2008/10/15 Council Agenda Packet

CITY OF EVERETT FISCAL ANNEXATION ANALYSIS 6.3 Operating Revenue Analysis Tax and fee revenues are estimated based on the changes in the components of the City's tax base resulting from growth. Components of growth which could influence revenues include population, employment, land use changes, or base inflation in certain components of the tax base. Each of the City's tax and fee revenue sources is separately estimated by assessing changes in the tax base and applying current tax and fee rates to generate revenue projections. Exhibit 16 and Exhibit 17 show estimated revenues for Everett for Scenarios 3 and 4 respectively, assuming annexation in January 2009. The 2008 estimates are based on the City's current budget and do not include annexation. Exhibit 16 Scenario 3 - Estimated Revenues for City of Everett Assuming Annexation in January 2009 (Millions) 2008 2010 2015 2020 2025 Property Tax/Road Levy 26.29 30.52 35.38 39.61 44.12 Sales Tax 25.23 29.57 39.87 50.09 64.38 Utility Taxes 15.71 17.91 22.82 28.03 34.42 Emergency Management Services Levy 4.25 8.46 9.80 13.94 20.13 Internal Charges for Service 3.21 3.58 4.52 5.57 6.85 Fines and Forfeits 2.17 2.71 3.42 4.22 5.21 Other Charges 1.95 2.34 2.95 3.65 4.50 Gas Tax(Street Maintenance) 1.74 2.10 2.65 3.27 4.04 Criminal Justice Sales Tax 1.64 1.98 2.50 3.09 3.81 Ambulance Transport Fees 1.60 1.84 2.32 2.87 3.53 Building Permits 1.41 2.23 2.84 3.49 4.30 Natural Gas Use Tax 1.34 1.43 1.70 2.02 2.40 Recreation Charges 1.34 1.54 1.94 2.39 2.95 Liquor Board Profits and Excise Tax 1.20 1.43 1.80 2.23 2.75 Gambling Tax 0.88 0.95 1.13 1.34 1.59 Property Management Revenues 0.61 0.65 0.77 0.92 1.09 Planning and Plan Check Fees 0.39 0.54 0.71 0.87 1.07 Admissions Tax 0.32 0.34 0.41 0.49 0.58 Leasehold Excise Tax 0.31 0.34 0.40 0.47 0.56 Transit Tax 0.17 0.18 0.23 0.28 0.35 Grants&Other Intergovernmental 0.09 0.11 0.14 0.17 0.21 Business Licenses and Permits 0.03 0.03 0.04 0.05 0.06 Total 107.84 129.81 163.71 201.80 251.46 Source:Berk&Associates analysis,2008 IL Final Report:October 2008 Page 27