12-09-92 Council Minutes - Laserfiche WebLink

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MINUTES CITY COUNCIL DECEMBER 9, 1992 RESOLUTION NO. 92-12-440 - APPROVING TAE MINUTES OF THE NOVEMBER 25, 1992 REGULAR COUNCIL MEETING AS SUBMITTED The foregoing resolution was duly seconded by LaValle. Ayes (5) Blesener, LaValle, Hanson, Scalze, Collova. Nays (0). Resolution declared adopted. 1993 BUDGET The Mayor opened the 1993 Budget Truth in Taxation TRUTH IN Hearing. TAXATION HEARING The City Administrator welcomed those present and at home to the 1993 Budget Truth in Taxation Hearing which relates to 1993 property taxes. The Administrator began his presentation with a review of the notice the County sent on a per parcel basis to all property owners outlining proposed property taxes for 1993. The Administrator reported that there are various factors that affect a property owner's tax bill. These factors are: *Local Spending (City, County, School, Other) *Classification of Property *Class Rate *Market Value of Affected Property *Total Market Value of Jurisdiction *xomestead Agricultural Credit Aid Distribution *Fiscal Disparities. The Administrator pointed out that the only factors over which the City has some control are City spending, HACA distribution and fiscal disparities. The Administrator reported that the 1993 City levy was initially proposed at $1,838,108. The City Council has reviewed that proposal and reduced it by $10,500. As a result, the 1993 City levy is now proposed at $1,827,708, which is an increase of 2.45% from 1992 to 1993. The Administrator reported that staff surveyed 10 of the surrounding cities, and has determined that the 2.45o increase proposed by Little Canada is the lowest. Lauderdale is the highest, proposing a 13% increase, ranging down to Falcon Heights at 3.41%. The average increase of the 11 cities surveyed is 5.38%. Little Canada has made significant efforts in trying to hold the line on the 1993 Budget. Page 2