282 $178.63 6,553 Byron $400,070 $61.05

15. Tax Rate Comparison Certified Levy Divided by Assessed Market Value Population City Proposed 2022 2,997 Chatfield 90.00 108.86 3,769 Pine Island 81.00 86.94 6,553 Byron 67.04 67.04 6,687 Stewartville 61.93 70.30 6,851 Kasson 59.06 68.74

16. THANK YOU FOR ATTENDING BYRON S 2022 TRUTH IN TAXATION I AM HAPPY TO ANSWER QUESTIONS . . .