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HomeMy WebLinkAbout2014 Property Tax ReportCity of South Bend, Indiana 2014 Property Tax File (2013 pay 2014) December 31, 2014 Schedule No. Page Numbers Description -- 1 Index 1 2 Property Tax Collections - Comparative Years 2 3 Property Tax Collections - Graph 3 4 Property Tax Trends - All Funds 4 5 Property Tax Trends - Civil City Funds 5 6 Property Tax Trends - TIF Funds 6 7 Property Tax Collections vs Levy 7 8 Property Taxes Receivable - CAM 8 9 Property Taxes Budget vs Collections 9 10 2013 Pay 2014 Property Tax Collections - City 10 11 -12 2013 Pay 2014 Property Tax Collections - TIF 11 13 -14 Estimated Property Tax Collections Worksheet 12 15 -16 Property Tax Trends 13 17 Property Tax Rate Chart 14 18 Property Tax Rate and Levy History 15 19 Net Assessed Valuation Detail - 2012 pay 2013 16 20 Net Assessed Valuation Detail - 2013 pay 2014 17 21 Assessed Valuation Trends 18 22 Net Assessed Valuation Trends City of South Bend 1/3/2015 Page 1 Fund Name Fund No. Actual 2013 /Pay 2014 Collections City of South Bend, Indiana Property Tax Collections - Comparative Years December 31, 2014 Actual Actual Actual 2012 /Pay 2013 2011 /Pay 2012 2010 /Pay 2011 Collections Collections Collections Actual 2009 /Pay 2010 Collections Actual 2008 /Pay 2009 Collections Actual 2007 /Pay 2008 Collections Actual 2006 /Pay 2007 Collections Civil City General Fund 101 $36,708,989.23 $36,251,396.68 $39,368,430.88 $38,514,549.66 $39,814,543.36 $41,760,551.78 $50,966,189.00 $48,720,726.00 Parks & Recreation 201 $7,365,387.92 7,207,059.75 7,824,056.13 7,613,760.39 7,775,284.24 7,723,389.12 8,473,456.00 8,271,741.00 Studebaker Corridor Debt 310 0.00 0.00 0.00 0.00 0.00 0.00 0.00 11,590.00 College Football Hall of Fame 313 497,767.83 1,268,178.59 1,133,205.12 1,549,953.75 1,516,486.91 1,180,901.15 1,513,804.00 1,127,140.00 Cumulative Capital Development 406 430,785.89 463,331.15 517,710.39 540,453.72 604,214.32 722,483.79 972,798.00 989,824.00 Fire Pension 701 0.00 0.00 0.00 0.00 0.00 247,165.62 1,646,881.00 1,536,839.00 Police Pension 702 0.00 0.00 0.00 0.00 0.00 399,267.00 1,626,919.00 1,380,555.00 Total - City 45,002,930.87 45,189,966.17 48,843,402.52 48,218,717.52 49,710,528.83 52,033,758.46 65,200,047.00 62,038,415.00 Tax Increment Financing Airport TIF District 324 14,284,734.43 13,340,353.87 11,631,287.13 11,187,767.66 11,421,007.24 10,087,422.62 10,842,312.26 8,851,076.92 Sample Ewing TIF 414 0.00 0.00 0.00 0.00 0.00 0.00 0.00 778,093.13 South Bend Central TIF District 420 4,309,726.91 2,590,808.06 3,671,478.32 3,633,473.20 3,915,158.32 3,420,958.84 3,882,883.92 3,276,168.69 West Washington TIF District 422 580,987.35 493,608.45 422,714.50 431,085.39 631,344.95 228,704.14 360,629.23 287,094.73 Central Medical TIF District 426 851,210.84 1,221,676.17 1,606,914.83 1,704,238.37 1,759,028.21 1,765,934.06 921,967.21 928,112.55 Northeast TIF District 429 1,568,239.76 841,627.37 1,351,048.08 715,062.50 181,266.08 14,133.72 22,191.42 13,467.51 Southside TIF District #1 430 2,379,211.99 2,404,415.84 2,466,202.75 1,808,952.25 2,449,934.15 1,644,200.70 357,351.62 457,985.43 Erskine Commons TIF District #2 (1) 431 0.00 0.00 0.00 784,372.59 3,140,749.75 2,837,842.49 1,240,194.04 2,890.85 Erskine Village TIF District #3 (2) 432 9,175.08 1,311,128.78 0.00 1,603,182.09 1,858,426.55 1,900,860.36 1,534,115.47 775,621.72 Douglas Road TIF District 435 321,894.56 323,938.75 285,713.22 306,053.20 273,511.59 187,247.91 125,293.98 13,940.78 Northeast Residential TIF District 436 2,725,908.77 2,262,764.70 2,514,047.92 2,446,102.90 1,815,828.92 0.00 0.00 0.00 Airport Urban Enterprise Zone 454 0.00 0.00 111,721.26 123,164.82 132,019.50 169,410.67 0.00 0.00 Total - Tax Increment Financing 27,031,089.69 24,790,321.99 24,061,128.01 24,743,454.97 27,578,275.26 22,256,715.51 19,286,939.15 15,384,452.31 Grand Total $72,034,020.56 $69,980,288.16 $72,904,530.53 $72,962,172.49 $77,288,804.09 $74,290,473.97 $84,486,986.15 $77,422,867.31 (1) TIF tax increment eliminated for 2011 /pay 2012 and thereafter (2) TIF tax increment eliminated for one year, 2011 /pay 2012. Available for 2012 /pay 2013. Redevlopment Commission released TIF for 2013 /pay 2014. Actual collections include delinquent taxes from prior tax periods. City of South Bend 1/3/2015 Page 2 City of South Bend, Indiana Property Tax Collections - 2013 pay 2014 December 31, 2014 Fund Name General Fund Airport