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City of Eugene, Oregon Budget Summary <br />__ <br />Impact of the Budget on Taxpayers <br />The City of Eugene levies its permanent tax rate of $7.0058 per $1,000 of assessed value; <br />although the effective tax rate paid in FY08 is expected to be about $6.90 per $1,000 of assessed <br />value due to the impact of the Urban Renewal Agency valuation and overlapping tax rates. In <br />addition, voters have approved: <br />A four-year local option property tax levy for library operations was approved by voters in <br />November 2006 and will become effective July 1, 2007 (FY08). The levy provides $10.8 <br />million over four years to support the City's library system. For FY08, the estimated tax rate <br />for the Library Local Option Levy is $0.25 per $1,000 of assessed value, which is a reduction <br />of about half from the previous levy amount. <br />Voters also authorized issuing general obligation bonds that are repaid with property taxes in <br />four areas: <br />• In September 1995, $19 million was approved for construction of the Emergency <br />Services Center located at 2nd Avenue and Chambers Street. <br />• In November 1998, $25.3 million was approved for parks and open space projects. <br />• In May 2002, $8.7 million was approved for construction of a new downtown fire <br />station located at 13th Avenue and Willamette Street. <br />• In November 2006; $27.5 million was approved for parks, athletic fields, and open <br />space preservation: <br />The estimated tax rate for debt in FY08 is $0.56 per $1,000 of assessed value. <br />Estimated total City taxes for the typical home, which include voter approved levies and the <br />Urban Renewal District, will decrease by 7.3% or $95 next year. The main reasons for the <br />decrease are the expiration of the Youth and School Services Levy and the reduction of the <br />Library Levy amount. <br />City and Urban Renewal Taxes for Typical Home <br />FY07 FY08 Est. <br />City Permanent Operating Levy $ 988 $ 1,017 <br />Library Local Option Levy (FY08-11) 68 37 <br />Youth and School Services Levy (FY04-07) 123 - <br />Total City Operating Taxes 1,179 .1,054 <br />City Debt Taxes 52 83 <br />Total City Taxes 1,231 1,137 <br />Urban Renewal Agency Taxes 64 63 <br />Total Taxes $ 1,295 $ 1,200 <br />Median assessed value ofsingle-family home in Eugene * $ 143,135 $ 147,429 <br />* The middle value of all single family homes, ordered from lowest. to highest value. FY07 <br />value per Lane County Assessment & Taxation. FY08 value assumes a 3% increase in value. <br />19 <br />