HomeMy WebLinkAboutCCRes_93-05•
No. R-93-5
CITY OF FALCON HEIGHTS
C O U N C I L R E S O L U T I O N
Date: Jan 13, 1993
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RESOLUTION DESIGNATING UNANTICIPATED 1992 LGA/EQUALIZATION AID
FOR PROPERTY TAX RELIEF
WHEREAS, the City of Falcon Heights receives annual property tax
relief in the form of Local Government Aid and Equalization Aid
from the Local Government Trust Fund;
WHEREAS, the Local Government Trust Fund revenues are accrued
from 2 1/2 cents sales tax designated for property tax relief to
cities by the state legislature;
WHEREAS, the city develops its budget, and the resulting property
tax levy, based upon cost-efficient delivery of services;
WHEREAS, the city reduced its general operating budget over the
past three years;
WHEREAS, the state reduced the local government aid allocation to
the city by $41,668 in 1990 and 1991;
WHEREAS, actual revenues from sales tax in the 1992 Local
Government Trust Fund were higher than originally anticipated;
WHEREAS, the city received this additional sales tax revenue as
Local Government Aid and additional Equalization Aid of $14,569
(8 1/2~)in its December 23, 1992 payment;
WHEREAS, this is a one-time allocation and not an annual increase
in the city's local government aid and equalization aid
allocation;
WHEREAS, the state continues to anticipate a budget deficit for
1993 and 1994 and future revenue in the Local Government Trust
Fund may be used to reduce that deficit rather than go to cities
for property tax relief as designated:
WHEREAS, the city proposes to designate the additional 1992 local
government aid and equalization aid for use to minimize local
property tax increases;
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THEREFORE BE IT RESOLVED, that the city designate the additional
$14,569 of local government aid and equalization aid for the
property tax relief as of 12/31/92. The property tax relief will
take the form of one or more of the following:
• to off-set any reductions in 1993 local government aid
revenue from the local government trust fund
• to provide property tax relief by minimizing levy
increases when the city council plans its 1994 budget
and considers its 1994 property tax levy
~ to pay for on-going infrastructure projects that will
minimize property tax increases and/or assessments to
pay for these projects;
• not to fund new projects or programs that the city
would not otherwise undertake;
• to determine the final allocation of this revenue
during the 1994 budgeting process.
Moved by Gehrz
BALDWIN
CIERNIA 4 In Favor
GEHRZ
JACOBS 0 Against
GIBBON TALBOT (Absent)
Approved by
Mayor
January 13, 1993
Date
G
Attested by
ty Clerk
Januarv 13, 1993
Date
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