TIF District Parks & Recreation South Bend Central TIF Northeast Residential TIF Southside TIF District Central Medical TIF Northeast TIF Hall of Fame Bond Other Grand Total Central M Southside District Northeast Residential TII South Bend Centra TIF Parks & Recreation YTD Percent Collections of Total $36,708,989.23 50.96% 14,284,734.43 19.83% 7,365,387.92 10.22% 4,309,726.91 5.98% 2,725,908.77 3.78% 2,379,211.99 3.30% 851,210.84 1.18% 1,568,239.76 2.18% 497,767.83 0.69% 1,342,842.88 1.86% $72,034,020.56 100.00% 2013 Pay 2014 Property Tax Collections kl— --- ♦ — Hall of Fnma Rnnrl General Fund City of South Bend 1/3/2015 Page 3 Property Tax Collection Trends 90,000,000 80,000,000 70,000,000 60,000,000 50,000,000 40,000,000 30,000,000 20,000,000 ■ TIF Funds 10,000,000 ■ Civil City Funds 0 CO ° � aJ� °y y am � a� °y a Type 2007 1pay 2008 2008 /pay 2009 2009 /Pay 2010 2010/pay2011 2011/pay2012 2012/pay2013 2013/pay2014 Civil City Funds 65,200,047 52,033,758 49,710,529 48,218,718 48,843,403 45,189,966 45,002,931 TIF Funds 19,286,939 22,256,716 27,578,275 24,743,455 24,061,128 24,790,322 27,031,090 Total Property Tax Collections 84,486,986 74,290,474 77,288,804 72,962,172 72,904,531 69,980,288 72,034,021 City of South Bend 1/3/2015 Page 4 Property Tax Collection Trends - Civil City Funds 70,000,000 60,000,000 50,000,000 40,000,000 30,000,000 20,000,000 10,000,000 0 aa°� a� a� ai J a� °yry J J ti°°�\e ti ° ti °y °\e I$, ti°y�\e Type 2007 /pay 2008 2008 1pay 2009 2009 /Pay 2010 2010/pay2011 2011/pay2012 2012/pay2013 20131pay2014 Civil City Funds 65,200,047 52,033,758 49,710,529 48,218,718 48,843,403 45,189,966 45,002,931 City of South Bend 1/3/2015 Page 5 Property Tax Collection Trends - TIF Funds 30,000,000 25,000,000 20,000,000 15,000,000 10,000,000 5,000,000 0 ° aa J a� a� a a� °yry a� °y� i J J °\e ti °y1\e \e ti °y�\e Type 2007 /pay 2008 2008 /pay 2009 2009 /Pay 2010 20101pay2011 20111pay2012 2012/pay2013 20131pay2014 TIF Funds 19,286,939 22,256,716 27,578,275 24,743,455 24,061,128 24,790,322 27,031,090 City of South Bend 1/3/2015 Page 6 Fund Name General Fund Parks & Recreation College Football Hall of Fame Cumulative Capital Development Total - City Airport TIF District South Bend Central TIF District West Washington TIF District Central Medical TIF District (4) Northeast TIF District Southside TIF District #1 Erskine Commons TIF District #2 (2) Erskine Village TIF District #3 Douglas Road TIF District (3) Northeast Residential TIF Airport Urban Enterprise Zone (1) Total - Tax Increment Financing Grand Total Property Taxes Receivable Collections vs Lew $42,159,959.10 $38,369,939.03 2013 Pay 2014 $36,708,989.23 $2,006,411.88 94.82% December 31, 2014 8,374,886.47 7,623,780.24 2011 -2012 2012 -2013 2013 -2014 94.91% Levy Levy Levy 12/31/14 Percent Per County Per County Per County Total Uncollected Collections/ Fund No. Abstract Abstract Abstract Collections Lew Lew 101 $42,159,959.10 $38,369,939.03 $38,715,401.11 $36,708,989.23 $2,006,411.88 94.82% 201 8,374,886.47 7,623,780.24 7,760,516.48 7,365,387.92 395,128.56 94.91% 313 859,959.09 1,341,607.54 524,471.43 497,767.83 26,703.60 94.91% 406 554,158.31 490,121.50 453,896.12 430,785.89 23,110.23 94.91% 51,948,962.97 47,825,448.31 47,454,285.14 45,002,930.87 2,451,354.27 94.83% 324 12,266,234.17 15,275,702.92 15,600,858.95 14,284,734.43 $1,316,124.52 91.56% 420 3,781,492.40 3,761,712.00 4,376,939.50 4,309,726.91 67,212.59 98.46% 422 483,719.73 584,897.07 602,782.79 580,987.35 21,795.44 96.38% 426 3,668,649.86 2,128,725.48 764,755.26 851,210.84 (86,455.58) 111.30% 429 1,685,484.97 1,152,857.67 1,649,304.42 1,568,239.76 81,064.66 95.08% 430 2,608,924.21 2,618,580.97 2,478,709.77 2,379,211.99 99,497.78 95.99% 431 0.00 0.00 0.00 0.00 0.00 0.00% 432 0.00 1,319,469.76 0.00 9,175.08 (9,175.08) 100.00% 435 561,079.06 322,082.97 321,894.56 321,894.56 0.00 100.00% 436 2,542,578.19 2,607,578.70 2,674,146.48 2,725,908.77 (51,762.29) 101.94% 454 74,480.84 0.00 0.00 0.00 0.00 0.00% 27,672,643.43 29,771,607.54 28,469,391.73 27,031,089.69 1,438,302.04 94.95% $79,621,606.40 $77,597,055.85 $75,923,676.87 $72,034,020.56 $3,889,656.31 94.88% (1) Special district passed February 23, 2009 for AJW South Bend Realty (AJ Wright Corporation). Funds may be used for job training under the Urban Enterprise Zone statute. (2) TIF disctrict has been decertified (3) Property tax appeals for 2011 -2012. (4) County Assessor error in valuing Memorial Hospital property for 2011 -2012. 