Adopted FY 2016 - 2017 Budget - Laserfiche WebLink

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Information Technology SAN Network Server (1) o Parks and Recreation New Playground Equipment for Lake Concord Park Promenade o Transportation and Stormwater Projects: Concord Drive Drainage and Complete Street Improvements. Casselton Drive Drainage and Complete Street Improvements. o Water and Sewer Utility Various Water Main Replacements Rehabilitation of the Sausalito Lift Station Various Water Production and Reclamation Rehabilitation Projects Refurbish and Paint the Melody Lane Water Tower o Community Redevelopment Agency Infrastructure Improvements/Trail Connections Several appropriated projects from fiscal year 2016 will roll forward through amendment into fiscal year 2017 for completion outside of this budget document. These include: • Stormwater Fountain for Grassy Lake • Infrastructure Surtax Phase 3 of Road Rehabilitation Project • Oxford Road Drainage and Complete Street Improvements Property Taxes The City's taxable value "base" has appreciated 5.57% into fiscal year 2017 over fiscal year 2016. This is the fourth consecutive year of positive growth since the "Great Recession" and the second year averaging 5% without significant additions from new construction. That said, the total taxable value now is $1.2 billion and just exceeds the levels that were true back in fiscal year 2006. Much ground still needs to be gained before the City will be fully recovered. Budget Year, Taxable Value in Millions, % change fiscal year 2006, taxable $1,124 million, 8.8% change fiscal year 2007, taxable $1,414 million, 25.9% change fiscal year 2008, taxable $1,598 million, 13.00% change* fiscal year 2009, taxable $1,504 million, (5.9)% change** fiscal year 2010, taxable $1,320 million, (12.2)% change*** fiscal year 2011, taxable $1,146 million, (13.18)% change*** fiscal year 2012, taxable $1,073 million, (6.37)% change*** fiscal year 2013, taxable $1,033 million, (3.73)% change*** fiscal year 2014, taxable $1,057 million, 2.27% change fiscal year 2015, taxable $1,094 million, 3.52% change fiscal year 2016, taxable $1,148 million, 5.12% change fiscal year 2017, taxable $1,212 million, 5.57% change * HB1B - State Legislature mandated property tax cut ** Amendment 1 - Property exemptions, real estate decline, and caps on growth in millage rates ***Economic Recession page 16