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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 9, 2019 <br />Consider Resolution No. 19-167, Adopting the Final 2019 Tax <br />Levy, Collectible in 2020 <br />3/5 <br />Minnesota State Statutes require the City of Lino Lakes to adopt and certify a final 2019 tax levy, <br />collectible in 2020 on or before December 30, 2019. <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 unknowns. The levy also includes voter -approved levies of <br />$178,080 to service debt for the Birch/Ware and Lake/Main intersection signalization projects and <br />$222,692 to service debt for the Shenandoah Street Reconstruction project. The total proposed tax <br />levy for 2019/20 is $10,491,518 which is equal to the preliminary levy adopted in September. The <br />proposed levy represents an increase of $436,102, or 4.34% over the 2018/19 tax levy. The tax rate <br />is estimated to decrease for 2020 from 41.817% to 39.766%. <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. 19-167. <br />ATTACHMENTS <br />2020 Final Proposed Budget & Tax Levy <br />Resolution No. 19-167 <br />