90% of property de- exempted (taxed) and left 10% exempted (non- taxed). Should have been the opposite. Per Jeff Costello, CFO, of Memorial Hospital. City of South Bend 1/3/2015 Page 7 City of South Bend, Indiana CAFR Property Taxes Receivable Calculation 2013 Pay 2014 December 31, 2014 2013 -2014 Levy Estimated 12/31114 CAFR Per County Collection Estimated Actual CAFR Accounts Fund Name Fund No. Records Percentaae Collections Collections Adiustments Receivable General Fund Parks & Recreation College Football Hall of Fame Cumulative Capital Development Total - City Tax Increment Financing Airport TIF District South Bend Central TIF District West Washington TIF District Central Medical TIF District Northeast TIF District Southside TIF District #1 Erskine Commons TIF District #2 Erskine Village TIF District #3 Douglas Road TIF District Northeast Residential TIF District Airport Urban Enterprise Zone Total - Tax Increment Financing Grand Total 101 $38,715,401.11 95% $36,779,631.05 201 7,760,516.48 95% 7,372,490.66 313 524,471.43 95% 498,247.86 406 453,896.12 95% 431,201.31 47,454,285.14 45,0819570.88 324 15,600,858.95 95% 14,820,816.00 420 4,376,939.50 95% 4,158,092.53 422 602,782.79 95% 572,643.65 426 764,755.26 95% 726,517.50 429 1,649,304.42 95% 1,566,839.20 430 2,478,709.77 95% 2,354,774.28 431 0.00 95% 0.00 432 0.00 95% 0.00 435 321,894.56 95% 305,799.83 436 2,674,146.48 95% 2,540,439.16 454 0.00 95% 0.00 28,469,391.73 27,045,922.14 $75,923,676.87 $72,127,493.03 $36,708,989.23 7, 365, 387.92 497, 767.83 430,785.89 45,002,930.87 14,284,734.43 4,309,726.91 580,987.35 851, 210.84 1, 568, 239.76 2,379,211.99 0.00 9,175.08 321,894.56 2,725,908.77 0.00 27,031,089.69 $72,034,020.56 $0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 $0.00 $70,641.82 7,102.74 480.03 415.42 78,640.01 536,081.57 (151,634.39) (8,343.70) (124,693.34) (1,400.56) (24,437.71) 0.00 (9,175.08) (16,094.73) (185,469.61) 0.00 14,832.45 $93,472.47 City of South Bend 1/3/2015 Page 8 City of South Bend, Indiana 101 $39,368,430.88 Property Taxes Budget vs Collections $36,638,888.00 $36,638,000.00 December 31, 2014 $70,989.23 100.19% 2012 2013 2015 2014 12/31/14 2014 Actual Actual Revenue Revenue YTD Budget Percent of Fund Name Fund No. Collections Collections Budget Budget Collections Variance Budget General Fund 101 $39,368,430.88 $36,251,396.68 $36,638,888.00 $36,638,000.00 $36,708,989.23 $70,989.23 100.19% Parks & Recreation 201 7,824,056.13 7,207,059.57 7,340,000.00 7,350,000.00 7,365,387.92 15,387.92 100.21% College Football Hall of Fame 313 1,133,205.12 1,268,178.59 1,177,620.00 497,000.00 497,767.83 767.83 100.15% Cumulative Capital Development 406 517,710.39 463,331.15 450,000.00 430,000.00 430,785.89 785.89 100.18% Total - City 48,843,402.52 45,189,965.99 45,606,508.00 44,915,000.00 45,002,930.87 87,930.87 100.20% Tax Increment Financing Airport TIF District 324 11,631,287.13 13,340,353.87 13,400,000.00 14,284,735.00 14,284,734.43 (0.57) 100.00% South Bend Central TIF District 420 3,671,478.32 2,590,808.06 3,500,000.00 4,309,727.00 4,309,726.91 (0.09) 100.00% West Washington TIF District 422 422,714.50 493,608.45 420,000.00 580,988.00 580,987.35 (0.65) 100.00% Central Medical TIFDistrict 426 1,606,914.83 1,221,676.17 625,000.00 851,211.00 851,210.84 (0.16) 100.00% Northeast TIF District 429 1,351,048.08 841,627.37 820,000.00 1,568,240.00 1,568,239.76 (0.24) 100.00% Southside TIF District #1 430 2,466,202.75 2,404,415.84 2,400,000.00 2,500,000.00 2,379,211.99 (120,788.01) 95.17% Erskine Commons TIF District #2 431 0.00 0.00 0.00 0.00 0.00 0.00 0.00% Erskine Village TIF District #3 432 0.00 1,311,128.78 0.00 27,575.00 9,175.08 (18,399.92) 33.27% Douglas Road TIF District 435 285,713.22 323,938.75 320,000.00 321,895.00 321,894.56 (0.44) 100.00% Northeast Residential TIF District 436 2,514,047.92 2,262,764.70 2,599,000.00 2,725,909.00 2,725,908.77 (0.23) 100.00% Airport Enterprise TIF Fund 454 111,721.26 0.00 0.00 0.00 0.00 0.00 100.00% Total -Tax Increment Financing 24,061,128.01 24,790,321.99 24,084,000.00 27,170,280.00 27,031,089.69 (139,190.31) 99.49% Grand Total $72,904,530.53 $69,980,287.98 $69,690,508.00 $72,085,280.00 I $72,034,020.56 I ($51,259.44) 99.93% City of South Bend 1/3/2015 Page 9 City of South Bend, Indiana - All Funds 2013 /Pav 2014 Property Tax Collections - City December 31, 2014 101 201 313 406 Deposit Group General Parks & College Football