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balances. Applying the procedure results in a <br />planned use of Transportation reserves of $16 <br />million for 2015. <br />FEDERAL REVENUES <br />The 2015 budget includes $86 million in <br />federal revenue. <br />The Housing and Redevelopment Authority <br />(HRA) provides affordable housing to 6,800 <br />low-income households in the region. The <br />2015 budget for the HRA is $62 million. <br />Federal revenues totaling $53.5 million are <br />passed through as rental assistance payments <br />directly to landlords, and $4 million is used <br />for administration. Transportation receives <br />$28.5 million to support operations. <br />PROPERTY TAXES <br />Metro area property taxes are split among <br />several different governmental organizations. <br />Three organizations that receive the greatest <br />portion of metro area property taxes are <br />counties, cities, and school districts. The <br />Council typically receives about 2% of the <br />revenue from property taxes paid by metro <br />area residents. <br />Where your property tax dollar goes <br />loom -} <br />111 Mira.111.11. <br />L111809 - <br />V <br />Source <br />MN Department of Revenue, Certified Payable 2014 Property Tax Levies <br />PROPERTY TAX LEVY <br />The 2015 property tax levy, payable in 2015, is <br />$80.4 million. Property taxes are primarily used <br />to pay debt service on bonds issued to support <br />the Transit and Parks capital programs and <br />to provide pass-through grants to local <br />communities under the Livable Communities <br />Act. <br />2015 Property Tax Levies: $80.4 Million <br />Parks Debt Service $6.4 <br />8% <br />TBRA $5.0 <br />LCDA $11.3 <br />6% <br />54% <br />General <br />Purposes <br />$14.5 <br />18% <br />Transit Debt <br />Service $43.2 <br />LIVABLE COMMUNITIES FUND <br />This fund consists of three active accounts: the <br />Local Housing Incentives Account (LHIA), the <br />Tax Base Revitalization Account (TBRA), and <br />the Livable Communities Demonstration <br />Account (LCDA). Together, they support <br />community investments that revitalize <br />economies, create affordable housing, and <br />connect land uses and transportation. In <br />addition, State Statute requires $1 million from <br />the General Purpose levy be transferred to the <br />LHIA. <br />RIGHT-OF-WAY ACQUISITION LOAN FUND <br />The levy does not include an amount for the <br />Right -of -Way Acquisition Loan Fund (RALF), <br />which has sufficient funds available to meet <br />program needs for 2015. The RALF program <br />provides zero -interest loans to local <br />governments to acquire right-of-way along <br />highway corridors in advance of development. <br />LEVY <br />The payable 2015 levy of $80.4 million <br />represents a 0.5% increase over the amount <br />payable in 2014. Under the levy, a metro area <br />home with an estimated value of $250,000 will <br />pay a Council -related property tax of approxi- <br />mately $68 inside the transit taxing communities <br />and $29 outside the transit taxing communities. <br />10 <br />