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12-14-2020 Council Packet
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12-14-2020 Council Packet
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City Council
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12/14/2020
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CITY COUNCIL <br />AGENDA ITEM 2A (i) <br />STAFF ORIGINATOR: Hannah Lynch <br />MEETING DATE: December 14, 2020 <br />TOPIC: Consider Resolution No. 20-154, Adopting the Final 2020 Tax <br />Levy, Collectible in 2021 <br />VOTE REQUIRED: 3/5 <br />BACKGROUND <br />Minnesota State Statutes require the City of Lino Lakes to adopt and certify a final 2020 tax levy, <br />collectible in 20 21 on or before December 28, 2020. <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 />$175,896 to service debt for the Birch/Ware and Lake/Main intersection signalization projects and <br />$219,227 to service debt for the Shenandoah Street Reconstruction project. The total proposed tax <br />levy for 2020/21 is $11,141,815 which is equal to the preliminary levy adopted in September. The <br />proposed levy represents an increase of $650,297, or 6.20% over the 2019/20 tax levy. The tax rat e <br />is estimated to decrease for 2021 from 39.870% to 39.437%. <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. 20-154. <br />ATTACHMENTS <br />2021 Final Proposed Budget & Tax Levy <br />Resolution No. 20-154
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