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Measure 5 limits for those properties. State law says that local option levy proceeds are the <br />first to be reduced in the event of compression. <br />Table 11 - Estimated Revenue without Downtown Urban Renewal District <br />FY16 Tax Data, AFTER Discounts, Delinquencies, & State School Funding Formula <br />Taxing District <br />Eugene School District 4J - permanent rate <br />$20,000 <br />Eugene School District 4J - local option <br />(360,000) <br />Lane Community College * <br />70,000 <br />Lane Education Service District * <br />25.000 <br />Total Education <br />$245,000 <br />City of Eugene <br />$1,000,000 <br />Lane County - permanent rate <br />180,000 <br />Lane County - local option <br />0 <br />Eugene Urban Renewal Downtown <br />(2,015,000) <br />Eugene Urban Renewal Riverfront <br />0 <br />Total General Government <br />$835,000 <br />City of Eugene - Bond I <br />$40,000 <br />City of Eugene - Bond II <br />0 <br />Eugene School District 4J - Bond I & II <br />0 <br />Lane Community College - Bond II <br />0 <br />Total Bonds <br />$40,000 <br />TOTAL TAXES <br />$1,040,000 <br />* The other school districts that overlap with the Downtown District would experience <br />similar impacts to 4J for the school funding formula (described below), although the <br />specific financial consequences are not calculated in this Report. <br />In order to understand the Lane County Tax Assessor's analysis for 4J impact, there are <br />three factors to consider: <br />Revenue from 4J's permanent levy would increase by approximately $586,000, for a <br />net gain of approximately $20,000 after applying the State school funding formula. <br />(4J receives about 2.8% of the total State-wide funding.) This is the best -case <br />scenario that assumes all else is equal, and the State decides to provide more <br />funding for schools as a result of having more property tax revenue available. <br />2. 4J will lose about $360,000 of local option levy proceeds (after discounts and <br />delinquencies) if the Downtown District no longer collects tax increment funds <br />because of compression. The State funding formula does not apply to local option <br />levies, so the full impact of this reduction would be felt in 4J's budget. Both of these <br />estimates are based on FY16 tax roll information and would vary in future years <br />with changes in market conditions. <br />3. There is also a one-time impact. If tax increment collections are terminated, there <br />would be a return of any excess tax increment funds collected by the Downtown <br />District to the overlapping taxing districts. The amount returned will depend on <br />Report on the 2016 Amendment 22 <br />