Cumulative Subtotal - TIF Funds Tax Payment Date Number Fund Recreation Hall of Fame Capital Dev. city (see attached ) Total Advance 6/6/14 03807 13,984,752.01 2,803,248.70 0.00 163,956.07 16,951,956.78 0.00 16,951,956.78 Advance 6/25/14 04240 0.00 0.00 271,788.05 0.00 271,788.05 14,399,839.94 14,671,627.99 Settlement 6/25/14 04239 6,078,082.84 1,218,353.96 0.00 71,258.93 7,367,695.73 0.00 7,367,695.73 Advance 12/05/14 08385 10,373,857.97 2,079,443.67 0.00 121,622.24 12,574,923.88 0.00 12,574,923.88 Settlement 12/23/14 08923 0.00 0.00 225,979.78 0.00 225,979.78 12,631,249.75 12,857,229.53 Settlement 12/23/14 08924 2,661,402.37 540,536.56 0.00 31,614.82 3,233,553.75 0.00 3,233,553.75 Settlement - Cor 12/24/14 09007 3,610,894.04 723,805.03 0.00 42,333.83 4,377,032.90 0.00 4,377,032.90 Total 36,708,989.23 7,365,387.92 497,767.83 430,785.89 45,002,930.87 27,031,089.69 72,034,020.56 City of South Bend 1/3/2015 Page 10 ber 31, 2014 324 420 422 426 429 430 431 432 435 Deposit Group Airport TIF S. Bend Central West Washington Central Medical Northeast Southside Area Erskine Commons Erskine Village Douglas Road Tax Pavment Date Number District TIF District TIF District TIF District TIF District TIF District TIF District TIF District TIF District 6/25/14 04240 7,521,012.22 2,485,265.66 304,152.20 459,659.10 808,183.73 1,268,946.48 0.00 9,175.08 160,947.28 12/23/14 08923 6,763,722.21 1,824,461.25 276,835.15 391,551.74 760,056.03 1,110,265.51 0.00 0.00 160,947.28 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 14,284,734.43 4,309,726.91 580,987.35 851,210.84 1,568,239.76 2,379,211.99 0.00 9,175.08 321,894.56 City of South Bend 1/3/2015 Page 11 City of South Bend, Indiana - TIF Funds 2013 /Pay 2014 Property Tax Collections December 31, 2014 436 454 Deposit Group Northeast Airport Tax Payment Date Number Res. TIF Enterprise Fund Total Settlement 6/25/14 04240 1,382,498.19 0.00 14,399,839.94 Settlement 12/23/14 08923 1,343,410.58 0.00 12,631,249.75 0.00 0.00 0.00 Total 2,725,908.77 0.00 27,031,089.69 City of South Bend 1/3/2015 Page 12 City of South Bend, Indiana Estimated Property Tax Collections - Cash Basis - Budget vs Actual December 31, 2014 "Budget Order" "Circuit Breaker" Actual Property Tax Fund Fund Tax DLGF Levy County Abstract Tax Amount Revenue Overl(Under) Name Number Rate Gross Levv Reductions Levy Collected Budqet Budqet ;eneral Fund 101 $2.7977 $61,032,119 $22,316,718 $38,715,401 $36,708,989 $36,638,000 $70,989 arks & Recreation 201 0.5608 12,233,911 4,473,395 7,760,516 7,365,388 7,350,000 15,388 :umulative Capital Development 406 0.0328 715,535 261,638 453,897 430,786 430,000 786 ire Pension Fund 701 0.0000 0 0 0 0 0 0 olice Pension Fund 702 0.0000 0 0 0 0 0 0 ubtotal 3.3913 73,9819565 2790519751 46,929,814 44,505,163 44,418,000 87,163 all of Fame Bond 313 0.0379 826,792 302,321 524,471 497,768 497,000 768 otal $3.4292 $74,808,357 $27,354,072 $47,454,285 $45,002,931 $44,915,000 $87,931 012 pay 2013 ;eneral Fund 101 $2.5678 $60,007,093 $21,637,154 $38,369,939 $36,251,397 $39,000,000 ($2,748,603) arks & Recreation 201 0.5102 11,922,899 4,299,119 7,623,780 7,207,060 7,800,000 (592,940) :umulative Capital Development 406 0.0328 766,505 276,384 490,122 463,331 530,000 (66,669) ire Pension Fund 701 0.0000 0 0 0 0 0 0 olice Pension Fund 702 0.0000 0 0 0 0 0 0 ubtotal 3.1108 72,696,497 26,212,656 46,483,841 43,921,788 47,330,000 (3,408,212) all of Fame Bond 313 0.0599 1,399,807 58,199 1,341,608 1,268,179 1,118,460 149,719 otal $3.1707 $74,096,304 $26,270,856 $47,825,448 $45,189,967 $48,448,460 ($3,258,493) 011 pay 2012 ;eneral Fund 101 $2.4954 $58,390,366 $16,230,407 $42,159,959 $39,368,431 $39,950,000 ($581,569) arks & Recreation 201 0.4957 11,598,984 3,224,098 8,374,886 7,824,056 7,900,000 (75,944) :umulative Capital Development 406 0.0328 767,494 213,336 554,158 517,710 550,000 (32,290) ire Pension Fund 701 0.0000 0 0 0 0 0 0 olice Pension Fund 702 0.0000 0 0 0 0 0 0 ubtotal 3.0239 70,756,844 19,667,841 51,089,003 47,710,197 48,400,000 (689,803) all of Fame Bond 313 0.0509 1,191,019 331,060 859,959 1,133,205 1,000,000 133,205 otal $3.0748 $71,947,863 $19,998,901 $51,948,962 $48,843,402 $49,400,000 ($556,598) 010 pay 2011 92.33% Actual ;eneral Fund 101 $2.4381 $56,668,721 $14,602,344 $42,066,377 $38,514,550 $40,500,000 ($1,985,450) arks & Recreation 201 0.4818 11,198,470 2,885,611 8,312,859 7,613,760 7,900,000 (286,240) :umulative Capital Development 406 0.0342 