Iowa County Property Tax Analysis FY11
Analysis of property tax rates and amounts per capita in Iowa's largest counties for Fiscal Year 2011, highlighting Scott County's rankings among urban and rural areas. The data shows Scott County with comparatively lower property tax rates, positioning it favorably within the state.
Download Presentation
Please find below an Image/Link to download the presentation.
The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author. Download presentation by click this link. If you encounter any issues during the download, it is possible that the publisher has removed the file from their server.
E N D
Presentation Transcript
FY12 Initial Budget Discussion with Board of Supervisors October 14, 2010
Agenda Review FY11 1. County Levy Rate Comparisons 2. Revenue Trends 3. General Fund Balance Wall of Savings FY12 Direction FY12 Budget Issues FY12 Budget Calendar
FY11 URBAN AREAS TAX LEVY RATE FOR THE EIGHT LARGEST METROPOLITAN IOWA COUNTIES COUNTY (population size ranking in brackets) $7.98 WOODBURY (6th) POTTAWATTAMIE (8th) $7.39 $7.22 JOHNSON (4th) $6.82 POLK (1st) $6.67 BLACKHAWK (5th) $6.50 DUBUQUE (7th) $6.38 *** SCOTT (3rd) *** $6.07 URBAN AREAS LEVY RATE LINN (2nd) While ranking 3rd in size Scott County ranks SECOND LOWEST among the eight largest metropolitan Iowa Counties in the urban areas tax levy rate amount for Fiscal Year FY11
FY11 RURAL AREAS TAX LEVY RATE FOR THE EIGHT LARGEST METROPOLITAN IOWA COUNTIES COUNTY (population size ranking in brackets) $11.37 POLK (1st) POTTAWATTAMIE (8th) $10.54 $10.39 JOHNSON (4th) $10.16 WOODBURY (6th) $10.02 DUBUQUE (7th) $9.78 LINN (2nd) $9.55 BLACKHAWK (5th) $9.40 *** SCOTT (3rd) *** RURAL AREAS LEVY RATE While ranking 3rd in size Scott County ranks the LOWEST among the eight largest metropolitan Iowa Counties in the rural areas tax levy rate amount for Fiscal Year FY11
FY11 COUNTY PROPERTY TAX AMOUNT PER CAPITA FOR THE EIGHT LARGEST METROPOLITAN IOWA COUNTIES COUNTY (population size ranking in brackets) POTTAWATTAMIE (8th) $371 $331 JOHNSON (4th) $306 POLK (1st) $281 DUBUQUE (7th) $275 *** SCOTT (3rd) *** $271 WOODBURY (6th) $263 LINN (2nd) $236 BLACKHAWK (5th) COUNTY PROPERTY TAX AMOUNT PER CAPITA While ranking 3rd in size Scott County ranks fourth LOWEST among the eight largest metropolitan Iowa Counties in the County property tax per capita amount for Fiscal Year FY11. These figures are based on 2009 population estimates.
FY11 COUNTY PROPERTY TAX AMOUNT PER CAPITA WHERE SCOTT COUNTY RANKS AMONG ALL 99 COUNTIES COUNTY (per capita ranking in brackets) $672 ADAMS (1st) $635 CALHOUN (2nd) $624 PALO ALTO (3rd) $605 POCAHONTAS (4th) $596 RINGGOLD (5th) $391 STATEWIDE $275 ***SCOTT*** (91st) $271 WOODBURY (92nd) $263 LINN (93rd) $262 PAGE (94th) $260 WARREN (95th) $260 JACKSON (96th) $238 STORY (97th) $236 BLACKHAWK (98th) $234 SIOUX (99th) COUNTY PROPERTY TAX AMOUNT PER CAPITA Scott County has the 9th LOWEST county property tax amount per capita of all ninety-nine Iowa counties for Fiscal Year FY11
INTEREST INCOME TEN YEAR COMPARISON and FY11 BUDGET AMOUNT $2,000,000 $1,800,000 $1,885,460 $1,600,000 $1,400,000 $1,319,286 $1,200,000 $1,368,847 $1,000,000 $800,000 $709,515 $600,000 $919,511 $400,000 $322,673 $676,135 $150,000 $200,000 $496,870 $160,348 $0 This graph shows the wild ride of interest rates' impact on investment earnings by the County during the last ten years. Currently rates are at almost zero. FY06 4.213% FY07 5.059% FY08 3.781% FY09 - 1.69 % FY10 - .3811% FY11 - currently earning .375%
RECORDER INCOME TEN YEAR COMPARISON and FY11 BUDGET AMOUNT $2,000,000 $1,800,000 $1,600,000 $1,923,503 $1,487,184 $1,400,000 $1,209,530 $1,401,262 $1,200,000 $1,648,442 $1,394,097 $1,460,359 $1,000,000 $1,280,961 $1,154,872 $800,000 $600,000 $1,131,048 $400,000 $200,000 $0 This graph shows the impact of interest rate changes on real estate filings income by the Recorder's Office during the last ten years. This revenue source has been declining since FY06. We are projecting a slight increase for FY11.
