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2018-174 Council Resolution
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2018-174 Council Resolution
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3/14/2019 12:40:13 PM
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3/8/2019 1:47:50 PM
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City Council
Council Document Type
Resolutions
Meeting Date
12/10/2018
Council Meeting Type
Regular
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CITY COUNCIL <br />�. AGENDA ITEM 211 (i) <br />STAFF ORIGINATOR: Sarah Cotton <br />MEETING DATE: December 10, 2018 <br />TOPIC: Consider Resolution No. 18-174, Adopting the Final 2018 Tax <br />Levy, Collectible in 2019 <br />VOTE REQUIRED: 3/5 <br />BACKGROUND <br />Minnesota State Statutes require the City of Lino Lakes to adopt and certify a final 2018 tax levy, <br />collectible in 2019 on or before December 28, 2018. <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, park and trail <br />improvements, and a contingency for unforeseen emergencies. The levy also includes voter - <br />approved levies of $180,012 to service debt for the Birch/Ware and Lake/Main intersection <br />signalization projects and $215,972 to service debt for the Shenandoah Street Reconstruction <br />project. The total proposed tax levy for 2018/19 is $10,055,416 which is reduction to the <br />preliminary levy adopted in September of $10,162,007. The proposed levy represents an increase <br />of $278,685, or 2.85% over the 2017/18 tax levy. The tax rate is estimated to decrease for 2019 <br />from 42.826% to 41.724%. <br />A public hearing was held on the tax levy 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. 18-174. <br />ATTACHMENTS <br />2019 Final Proposed Budget & Tax Levy <br />Resolution No. 18-174 <br />
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