794,910 204,832 590,078 540,454 600,000 (59,546) ire Pension Fund 701 0.0000 0 0 0 0 0 0 olice Pension Fund 702 0.0000 0 0 0 0 0 0 ubtotal 2.9541 68,662,101 17,692,787 50,969,314 46,668,764 49,000,000 (2,331,236) all of Fame Bond 313 0.0727 1,689,765 435,417 1,254,348 1,549,954 1,200,000 349,954 otal $3.0268 $70,351,866 $18,128,204 $52,223,662 $48,218,717 $50,200,000 ($1,981,283) 009 pay 2010 92.26% Actual ;eneral Fund 101 $2.2536 $55,292,202 $11,851,752 $43,440,450 $39,814,543 $41,000,000 ($1,185,457) arks & Recreation 201 0.4401 10,797,878 2,314,499 8,483,379 7,775,284 7,100,000 675,284 :umulative Capital Development 406 0.0342 839,099 179,859 659,240 604,214 757,000 (152,786) ire Pension Fund 701 0.0000 0 0 0 0 0 0 City of South Bend 1/3/2015 Page 13 suit breaker net credits per Legislative Services Agency (South Bend Civil City): 9 actual $8,679,919 City of South Bend, Indiana 16,595,854 1 estimated 19,830,132 2 estimated 20,545,596 Estimated Property Tax Collections - Cash Basis - Budget vs Actual December 31, 2014 "Budget Order" "Circuit Breaker" Actual Property Tax Fund Fund Tax DLGF Levy County Abstract Tax Amount Revenue Over /(Under) Name Number Rate Gross Levy Reductions Levy Collected Budget Budget Police Pension Fund 702 0.0000 0 0 0 0 0 0 Subtotal 2.7279 66,929,179 14,346,110 52,583,069 48,194,042 48,857,000 (662,958) Hall of Fame Bond 313 0.0672 1,648,756 353,406 1,295,350 1,516,487 1,600,000 (83,513) Total $2.7951 $68,577,935 $14,699,516 $53,878,419 $49,710,529 $50,457,000 ($7469471) 2008 pay 2009 89.72% Actual General Fund 101 $1.9777 $53,009,727 $6,458,340 $46,551,387 $41,760,552 $43,900,000 ($2,139,448) Parks & Recreation 201 0.3656 9,799,442 1,193,897 8,605,545 7,723,389 7,518,000 205,389 Cumulative Capital Development 406 0.0342 916,687 111,682 805,005 722,484 783,100 (60,616) Fire Pension Fund 701 0.0117 313,604 38,208 275,396 247,166 0 247,166 Police Pension Fund 702 0.0189 506,590 61,719 444,871 399,267 0 399,267 Subtotal 2.4081 64,546,050 7,863,846 56,682,204 50,852,858 52,201,100 (1,348,242) Hall of Fame Bond 313 0.0559 1,498,328 182,546 1,315,782 1,180,901 1,408,000 (227,099) Total $2.4640 $66,044,378 $8,046,392 $57,997,986 $52,033,759 $53,609,100 ($1,575,341) suit breaker net credits per Legislative Services Agency (South Bend Civil City): 9 actual $8,679,919 0 actual 16,595,854 1 estimated 19,830,132 2 estimated 20,545,596 DLGF Impact of Property Tax Caps Reports: 2013 $27,863,156 2014 28,708,050 City of South Bend 1/3/2015 Page 14 City of South Bend Property Tax Trends December 31, 2014 Historical Facts & Data Certified Assessed Valuation Reduce Property Tax Rates per $100 Assessed Valuation Civil HoF Pay Year $ (000) Tax Year Pay Year $ (000) General % Chg Cap Dev Pension Pension City Cum Fire Police Civil HoF Tax Year Pay Year NET AV vs Prior General Parks Cap Dev Pension Pension City Bond Total 64,546 2005 Tax Pay 2006 2,835,265,890 Pay 2010 certified 55,292 10,798 839 66,929 1,649 68,578 2010 Tax 2006 Tax Pay 2007 3,022,357,147 6.6% 795 68,662 1,690 70,352 2.17950% Pay 2012 2.17950% certified 2007 Tax Pay 2008 2,976,080,798 -1.5% 1.79240% 0.29790% 0.03420% 0.05790% 0.05720% 2.23960% 0.05320% 2.29280% certified 2008 Tax Pay 2009 2,668,887,419 -10.3% 1.97770% 0.36560% 0.03420% 0.01170% 0.01890% 2.40810% 0.00000% 2.40810% certified 2009 Tax Pay 2010 2,453,505,573 -8.1% 2.25360% 0.44010% 0.03420% 2.72790% 0.06720% 2.79510% certified 2010 Tax Pay 2011 2,324,451,862 -5.3% 2.43810% 0.48180% 0.03420% 2.95410% 0.07270% 3.02680% certified 2011 Tax Pay 2012 2,380,874,608 2.4% 2.49540% 0.49570% 0.03280% 3.02390% 0.05090% 3.07480% certified 2012 Tax Pay 2013 2,371,087,697 -0.4% 2.56780% 0.51020% 0.03280% 3.11080% 0.05990% 3.17070% certified 2013 Tax Pay 2014 2,209,726,672 -6.8% 2.79770% 0.56080% 0.03280% 3.39130% 0.03790% 3.42920% certified Certified Tax Levy Reduce Cum Fire Police Civil Cum Fire Police Civil HoF Pay Year $ (000) Tax Year Pay Year $ (000) General Parks Cap Dev Pension Pension City Bond Total 2007 Tax Pay 2008 2008 Tax Pay 2009 46,552 8,605 2008 Tax Pay 2009 certified 53,010 9,799 917 314 506 64,546 1,498 66,044 2009 Tax Pay 2010 certified 55,292 10,798 839 66,929 1,649 68,578 2010 Tax Pay 2011 certified 56,669 11,198 795 68,662 1,690 70,352 2011 Tax Pay 2012 certified 58,390 11,599 767 70,756 1,191 71,947 2012 Tax Pay 2013 certified 60,007 11,923 766 72,696 1,400 74,096 2013 Tax Pay 2014 certified 61,032 12,233 716 73,981 827 