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STAFF ORIGINATOR: <br />MEETING DATE: <br />TOPIC: <br />VOTE REQUIRED: <br />BACKGROUND <br />CITY COUNCIL <br />AGENDA ITEM 2B(i) <br />Sarah Cotton <br />December 12, 2016 <br />Consider Resolution No. 16-162, Adopting the Final 2016 Tax <br />Levy, Collectible in 2017 <br />3/5 <br />Minnesota State Statutes require the City of Lino Lakes to adopt and certify a final 2016 tax levy, <br />collectible in 2017 on or before December 28, 2016. <br />The total levy includes dollars for the general operating budget as well as dollars for special levies <br />for tax abatement and bonded indebtedness. The levy provides resources for City operations, capital <br />outlay and equipment replacement, street and storm drainage maintenance and a contingency for <br />unforeseen emergencies. The levy also includes voter -approved levies of $177,692 to service debt <br />for the Birch/Ware and Lake/Main intersection signalization projects and $217,127 to service debt <br />for the Shenandoah Street Reconstruction project. The total proposed tax levy for 2016/17 is <br />$9,491,855, which is a decrease of $193,707 to the preliminary levy adopted in September. The <br />proposed levy represents an increase of $433,427 over the 2015/16 tax levy. The tax rate is <br />estimated to decrease for 2017 from 46.017% to 45.044%. <br />A public hearing was held on the tax levy for this evening. Tax levy information was presented and <br />discussed during the public hearing and public testimony was received. <br />The City Council needs to take final action on the tax levy at this time. <br />RECOMMENDATION <br />Staff recommends the approval of Resolution No. 16-162. <br />ATTACHMENTS <br />Resolution No. 16-162, Adopting the Final 2016 Tax Levy, Collectible in 2017 <br />