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440 <br /> <br /> nay 2, 1989 <br /> <br />o Tourism continues to enjoy a stable level of individual <br /> travelers and group tours. Portside experienced [ts most <br /> successful season in terms of visitation and sales. <br /> <br /> Assessmen.~s~ <br /> <br /> -~e ~eal Estate Assessor inform~ me that the re-va{~a%ioh <br />of taxable assessmen{s increased by 3.58%~ and growt~ was~ <br />approxi.mately the same. It is commonly=perceived that~when' a <br />City in~rease~ its ~a~ rate, the burden for the increas~ is <br />only onlthe h~me~n~ Accord/ng~ t~ne~.~ty Asse~sor-,~h~ <br />taxable rea~p~op~Y values a~e c0~se~ o~ ~3 <br />commercial/industrial, and 2/3 residential~roperties'. ~C~ <br />Alarmingly, tax exempt property continues to be excessive. <br />Assessed ~alu~s}now ~otal $5.3 ~illi©n~ax exempt o~nership <br />~ :~2~9 ~:itli~h'~- 55~. ~he~;be~eflt~'~uSually .assoc~te.d <br /> <br />signifi~nt~majp, r3i%y~of the fedg.ral and ~Eate <br />outsid~ th~ City f~he~eby 'payin~ ~ea.l ~s~%t~, 0 p'~rsQga~'~p <br />Sa%~ t-axes~..amd ~ot.h~%~r~u-ser fees~.to'_oth~ <br />sta~is~iB~:'C~on~{'~ue%{o support ~=16~a! ~p.~gr61!. tax~itnat:thi~<3 <br />Council has i~n~be past ~equested t~e G~e~&l ~Ssemblg~t~j~ ' <br />authorize. <br /> <br /> In the <br />tax, we are <br />increasing <br /> <br />absence of a regional sales tax or a local income <br />faced with the continuing reality of'providing <br />local budgets with existing sources of revenue._ <br /> <br />Budget Strategy. ~ <br /> <br /> The budget process represents a continuum rather than <br />simply an annual event. Decisions which are made in a given <br />budget'year have direct implications and often predictable <br />effects on subsequent budgets. For the 1~89-90' proposed budget <br />to be fairly unders~0od, it needs to ~e considered' wli~ r~sP9ct <br />to the budgets ~whicn have preceded it. f'or the past several <br />~rs. Dur growth has been good; real 'estate tax 'r:ates ha~e <br />~n reduced twice and services have b~en significantly <br />e:x%~a-nded. We have made great strides during these recent '~ears, <br />partially due to: the fact that we had. accumutate~ a large fund <br />baize in the .~enera'l Fund. By using, s~me of the fu~d <br />b~ka~ce, we have.been able to provide .our citizens ~lt~ lower <br />t~xes and inc~ea~.ed services at the same time. ~e"l'ow ~s shown <br />the available fund balance in the General F~nd ~t '~he end of <br />the fiscal year for the last 10 years. <br /> <br />1988 -.~ 6,035,409 <br />1987 11,06~1'54 <br />1986 11,894,629 <br />1985 12,514,391 <br />1984 9,972~495 <br />1983 4,020,i54 <br />1982 3,211,937 <br />198I 662~664 <br />1980 1,317;851 <br />1979 1,699,127 <br /> <br />Obviously, usage of some of the available fund balance in r~ <br />years, as well as growth, has contributed to our abilil <br />provide reduced taxes and expanded services to our citzzens. <br /> <br />,cent <br />.y to <br /> <br /> <br />