12-03-96 Council Special Minutes

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MINUTES OF THE SPECIAL MEETING CITY COUNCIL LITTLE CANADA~ MINNE30TA DECEMBER 3, 1996 Pursuant to due call and notice thereof a special meeting of the City Council of the City of Little Canada, Minnesota was held on the 3rd day of December, 1996 in the Council Chambers of the City Center located at 515 Little Canada Road in said City. Mayor Michael I. Fahey called the meeting to order at 7:02 P.M. and the following members of the City Council were present at roll call: CITY COUNCIL: Mayor Mr. Michael I. Fahey Council Member Mr. Bob Pedersen Council Member Mr. Jim LaValle (arr. 7:10 P.M.) Council Member Mr. Steve Morelan Council Member Mrs. Beverly Scalze ALSO PRESENT: City Admin. Mr. Joel Hanson Cable TV Prod. Mr. Greg Schroeder Admin. Asst. Mrs. Kathy Glanzer 1997 BUDGET Mayor Fahey opened the 1997 Budget Truth In Taxation TRUTH IN Hearing and informed those present that the City TAXATION Administrator would review the 1997 Budget Proposal. HEARING On behalf of the Mayor and City Council, the City Administrator welcomed those present and the viewing audience to Little Canada's 1997 Budget Truth In Taxation hearing, and pointed out that the purpose of the hearing is to discuss the City's impact on the 1997 property tax bill. The Administrator explained that there are many factors affecting the property tax bill. These include: *Local Spending (City, County, School, Other); *Classification of Property (Residential, Commercial, Multi-Family, etc.); *Class Rates (% of market value the State determines your tax should be based on); *Market Value of Affected Property; *Total Market Value of Jurisdiction; *HACA Distribution (Homestead and Agricultural Credit Aid) ; *Fiscal Disparities (Metro-wide property wealth sharing pool for commercial property). 1