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Meeting Date: 12/7/94 <br /> Agenda Item: PH 1 <br /> CITY OF FALCON HEIGHTS <br /> REQUEST FOR COUNCIL CONSIDERATION <br /> ITEM DESCRIPTION: Public Hearing on the city's proposed 1995 budget and proposed tax <br /> levy <br /> Typically referred to as the "Truth -In- Taxation Hearing" <br /> SUBMITTED BY: Susan Hoyt, City Administrator <br /> EXPLANATION /SUMMARY: <br /> The staff will present the city's proposed 1995 budget including the proposed property tax levy <br /> for 1995. Following the presentation members of the public are invited to ask questions and <br /> comment. <br /> The city's proposed 1995 budget is: <br /> Total $2,695,605 <br /> General fund $1,094,473 (a 3% increase from 1994) <br /> Property tax Iev' $520,867 (a 1.3% decrease from 1995) <br /> The city's proposed budget includes an increase a 20% increase in police costs to cover an officer <br /> dedicated to the City of Falcon Heights' city limits. <br /> The property tax levy decrease does not result in lower property taxes for homeowners in Falcon <br /> Heights because it is due to the Toss in commercial /industrial property values and taxes paid in <br /> 1993 and 1994 which shifts the property tax burden to homeowners. <br /> HANDOUTS WILL BE AVAILABLE AT THE PUBLIC HEARING <br /> ACTION REQUESTED: <br /> Open the public hearing <br /> Presentation of proposed budget and property tax levy <br /> Questions and comments from the public <br /> Close public hearing <br /> Announce the adoption of the final budget and the 1995 levy at the December 21, 1994 <br /> meeting at or near 7:00 PM <br /> O! ::..H i P...::::::PPB► LACMEAR1N. <br />