12-11-91 Council Minutes - Laserfiche WebLink

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MINUTES CITY COUNCIL DECEMBER 11, 1991 On behalf of the Fire Department and Public Works Department, the Mayor asked for assistance from able-bodied residents in clearing snow away from fire hydrants. 1992 BUDGET The City Administrator reported that tonight is the HEARING City's 1992 Truth in Taxation Hearing, which is a requirement of State Statute. The Administrator noted that property owners in the City have received a notice from the County outlining proposed property taxes for individual properties for 1992. The Administrator reported that as part of the 1992 budgeting process, the City has tried to be fiscally responsible and hold the line on increases, spending wisely and trying to obtain the most service possible for tax dollars. The City Administrator went on to explain the factors that affect a property owner's tax bill. These factors include local spending (city, county, school, other); market value of affected property, total market value of jurisdiction, classification percentages, HACA distribution, and fiscal disparity distribution/(contribution). The Administrator reported that in 1992 and 1993, the City will see changes in the way property taxes are calculated. The procedure for calculating property taxes is one that has been set up by the State Legislature. The Administrator reported that the proposed 1992 City levy was $1,802,847, however, through the bond refunding that was discussed earlier this evening, that amount has been reduced to $1,783,953. The Administrator reported on the distribution of the property tax dollar, pointing out that 49.8% of each dollar goes to the School District, 31.7% to the County, 14.6% to the City and 3.9o to miscellaneous taxing jurisdictions. The Administrator then reviewed the City's tax levy history from 1984 through 1992, pointing out that tax levies were fairly constant during the years 1984 through 1988. In 1989 levies took a dramatic jump when the Legislature shifted Local Government Aid dollars from cities to school districts. Levies again increased in 1990 due to the new fire station project, and increased in 1991 due to increased debt levy due to the new fire station and additional LGA reductions. The increase proposed in 1992 again relates to the decrease in Local Government Aids. The Administrator pointed out that the Legislature is not allowing an increase in levy limits outside of debt service levies except for the 1991 reduction in Local Government Aids. Page 3