Moline City Council Budget Work Session - October 26, 2023

But it would be an increase that's proposed on an average residential on $32.

The next chart shows our building limits.

And if you look at 22, 22 is the year it's collected in 23 values.

And so there you've got the 50 million dollars of new growth.

And so far this year come on board and it's never here out.

We've got significant value already.

So it's nice if you can look at that and have some value.

And then I'm not going to say a lot of times you want to be paid them to your own.

As we talked about the revaluation, every year we do a little um standing shot of 101.

In fact, I think your guys' points might be on this properties.

They're not in order, so you'll have to do a search.

But um, you can see on the right hand side all the differences in the year, it is all report, and there is quite a few of these properties that are actually home down in the right of all the changes in the lot of people's properties.

So all four told.

Commercial property overall with the learning rate that we're proposing, the total of the bottom row, about 1.1% citywide or taxing up.

But our standard on this one unfortunately is very few property on those only pay two years.

And so we're saying flock.

But I like to use the same properties all forward every single year so we can kind of show you all the and then the next chart.

This is the different snapshot.

This is on the current year, not next year, because we do not have a learning rates of all the other tax involved yet.

But just for comparison, so you kind of have a field of where we are at the city of Mowyn's taxes for residential and commercial are both lower than our surrounding communities or an average residential property and an average commercial.

And at our $32 row, if you add that a month like residential, $3,326, you have $32 now for this year.

We're still going to be okay.

Um is that a similar number just for our residents in the South Home?

Which is about the city.

No, I'm sorry, I'm trying to think about one.

I didn't have to change at all.

I if it was one of our contracts of certain yeah, and I think that is very questionable.

And then one of the last charts here to catch on and there's one chart, right?

And then ours just on the chart.

I just want to give you kind of what would be the prices or two hours.

And what this chart shows is our property tax collection and our level rate over the last year.

And I think we briefly talked about this in one of our maybe round data.

Well, what is shown here is that we're supposed to change our values, total values in the city went up 29.2%.

I'm sorry, it didn't show that.

Um really all changes over on the right hand side.

Our values went up 29.2, but our taxes we only took advantage of about 12% of that total growth, and as we move your own there, that's something that we need to decide where are we comfortable, where is it available, what portion of the total growth do we need to be taking advantage of so that you know we can a DK for all the data operating and fund at the proper level this year.

As you know, we are going potentially taking 63% back growth, so it's a little much higher than what it has been in the app.

It's just to kind of show you as we as we move the movement and talk about that.

So again, just prevent the understanding in my brain, right?

This this trend that's kind of been all over the place.

Actually, we were fairly steady plus years, but we're up the percent change here for the proposed budget, but that is because the CIP is dependent upon the PCI index recommendations for what we need to do to maintain maintain, let alone improve our code system.

Like that is the driver for this particular number, right?

Correct.

Yes, and there's a second patch of that.

Well, this is showing the growth in actual amount.

If we never capture that growth, this just becomes more regressive and the rest of the rest of the time.

And I think we we are we've been taking advantage of that, and look at our buttons rate percentage we have in much we use, especially with the retirement tip one a lot of us very aggressive at how some of that's fun now.

And that when you talk about the level rate, you can see that on this chart as well.

So go to common hand, we can for that levy rate and so within this team, it has been tied to $2.08, and now we'll potentially we'll be able to do an hour eight.

I mean, you're no right in the right shift overall.

We want to see your growth happening, taking a bag with some of that growth, some city state percent.

So our growth is actually funding the way it works what's happening.

We have no growth, not being able to invest this couple of your planning going forward.

That's you know, maybe beyond just our well, because our role is a gift, like that's one of the change changes that we brought, and then it's way that's kind of what we're thinking about longer term, but we could do 26 and 0.7 keeping up the pace that people are starting to become asked them to move infrastructure, but it's sidewalks with some roads and so on.

So big plan, but basically what's been described.

But this is the direction of all cities, but it's ones like work.

Well four four.

This is the listing, it's just kind of showing the changes in the value.

And lifted over on the I think having half that sheet is all the values of our chip.

I just wanted to say that 30 million dollars and full tip implement at those tips retire, and it will be over a period, even years.