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MINUTES <br />CITY COUNCIL <br />DECEMBER 3, 2007 <br />for the coming year. Capital improvement budgeted spending for 2008 is <br />$1,391,0981ess than the 2007 Budget. This represents last year's costs <br />associated with the Viking/Canabury Drive reconstruction and <br />realignment. Overall spending for 2007 was $11,439,244. <br />The Director next reviewed the allocation of City taxes on a $238,900 <br />home, which is the 2008 median value for Little Canada, a decrease from <br />the 2007 median value home of $245,500. Total City taxes would amount <br />to $460.93, with that dollar amount allocation between public safety, <br />general government, community services, public works infrastructure <br />improvements, and capital improvements. <br />The Director noted that Little Canada's 1998 median value was $109,400 <br />while the 2008 median value is $238,900, a 118% increase over 10 years. <br />The Director then reviewed the City tax impact to residential properties <br />that had no value increase from 2007. She noted that these homes will <br />experience a decrease in the City's share of taxes from 1% to 2%. For <br />homes with a 5% increase in value, the City's share of taxes will increase <br />by approximately 5%. With a 10% increase in value, the City's share of <br />taxes will rise by approximately 10% to 11 %. <br />The Director reviewed City tax impact to commercial/indusriial properties <br />with no value increase from 20071evels. These properties will see a 1% <br />decrease in City taxes. <br />The Director reviewed the taxing jurisdictions in Little Canada, pointing <br />out that the City of Little Canada is responsible for approximately 20% of <br />the tax bill; School District taxes account for about 29%, Ramsey County <br />is responsible for 43%, and the miscellaneous taxing jurisdictions total <br />8%. Those special taxing jurisdictions are the Metropolitan Council, <br />Metropolitan Mosquito control, Regional Transit Board, and <br />Ramsey/Washington Watershed District. <br />In reviewing total tax impact to residential properties with a 0% valuation <br />increase, property taxes will decrease by 3%. For residential properties <br />with a 5% valuation increase, total properCy taxes will increase by 3%. <br />Properties with a 10% valuation increase will see property taxes increase <br />8% to 9%. <br />T'he Director noted that commercial/industrial properties with a 0% <br />valuation increase will see a decrease of approximately 3% in their total <br />property taxes. <br />4 <br />