FY 2007 Proposed Bydget Summary - Laserfiche WebLink

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City of Eugene, Oregon Ten-Year Trends: Trend in City Taxes Budget Summary. __ The Ten Year History of City Taxes chart shows the City of Eugene Operating and Bonded Debt taxes on a hypothetical home over the last ten years. Beginning in FY05, the median or typical house value is reported instead of the previous history of reporting the average house value. The median house value is consistent with other reported measures and is not influenced by extreme house prices at the upper end of the house value spectrum. The passage of Measure 50, a revised property tax system approved by voters in 1997, resulted in a significant decrease in taxes in FY98. Separate local option property tax levies for Library and Youth Services were implemented in FY00 and FY02 respectively. While these levies expired in FY03, an enhanced Library Levy and a Youth and School Services Levy were approved by voters in FY03 for implementation in FY04-FY07. This hypothetical house, which is assumed to have no improvements or other changes to the .property, is expected increase 1.2 percent ($16) in City taxes (including Urban Renewal taxes) in FY07. Ten Year History of City Taxes in Dollars Assessed Value City Fiscal of Typical Operating Bonded Debt URA Total City Constant Year Home Taxes Taxes Taxes Taxes FY07 $* 1998 $115,520 $810 $68 $878 $1,040 1999 119,502 837 38 875 1,019 2000 123,087 901 41 942 1,067 2001 135,900 993 95 1,088. 1,191 2002 143,300 1,081 71 1,152 1,239 2003 148,300 1,109 73 ~ 1,182 1,244 2004**________ ______ 154,200 ____ _______1,300 ____ _________64 ______ $78 ____ 1,442 1,485 2005*** 133,496 1,118 62 78 1,258 1,258 2006 137,961 1,155 63 63 1,281 1,236 2007 Est. 142,100 1,185 61 51 1,297 1,229 .Constant $ determined using the State of Oregon forecast for U.S. CPI-U. ** First year of including Urban Renewal Agency tax data. *** Beginning in FY05, the median house value is used instead of the average house value. 30 __ _ _