TO: Trustees and Board Members of Fire Districts FROM: Gallatin County Finance Office RE: FY 2021 Budget - Maximum Mill Levy Date: August §, 2020 ‘Attached is the spreadsheet showing our calculations for the Maximum Mill Levy allowed by State Statute MCA 15-10-420. Please review all information prior to ‘sending your written response to the County Finance Office. ‘The following calculations are based on the Maximum Mill Levy and the budget you requested. ‘Special District Name: Story Mill Fire Maximum Mills 46.54 Mill Value 825 REVENUE: Maximum Taxes to be Levied (29,065 Other County - Taxes to be Levied ? BondiDebt Levy Non-Tax ° Cash 959 TOTAL 30,024 BUDGET PROPOSED BUDGET 29,488 Cash Reserved mi 18m% Amount Available (short) a Calculations, based on current information, shows your budget may need changing increase or (decresse) based on state law. Ifthe calculations show a decrease you will have to decrease the budget. Please provide the following. inwriting. * Resolution Indicating the bosrds decision to not levy the maximum mils orto levy | rye -pROPOSED | tre maxinum mio vith on opting rceveof oes * Indicate in your information where you want the budget to be amended -Personnel| tine mancimum numbor of mile allowed ‘Operating Expenses or Capital Outlay / Capital Reserves; by state law. All changes need to be to the Finance Office, 311 West Main, Room 304 A, by ‘Aug, 19th, 2020. The Commission will adopt the Final Budget on Tuesday, August 25th at 9:00 a.m. {Fyou want change his buagel pee It you have any questions please call the Finance Office at 582-3094 or mall ust ‘cana your equnstin wrtna ty Assuet justine.swanson@gallatin.mt.gov or kate.argall@gallatin.nt.gov. 1, 2020 so Ican present the budget to the County Commistson. Calculation of MAXIMUM Debt Per State law of 1.1%: Market Value 34,588,028 Maximum allowed Debt (Market Value times 1.1%) $ 380468 ‘Cash has been reduced by ~> $ - for outstanding warrants 1712020 ‘Special District Mil Levies 2024 FiresDetermination of Tax Revenue and Mill Levy Limitations ‘Section 18-10-420, MCA FYE June 30, 2024 Gallatin County Fire Districts Fire District: Story Mill efarance ar amet a ne ‘tow cote ‘GY Entae Ad valorem tax revenue ACTUALLY assessed inthe erorygar ‘rom Prior Voor’ form Line 12) ‘ ase] 2480 2) Add: Currant yor efiaion sentient @ 1.05% * Ea (©) Surract: Ad valorem tax revenue ACTUALLY assased inthe rir wear for Class tan property, (et and gross proceeds) rom Prior Years form Line 20}-(ener as negate} paid re cr antena sas ENTERING TOBLE VALUES. (©) _Entar"Toot Tenable Van's tom Deperinet of Revers Corto Terabe Van Information for, tine 2 s sas] 3 eatsso (© susrect: otal incremental Valu ofl axnerementfnanclng tt (TF Diet) ‘tom Department of Revenue Cert Taxable Valuation Infomation form, (ootorae nape) b Al a (7), Taxable value per mil (aftr adjustment for removal of TIF per mil incremental district valve) haan Bn ses (@) Subtract: Total Value of Nowly Taxable Property’ - from Department of Revenue ‘arte Trae Vautoniotooneon tr ower sap) s en) o ‘Subtract: "Taxable Value of Net and Gross Proceeds, (Class 1 & 2 properties) = from Deparment of rena Cred Taraie Vato iormaton frie ¢ (ctor as nepeve) : |" . , — ekg Ate Texble vai er =_es atiay CURRENT YEAR eta ey ma 2) {2 CURRENT YEAR caletaavalro tax reve as. CURRENT YEAR AUTHORIZED LEVV/ASSESSMENT. (3) _Extrttal amber cay torre re por (rom Prior Years for Lin 2 200 00 sekf Sy Tota curren yar autor il ry, eg Por Yar cary oat = 5) reales ax revo anenennt : wdiS)g, Tut curt yor sore ad vloro ane (CURRENT YEAR ACTUALLY LEVIEDIASSESSED Enter aber fie cane cor yet (18) (ember stout equa! tt gente it whch nua te numberof czy ootard Ini actey pee et el ppeves suet yar budget document Gat Tle vd or areas mile inpean nthe cate yee) sass] sas diag Tot verona a sty seed a en year naa /RECAPITULATION OF ACTUAL: lity valorem tx revenue tua asened === (99) Aloe a ever acta sna for ey taste ropery s ae ao) Réslorem rover sty satan for Cle 18 2 propane (rt rae proces) ely Tt evr trove actus aasested in cut yaar “ott cay forward its ta maybe le ine abaequet yer «cZ2%q.ombersoud be eqn tor rsa ten zo, (nega) mbar ada a ver ton cesta aoe aus noe vom : : Veta a Aan es : ; Pema adel ny 3 ; Tot ose te etd s aec MONTANA Form AB-72T Rev. 3-12 2020 Certified Taxable Valuation Information {15-10-202, MCA) Gallatin County STORY MILL FIRE DISTRICT Certified values are now available online at property.mt.gov/cov 1. 2020 Total Market Value’ 2. 2020 Total Taxable Value”. 3, 2020 Taxable Value of Newly Taxable Property. 4. 2020 Taxable Value less Incremental Taxable Value®. 5, 2020 Taxable Value of Net and Gross Proceeds* (Class 4 and Class 2 6. TIF Districts Tax Increment Current Taxable Base Taxable Incremental District Name Value* Value Value S$ 34sse,028_ 6,593 624,530 Total incremental Value _$ Preparer Angie DeMars Date 8/3/2020 ‘Market value does not include class 1 and class 2 value “Taxable value is calculated after abatements have been applied “This value is the taxable value less total incremental value of all tax increment financing districts “The taxable value of class 1 and class 2 is included in the taxable value totals For Information Purposes Only 2020 taxable value of centrally assessed property having a market value of $1 million or more, which has transferred to a different ownership in compliance with 15-10-202(2), MCA. |. Value Included in "newly taxable” property $ a Il, Total value exclusive of "newly taxable" property $