74,808 Levy Reductions Reduce Cum Fire Police Civil Cum Fire Police Civil HoF Pay Year $ (000) Tax Year Pay Year $ (000) % General Parks Cap Dev Pension Pension City Bond Total 2007 Tax Pay 2008 2008 Tax Pay 2009 46,552 8,605 2008 Tax Pay 2009 12.2% 6,458 1,194 112 38 62 7,864 182 8,046 2009 Tax Pay 2010 21.4% 11,852 2,314 180 14,346 353 14,699 2010 Tax Pay 2011 25.8% 14,602 2,886 205 17,693 435 18,128 2011 Tax Pay 2012 27.8% 16,230 3,224 213 19,667 331 19,998 2012 Tax Pay 2013 35.5% 21,637 4,299 276 26,212 58 26,270 2013 Tax Pay 2014 36.6% 22,317 4,473 262 27,052 302 27,354 Net Tax Billings Issued to Taxpayers (per County Abstract) Cum Fire Police Civil HoF Tax Year Pay Year $ (000) General Parks Cap Dev Pension Pension City Bond Total 2007 Tax Pay 2008 2008 Tax Pay 2009 46,552 8,605 805 276 444 56,682 1,316 57,998 2009 Tax Pay 2010 43,440 8,484 659 52,583 1,296 53,879 2010 Tax Pay 2011 42,067 8,312 590 50,969 1,255 52,224 2011 Tax Pay 2012 42,160 8,375 554 51,089 860 51,949 2012 Tax Pay 2013 38,370 7,624 490 46,484 1,342 47,826 2013 Tax Pay 2014 38,715 7,760 454 46,929 525 47,454 City of South Bend 1/3/2015 Page 15 City of South Bend Property Tax Trends December 31, 2014 Tax Collection Rates Collection Tax Year Pay Year Rate % 2008 Tax Pay 2009 89.7% 2009 Tax Pay 2010 92.2% 2010 Tax Pay 2011 92.3% 2011 Tax Pay 2012 94.0% 2012 Tax Pay 2013 94.5% 2013 Tax Pay 2014 94.4% Net Property Tax Collections $ (000) Cum Fire Police Civil HoF Tax Year Pay Year General Parks Cap Dev Pension Pension City Bond Total 2006 Tax Pay 2007 1 48,732 8,272 990 1,537 1,380 60,911 1,127 62,038 2007 Tax Pay 2008 50,966 8,473 973 1,647 1,627 63,686 1,514 65,200 2008 Tax Pay 2009 41,761 7,723 722 247 399 50,852 1,181 52,033 2009 Tax Pay 2010 39,815 7,775 604 48,194 1,516 49,710 2010 Tax Pay 2011 38,515 7,614 540 46,669 1,550 48,219 2011 Tax Pay 2012 39,368 7,824 518 47,710 1,133 48,843 2012 Tax Pay 2013 36,251 7,207 463 43,921 1,268 45,189 2013 Tax Pay 2014 36,715 7,365 431 44,511 498 45,009 City of South Bend 1/3/2015 Page 16 South Bend Property Tax Rates 4.00000% - 3.50000% 3.00000% 2.50000% 2.00000% 1.50000% 1.00000 0.50000% 0.00000% 2008 /Pay 2009 2009 /Pay 2010 2010 /Pay 2011 2011 /Pay 2012 2012 /Pay 2013 2013 /Pay 2014 ■General Fund ■Parks & Recreation 0 Fire Pension o Police Pension ■Cumulative Capital Development ■Hall of Fame Bond Name 2007 /Pay 2008 2008 /Pay 2009 2009 /Pay 2010 2010 /Pay 2011 2011 /Pay 2012 2012 /Pay 2013 2013 /Pay 2014 General Fund 1.78922% 1.97770% 2.25360% 2.43810% 2.49540% 2.56780% 2.79770% Parks & Recreation 0.29737% 0.36560% 0.44010% 0.48180% 0.49570% 0.51020% 0.56080% Fire Pension 0.05780% 0.01170% 0.00000% 0.00000% 0.00000% 0.00000% 0.00000% Police Pension 0.05710% 0.01890% 0.00000% 0.00000% 0.00000% 0.00000% 0.00000% Cumulative Capital Development 0.03414% 0.03420% 0.03420% 0.03420% 0.03280% 0.03280% 0.03280% Hall of Fame Bond 0.05311% 0.05590% 0.06720% 0.07270% 0.05090% 0.05990% 0.03790% Total 2.28874% 2.46400% 2.79510% 3.02680% 3.07480% 3.17070% 3.42920% City of South Bend 1/3/2015 Page 17 City of South Bend 1/3/2015 Page 18 Property Tax Rates & DLGF Tax Levy (before circuit breaker reductions) Revised - January 30, 2014 Approved Approved Approved Approved Approved Approved Approved 2007 pay 2008 2008 pay 2009 2009 pay 2010 2010 pay 2011 2011 pay 2012 2012 pay 2013 2013 pay 2014 DLGF Levy Levy Levy Levy Levy Levy Levy Code Fund Name Rate $ Rate $ Rate $ Rate $ Rate $ Rate $ Rate $ 0101 General 1.78923% 53,248,815 1.97770% 53,009,727 2.25360% 55,292,202 2.43810% 56,668,721 2.49540% 58,390,366 2.56780% 60,007,093 2.79770% 61,032,119 1301 Parks & Recreation 0.29737% 8,850,046 0.36560% 9,799,442 0.44010% 10,797,878 0.48180% 11,198,470 0.49570% 11,598,984 0.51020% 11,922,899 0.56080% 12,233,911 0341 Fire Pension 0.05780% 1,720,100 0.01170% 313,604 0.00000% - 0.00000% - 0.00000% - 0.00000% - 0.00000% - 0342 Police Pension 0.05710% 1,699,304 0.01890% 506,590 0.00000% - 0.00000% - 0.00000% - 0.00000% - 0.00000% - 2391 Cum Capital Development 0.03414% 1,016,017 0.03420% 916,687 0.03420% 839,099 0.03420% 794,910 0.03280% 767,494 0.03280% 766,505 0.03280% 715,535 Civil City 2.23563% 66,534,282 2.40810% 64,546,050 2.72790% 66,929,179 2.95410% 68,662,101 3.02390% 70,756,844 3.11080% 72,696,497 3.39130% 73,981,565 8485 Redevelopment Bond (HoF) 0.05311% 1,580,471 0.05590% 1,498,328 0.06720% 1,648,756 0.07270% 1,689,765 0.05090% 1,191,019 0.05990% 1,399,807 0.03790% 