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STAFF ORIGINATOR: <br />MEETING DATE: <br />TOPIC: <br />VOTE REQUIRED: <br />BACKGROUND <br />CITY COUNCIL <br />AGENDA ITEM 2A (i) <br />Sarah Cotton <br />December 11, 2017 <br />Consider Resolution No. 17-141, Adopting the Final 2017 Tax <br />Levy, Collectible in 2018 <br />3/5 <br />Minnesota State Statutes require the City of Lino Lakes to adopt and certify a final 2017 tax levy, <br />collectible in 2018 on or before December 29, 2017. <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 surface water maintenance and a contingency for <br />unforeseen emergencies. The levy also includes voter -approved levies of $176,390 to service debt <br />for the Birch/Ware and Lake/Main intersection signalization projects and $219,227 to service debt <br />for the Shenandoah Street Reconstruction project. The total proposed tax levy for 2017/18 is <br />$9,776,732 which is equal to the preliminary levy adopted in September. The proposed levy <br />represents an increase of $284,877 over the 2016/17 tax levy. The tax rate is estimated to decrease <br />for 2018 from 45.140% to 42.756%. <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. 17-141. <br />ATTACHMENTS <br />2018 Final Proposed Budget & Tax Levy <br />Resolution No. 17-141, Adopting the Final 2017 Tax Levy, Collectible in 2018 <br />