Finance Department

Overview of 2014 Budget and Levy and Related Impacts, December 10, 2013

 

Net Tax Capacity/General Fund Budget History

Rogers Net Tax Capacity increased by 31.16% between 2007 and 2012. The General Fund Budget increased by 10.49% during that time. Over the past 3 years, NTC increased 37.16% while the General Fund Budget increased 13.62%.

 

 

 

 

 

 

 

 

 

 

 

Tax Rate Comparisons

Rogers and Comparison Cities

2008-2013 and Proposed 2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Property Tax Rate Comparisons

Proposed 2014 Tax Rate

 

 

 

 

 

 

 

 

 

 

 

 

 

Property Tax Bill Comparisons

The chart to the left shows the 2013 Property Tax Bill Comparisons. Comparisons for 2014 are not yet available.

 

 

 

 

 

 

 

 

 

 

Fiscal Disparities Overview

The Fiscal Disparities program is mandatory program enacted by the State Legislature in an attempt to address fiscal concerns within the seven‐county Metro area and to equalize tax base by requiring that all communities in the area contribute 40 percent of the growth in their commercial/industrial tax base after 1971 to a regional pool. The tax base is then distributed to cities.

Rogers is, by far, the largest net contributor (net loser) to the pool in terms of the percentage of total tax base lost to the program.

In 2011, Rogers contributed nearly 20% of it's tax base to the pool on a net basis, resulting in a local tax rate that was 34.4% higher than if there were no Fiscal Disparities program.

Fiscal Disparities Impacts on Rogers in 2014

For Pay 2014, the Fiscal Disparities Program will have the following estimated net effects on Rogers:

  • Reduction of $2,880,179 or 15.69%, in taxable tax capacity
  • Increase of 19% in the City’s property tax rate
  • $1,167,538 loss in City revenue (at 40.357% tax rate)

End