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Property Tax Levy Information
<br /> Assessed Value: Dollar value of all taxable property in Everett as determined by the County Assessor
<br /> Levy Amount: The amount of property tax revenue that the City will receive to fund public services in a given
<br /> year.
<br /> Levy Rate: The Levy Rate is the outcome of the relationship between the City's assessed value and levy
<br /> amount. It is the dollar amount per$1,000 of assessed value that produces the Levy Amount when multiplied
<br /> by the result of dividing Assessed Value by 1,000. In math terms:
<br /> Levy Rate=[Levy Amount/(Assessed Value/1,000J]
<br /> Levy Rate Calculation Example (2020 Estimate):
<br /> $1.90= [$38,193,364/(20,128,701,484/1,000)]
<br /> Or
<br /> $1.90= ($38,193,364/$20,128,701)
<br /> 2020 Taxes
<br /> Assessed Value 20,128,701,484,'
<br /> Current Regular Levy Amount 37,715,835.00
<br /> 2020 Levy Rate 1.90
<br /> Max Levy Rate 3.60
<br /> 2021 Projected Deficit 12,870,000
<br /> Levy increase Needed to Close 2021 Projected Deficit $ 0.64
<br /> The tables below show the incremental increase in property tax revenue on the left and the incremental
<br /> increase in cost to the median value homeowner for levy lid lift amounts in $0.10
<br /> Lift Amount Incremental Revenue Lift Amount $389k Median Home
<br /> $ 0.10 $ 2,012,870 $ 0.10 $ 39
<br /> 0.20 $ 4,025,740 0.20 $ 78
<br /> 0.30 $ 6,038,610 0.30 $ 117
<br /> 0.40 $ 8,051,481 0.40 $ 156
<br /> 0.50 $ 10,064,351 0.50 $ 195
<br /> 0.60 $ 12,077,221 0.60 $ 233
<br /> 0.70 $ 14,090,091 0.70 $ 272
<br /> 0.80 $ 16,102,961 0.64 $ 249
<br /> 0.90 $ 18,115,831 0.90 $ 350
<br /> 1.00 $ 20,128,701 1.00 $ 389
<br /> 1.10 $ 22,141,572 1.10 $ 428
<br /> 1.20 $ 24,154,442 1.20 $ 467
<br /> 1.30 $ 26,167,312 1.30 $ 506
<br /> 1.40 $ 28,180,182 1.40 $ 545
<br /> 1.50 $ 30,193,052 1.50 $ 584
<br /> 1.70 $ 34,218,793 1.70 $ 661
<br /> gm Alternative Service Delivery/Funding Models Wage
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