826,792 Total 2.28874% 68,114,753 2.46400% 66,044,378 2.79510% 68,577,935 3.02680% 70,351,866 3.07480% 71,947,863 3.17070% 74,096,304 3.42920% 74,808,357 Net Assessed value 2,976,080,798 2,668,887,419 2,453,505,573 2,324,451,862 2,380,874,608 2,371,087,697 2,209,726,672 Change in Net AV - 10.32% -8.07% -5.26% 2.43% -0.41% -6.81% City of South Bend 1/3/2015 Page 18 CITY OF SOUTH BEND, INDIANA DETAIL OF NET ASSESSED VALUATION (Assessment For the Year 2012 Payable in 2013) South Bend South Bend South Bend South Bend South Bend South Bend Centre Twp Clay Twp German Twp Penn Twp Warren Twp Portage Twp Totals Percent Value of land $112,649,600 $24,480,200 $69,431,600 $16,784,300 $2,174,300 $392,663,300 $618,183,300 Value of improvements 477,640,200 122,403,400 434,165,900 91,189,100 26,117,900 2,683,188,170 3,834,704,670 Total value of real estate 590,289,800 146,883,600 503,597,500 107,973,400 28,292,200 3,075,851,470 4,452,887,970 Less: Mortgage, veterans, blind, age 0 0 0 0 0 0 0 65 & other exemptions (234,399,434) (34,719,574) (81,887,303) (27,092,434) 0 (1,017,117,465) (1,395,216,210) Tax - exempt property (41,023,590) (7,986,942) (32,058,380) (9,400,300) 0 (298,961,578) (389,430,790) Investment Deduction 0 0 0 0 0 (1,918,700) (1,918,700) Tax increment financing (94,770,861) (8,513,401) (257,726,946) 0 (25,818,670) (363,550,241) (750,380,119) Tax abatements (6,835,963) (203,588) (18,839,488) (3,007,895) (2,473,530) (26,368,506) (57,728,970) Net value of real estate 213,259,952 95,460,095 113,085,383 68,472,771 0 1,367,934,980 1,858,213,181 78.37% Gross personal property assessments 26,717,540 7,923,880 155,011,460 2,064,030 6,455,040 339,328,540 537,500,490 Less: Tax abatements 0 0 (6,092,993) 0 0 (8,864,874) (14,957,867) Tax - exempt property (1,574,950) (201,740) (2,987,960) (929,160) 0 (93,837,377) (99,531,187) Investment deduction 0 0 0 0 0 0 0 Tax increment financing 0 0 0 0 0 (10,969,370) (10,969,370) Net value of personal property 25,142,590 7,722,140 145,930,507 1,134,870 6,455,040 225,656,919 412,042,066 17.38% Net value of utilities Total net assessed valuation Percentage of Total Summary 10,996,270 4,668,400 9,919,770 1,210,340 470,610 73,567,060 100,832,450 4.25% 249,398,812 107,850,635 268,935,660 70,817,981 6,925,650 1,667,158,959 2,371,087,697 100.00% 10.52% 4.55% 11.34% Real Personal Property/ •operty Utilties Total Percent 2.99% 0.29% 70.31% 100.00% Total value 4,452,887,970 638,332,940 5,091,220,910 100.00% Deductions & exemptions (1,397,134,910) 0 (1,397,134,910) - 27.44% Tax exempt property (389,430,790) (99,531,187) (488,961,977) -9.60% Tax increment financing (750,380,119) (10,969,370) (761,349,489) - 14.95% Tax abatements (57,728,970) (14,957,867) (72,686,837) -1.43% Total net assessed valuation 1,858,213,181 512,874,516 2,371,087,697 46.57% Percent 78.37% 21.63% 100.00% Source: St. Joseph County Auditor's Office - Information from the County Abstract prepared by the Indiana Department of Local Government Finance. City of South Bend 1/3/2015 Page 19 CITY OF SOUTH BEND, INDIANA DETAIL OF NET ASSESSED VALUATION (Assessment For the Year 2013 Payable in 2014) South Bend South Bend South Bend South Bend South Bend South Bend Centre Twp Clay Twp German Twp Penn Twp Warren Twp Portage Twp Totals Percent Value of land $108,897,100 $25,180,600 $70,082,200 $16,860,800 $2,104,100 $376,407,050 $599,531,850 Value of improvements 455,679,500 118,920,100 416,802,200 84,056,900 23,157,700 2,501,609,250 3,600,225,650 Total value of real estate 564,576,600 144,100,700 486,884,400 100,917,700 25,261,800 2,878,016,300 4,199,757,500 Less: Mortgage, veterans, blind, age 0 0 0 0 0 (15,393,696) (15,393,696) 65 & other exemptions (226,782,879) (34,751,678) (81,826,030) (26,878,588) 0 (956,849,205) (1,327,088,380) Tax - exempt property (41,595,520) (7,886,172) (31,913,930) (9,323,600) 0 (338,719,623) (429,438,845) Investment Deduction 0 0 0 0 0 (2,220,700) (2,220,700) Tax increment financing (54,830,088) (8,296,644) (254,036,780) 0 (23,635,380) (372,649,260) (713,448,152) Tax abatements (3,509,402) 0 (16,005,217) (2,044,390) (1,626,420) (16,703,842) (39,889,271) Net value of real estate 237,858,711 93,166,206 103,102,443 62,671,122 0 1,190,873,670 1,687,672,152 76.37% Gross personal property assessments 27,588,490 7,943,500 165,860,160 2,093,660 6,867,500 342,519,210 552,872,520 Less: Tax abatements 0 0 (14,974,063) 0 0 (7,448,676) (22,422,739) Tax - exempt property (1,524,050) (150,390) (2,923,850) (938,290) 0 (77,717,165) (83,253,745) Investment deduction 0 0 0 0 0 (15,393,696) (15,393,696) Tax increment financing 0 0 0 0 0 0 0 Net value of personal property 26,064,440 7,793,110 147,962,247 1,155,370 6,867,500 241,959,673 431,802,340 19.54% Net value of utilities 11,365,950 3,708,780 7,323,120 1,088,910 338,560 66,426,860 90,252,180 4.08% Total net assessed valuation 275,289,101 104,668,096 258,387,810 64,915,402 7,206,060 1,499,260,203 2,209,726,672 100.00% Percentage of Total 12.46% 4.74% 11.69% 2.94% 0.33% 67.85% 100.00% Summary Real Personal Property/ Property Utilties Total Percent Total value 4,199,757,500 643,124,700 4,842,882,200 100.00% Deductions & exemptions (1,329,309,080) (15,393,696) (1,344,702,776) - 27.77% Tax exempt property (429,438,845) (83,253,745) (512,692,590) - 10.59% Tax increment financing (713,448,152) 0 (713,448,152) - 14.73% Tax abatements (39,889,271) (22,422,739) (62,312,010) -1.29% Total net assessed valuation 1,687,672,152 522,054,520 2,209,726,672 45.63% Percent 76.37% 23.63% 100.00% Source: St. Joseph County Auditor's Office - information from the County Abstract prepared by the Indiana Department of Local Government Finance. City of South Bend 1/3/2015 Page 20 City of South Bend, Indiana Assessed Value and Actual Value of Taxable Property (2) excludes Redevelopment Commission (Hall of Fame) tax rate Source: St. Joseph County Auditor's Office Abstract City of South Bend 1/3/2015 Page 21 (2) Gross Assessed Values Less: Total Net City Tax Year/ Real Personal Utilities Total Non -Taxed Taxable Tax % Collection Year Property Property Property Value Property (1) Value Rate Taxable 2002/2003 3,849,091,300 816,672,723 74,065,200 4,739,829,223 1,771,726,609 2,968,102,614 1.9606 62.62% 2003/2004 3,731,377,160 659,263,940 103,129,310 4,493,770,410 1,685,920,064 2,807,850,346 2.1115 62.48% 2004/2005 3,764,507,180 689,419,365 105,604,270 4,559,530,815 1,740,625,997 2,818,904,818 2.1148 61.82% 200512006 3,789,447,190 655,066,401 98,165,420 4,542,679,011 1,707,413,121 2,835,265,890 2.1795 62.41% 2006/2007 4,374,431,415 544,460,152 90,443,780 5,009,335,347 1,986,978,200 3,022,357,147 2.1046 60.33% 200712008 4,420,513,240 527,383,785 92,736,090 5,040,633,115 2,064,552,317 2,976,080,798 2.2396 59.04% 2008/2009 4,698,989,240 592,538,950 95,891,770 5,387,419,960 2,718,532,541 2,668,887,419 2.4081 49.54% 200912010 4,368,497,000 604,951,450 98,433,750 5,071,882,200 2,618,376,627 2,453,505,573 2.7279 48.37% 2010/2011 4,339,037,300 551,819,290 101,009,760 4,991,866,350 2,667,414,488 2,324,451,862 2.9541 46.56% 201112012 4,255,238,900 560,331,660 95,165,650 4,910,736,210 2,529,861,602 2,380,874,608 3.0239 48.48% 2012/2013 4,452,887,970 537,500,490 100,832,450 5,091,220,910 2,720,133,213 2,371,087,697 3.1108 46.57% 201312014 4,199,757,500 552,872,520 90,252,180 4,842,882,200 2,633,155,528 2,209,726,672 3.3913 45.63% (1) non -taxed property includes adjustments for deductions & exemptions, tax exempt property, tax increment financing property, and tax abatements. (2) excludes Redevelopment Commission (Hall of Fame) tax rate Source: St. Joseph County Auditor's Office Abstract City of South Bend 1/3/2015 Page 21 CITY OF SOUTH BEND, INDIANA NET ASSESSED VALUE OF TAXABLE PROPERTY (1) Real Tax Year/ Net Assessed Collection Year Value Personal Net Assessed Value Utilities Net Assessed Value Total Net Assessed Value Percent Change 2002/2003 2,320,892,057 573,145,357 74,065,200 2,968,102,614 51.52% 2003/2004 2,215,693,906 489,027,130 103,129,310 2,807,850,346 -5.40% 2004/2005 2,179,070,901 534,229,647 105,604,270 2,818,904,818 0.39% 2005/2006 2,200,118,689 536,981,781 98,165,420 2,835,265,890 0.58% 2006/2007 2,520,098,365 411,815,002 90,443,780 3,022,357,147 6.60% 2007/2008 2,493,481,003 389,863,705 92,736,090 2,976,080,798 -1.53% 2008/2009 2,137,129,242 435,866,407 95,891,770 2,668,887,419 - 10.32% 2009/2010 1,911,818,036 443,253,787 98,433,750 2,453,505,573 -8.07% 2010/2011 1,809,523,734 413,918,368 101,009,760 2,324,451,862 -5.26% 2011/2012 1,858,836,588 426,872,370 95,165,650 2,380,874,608 2.43% 2012/2013 1,858,213,181 412,042,066 100,832,450 2,371,087,697 -0.41% 2013/2014 1,687,672,152 431,802,340 90,252,180 2,209,726,672 -6.81% Source: St. Joseph County Auditor's Office Abstract (1) net of deductions & exemptions, tax exempt property, tax increment financing property, and tax abatements. City of South Bend 1/3/2015 Page 22