The purpose of this override is to fund Capital Improvement projects for the Fire District. Capital Improvements are items such as fire trucks, ambulances, staff vehicles, equipment and building repairs/renovations. Salaries, benefits and operational costs are not part of the District’s Capital Improvement plan.
How will this affect Sun Lakes property owners?
1. The current tax rate for the Sun Lakes Fire District is $3.25 of the limited property value assessment (LPV) per $1,000 of assessed value.
a. A home with a LPV of $100,000 pays $325 to the Sun Lakes Fire District annually. If the rate is increased to $3.50 this home owner would pay $350 annually to the Sun Lakes Fire District.
$350-$325 = A $25.00 increase for the year.
This increase will cost the homeowner about $2.09 a month or $.07 a day.
b. A home with a LPV of $200,000 pays $650 to the Sun Lakes Fire District annually. If the rate is increased to $3.50 this home owner would pay $700 annually to the Sun Lakes Fire District.
$700-$650 = A $ 50 increase for the year.
This increase will cost the homeowner about $4.17 a month or $0.14 a day.
c. A home with a LPV of $300,000 pays $975 to the Sun Lakes Fire District annually. If the rate is increased to $3.50 this home owner would pay $1,050 annually to the Sun Lakes Fire District.
$1,050- $975 = a $75 increase for the year.
This increase will cost the homeowner about $6.25 a month or $0.21 a day.
What will this do for the District?
Based on the 2016 Net Assessed Valuation (NAV) an estimated increase from $3.25 to $3.50 would yield the Sun Lakes Fire District an additional $527,000 per year.
Estimated cost of replacing a fire engine – $540,000
Estimated cost of replacing heart monitors with 12 Lead EKG – $200,000
The District has many more capital needs that will have to be addressed through fiscal planning.