RIVERBOAT GAMING INCOME TEN YEAR COMPARISON and FY11 BUDGET AMOUNT $1,000,000 $900,000 $800,000 $904,896 $700,000 $625,000 $919,864 $822,996 $600,000 $887,690 $789,210 $805,667 $500,000 $400,000 $815,524 $748,920 $300,000 $676,255 $200,000 $100,000 $0 Gaming revenue has been declining since FY05. For FY11 - FY15, we will loose an additional $53,180 per year due to a RIIF assessment from 2005 and 2006. Our FY11 budget projection of $625,000 should be very close. Riverboat Gaming income is used to support capital projects.
GENERAL FUND UNRESERVED ENDING FUND BALANCE TEN YEAR COMPARISON $6,954,514 $7,000,000 $6,072,072 $6,372,309 $6,003,152 $6,000,000 $5,857,816 $5,488,379 $5,590,875 $5,479,818 $5,000,000 $5,306,330 $4,637,761 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $0 The FY10 Fund Balance is not final, so we are reporting the balance last calculated when we re-estimated the FY10 budget. The Board's Financial Management Policy requires a 15% minimum General Fund balance.
Restricted Fund Balance $7,000,000 $5,857,816 $6,000,000 $6,003,152 $6,072,072 $5,408,899 $5,590,875 $5,194,643 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $663,173 $663,173 $663,173 $0 Restrictions included Forefited Assets, REAP, Justice Funds, Dare Funds
Wall of Savings FY10 Savings FY11 Savings (to date) $1,052,875 Personnel Supplies $21,918 $199,940 $221,858 *Wall also tracks productivity initiatives
FY12 Preparation Continue Wall of Savings / LEAN concept FY11 to date -$221,858 Continue to grow Health Insurance Fund Balance Savings to date (through 9/30/10) $706,443 Continue $575,000 property tax transfer to capital fund Departmental Budgets Non-Personnel (budget 0% growth from FY11 ) Adjust non-general fund budgets to expected revenues (i.e. Secondary Roads, MHDD) Authorized Agencies Require FY12 Budgets at 0% growth 1. 2.
FY12 Budget Issues Fund Balance Impact of segregating restricted funds Impact of fully operational SECC Operating Budget Operating Budget Negotiations Capital Budget IT Master Plan Funding Life Cycle Vehicle Replacement Schedule
FY12 Budget Issues Department Reports Secondary Roads Rock Issue Any others?
SCOTT COUNTY FY12 BUDGET PREPARATION CALENDAR OF EVENTS September 17, 2010 September 28, 2010 October 14, 2010/5:30 p.m. Initial Board of Supervisors discussion with County Administrator/Budget Manager on FY12 Budget October 21, 2010/ 3:30 p.m. FY12 Budget Orientation Session for County Departments and Authorized Agencies November 12, 2010 FY12 Budget Submissions Due FY11 Budget Amendment Submissions Due November 23, 2010 Draft Audit Presentation to the Board November 24, 2010 Capital Improvement & Vehicle Forms &FY12 County Departments Budgeting for Outcomes Due January 27, 2011 Presentation of County Administrator's Recommendation on FY12 Budget Publication of FY12 Budget Estimate and FY11 Budget Amendment January 27 March 3 Board of Supervisors Budget Review January 27, 2011 File Budget Estimate (based on budget requests) with County Auditor February 2, 2011 Publishing of FY12 Budget Estimate and FY11 Budget Amendment in North Scott Press (send info to paper on January 25) February 3, 2011 Publishing of the FY12 Budget Estimate and FY11 Budget Amendment in Quad City Times and Bettendorf News (send info to papers on January 25) February 3, 2011 Set Public Hearing for FY12 Budget Estimate and FY11 Budget Amendment February 17, 2011 Public Hearing on Budget Estimate 5:30 p.m. March 3, 2011 Adoption of FY12 Budget Plan 5:30 p.m. March 15, 2011 File Budget Forms with State Office of Management Organizational Change forms due into Human Resources Department and Administration FY10 End of the Year Report by Department Heads and Elected Officials
