budget hearing march 29th final1

8/2/2019 Budget Hearing March 29th FINAL1

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2012-2013

Fiscal Budget Presentation


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Presentation Components

The Re-valuation Process

What is the Mill Rate?

How do we maintain the level of service that we

currently have?

Initiatives in the new budget


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The Re-valuation Process Re-valuations occur every 5 years per Connecticut State Statute

Re-valuation is a self leveling instrument designed to bring

property values in line with current market conditions

2011 was a re-valuation year for the Town of Seymour

Last re-valuation was 2005 (extension in 2010)

Vision Appraisal was hired to conduct re-valuations

Most residential property appraisals decreased


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The Assessor compiles an annual Grand List The Grand List is the aggregate valuation of taxable

property within a given town.

Gross numbers not reflecting exemptionsGrand List Item 2010 2011

Residential $ 1,108,479,570.00 $ 931,066,900.00

Commercial/Industrial

$ 228,419,710.00 $ 203,288,540.00

Personal Property $ 60,652,900.00 $ 59,224,550.00

Motor Vehicle $ 104,045,450.00 $ 108,227,550.00

$ 1,501,597,630.00 $ 1,301,807,540.00


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71%

16%

5% 8%

Seymour Grand List 2011

Residential74%

Comm/ Ind15%

Pers Prop4%

MotorVehicle

7%Seymour Grant List 2010

SHIFT IN TAXBURDEN


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-

100,000

200,000

300,000

400,000

500,000

600,000

700,000

800,000

900,000

1,000,000

1,100,000

1,200,000

ResidentialComm/ Ind

Pers PropMotor Vehicle

Residential, 1,108,480

Comm/ Ind, 228,420

Pers Prop, 60,653Motor Vehicle, 104,045

931,066

203,289

59,225 108,228

Seymour Grand List 2010 and 2011 Revaluation(in thousands)

GL 2010

GL 2011


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The Mill Rate A mill is equal to $1.00 of tax for each $1,000 of

assessment

The mill rate is calculated and reflected on your Julytax bills using the October Grand List from theprevious year (2011)

2011 - 27.62 2010 - 26.78 2009 - 25.8 2008 - 25.52

Last years budget

with this yearsMill Rate = 31.95


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Residential,27,534,465.38

Comm/ Ind,5,581,310.55

Pers Prop,1,488,349.48

Motor Vehicle,2,604,611.59


Comm/ Ind,

5,953,397.92

Pers Prop,1,860,436.85


The effect on lastyears Budget with the

reVal Grand List

Comparing last years budget with taxes generated from last years Grand List

Comparing last years budget with taxes generated from this years Grand List


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Comm/ Ind,5,946,381.75

Pers Prop,1,585,701.80


The effect on Thisyears Budget with

Last Years Grand List (Before ReVal)

Comparing this years budget with taxes generated from last years Grand List

Comparing this years budget with taxes generated from this years Grand List


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Objectives to maintain thecurrent level of service

Maintain infrastructure Preserve safe environment Develop plan for disaster response

Prepare to face the challenges for the future Manage debt service maintain AA- Develop a 5 year and a long term capital plan to distribute fiscal

budgetary impact avoiding spikes and stabilizing mill rate

Set goals for educational excellence Structure programs for economic development Forge bonds through community activities


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INITIATIVES Bring in new businesses Create new jobs Provide economic vitality A more professional approach to government Reorganize government for additional efficiency Human Resources Technology Capital Plan Road Program


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24% will payless in taxes

35% of peoplewill pay

$0-200 morein taxes

20% will pay$200-$400

more

4% will pay $400-$500 more

11% will pay

$500-$1000 more

6% will pay

$1000+

Effect of ReVal on Residential Taxdollars

Current ProposedMill Rate:

33.92


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Town of Seymour Budget Hearing 2012

Board of Education Budget IncreasesReceived in the last 3 years

2009 0% $0.002010 0% $0.002011 2.3% $677,312.00


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Departments that show a significantincrease over the previous year budget

Board of Finance 10.20% $ 6,367.00Probate Court 8.33% $ 1,000.00Selectmans Office 21.29% $41,266.00Economic Development 67.42% $30,000.00

Economic Development Commission 130.82% $20,800.00Registrars of Voters 11.46% $ 8,800.00Town Counsel 15.00% $30,000.00Town Computers / Data Processing 218.47% $96,125.00Town Contributions-Misc. 70.44% $11,500.00Town Contributions-Recreation 43.48% $ 7,500.00

Emergency Management 86.20% $10,629.00Fire Department 13.83% $51,613.00Dog Warden 11.88% $ 4,450.00


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Departments that are fixed costs in the budget

Personnel Benefits Sick Pay 2.53% $ 4,465.00Health Insurance 8.91% $175,183.00Social Security 0.41% $ 1,249.00Retirement 8.58% $ 68,793.00

Longevity 2.97% $ 2,161.00Town Insurance 9.61% $119,371.00Capital Reserve 100% $100,000.00Town Contingency 5.70% $100,000.00Debt Service -0.31% $-15,189.00



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Departments that show a 0% increase or a decreaseover the previous year budget

Planning & Zoning -1.16% $ -250.00Town Meetings Public Hearings 0% $ 0.00Town Treasurer 0% $ 0.00Assessors Office -36.07% $-109,124.00Printing & Legal Ads 0% $ 0.00Inland/Wetland -65% $ -16,470.00Conservation Aquifer Protection Agency 0% $ 0.00Board of Zoning Appeals 0% $ 0.00Town Planner 0% $ 0.00Town Engineer 0% $ 0.00Valley Emergency Medical Service 0% $ 0.00Lake Authority -0.15% $ -20.00Water-Fire Hydrants 0% $ 0.00

Highway Materials -1.73% $ -2,907.00Street Lighting -2.94% $ -5,000.00Services to the Elderly -11.46% $ -17,381.00Culture & Arts Commission -6.71% $ -2,800.00Parks -3.38% $ -4,007.00Valley Council of Governments -4.93% $ -527.00


budget hearing march 29th final1

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