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FALCON HEIGHTS CITY COUNCIL MINUTES -2- <br />• December 8, 2003 <br />Truth in Taxation Hearing (continued) <br />Council member Lamb asked if fiscal disparities are going up or down in 2004. Administrator <br />Worthington said that it will be up about $3,000 in 2004. Council member Lamb said the City is <br />levying the same amount of money for 2004 as it did for 2003. He asked if the City has a <br />breakdown of the residential parcels. Administrator Worthington said that this year's statement <br />from the County did not break down the information as thoroughly as in the past. She gave a <br />brief, oral review of the stratified percentage change and change in total property tax from 2003 <br />to proposed 2004 on residential properties in Falcon Heights. Council member Lamb said that <br />the point he is trying to get to is that the City is holding its dollar amount constant. Some people <br />are seeing City property tax increases on their proposed property tax statements and he would <br />like to know why. <br />Finance Director Olson said that on the homestead credit, $304 is the maximum credit. <br />Properties valued at $76,000 or less are the only ones getting the homestead credit. The <br />Legislature adopted a sliding scale. Residents are losing some of their homestead credit. There <br />were some class rate changes for commercial, industrial, and apartment buildings. <br />Mayor Gehrz said the Council will be voting on the levy on budget at the regular Council <br />• meeting at 7:00 PM on Wednesday, December 10, 2003. <br />The meeting was adjourned at 7:30 PM. <br />Respectfully submitted, <br />Mary Shea Kodluboy <br />Deputy Clerk <br /> <br />9 <br />