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CITY COUNCIL <br />AGENDA ITEM 2A (i) <br /> <br /> <br />STAFF ORIGINATOR: Hannah Lynch , Finance Director <br /> <br />MEETING DATE: December 13, 2021 <br /> <br />TOPIC: Consider Resolution No. 21-145, Adopting the Final 2021 Tax <br />Levy, Collectible in 2022 <br /> <br />VOTE REQUIRED: 3/5 <br /> <br /> <br />BACKGROUND <br /> <br />Minnesota State Statutes require the City of Lino Lakes to adopt and certify a final 2021 tax levy, <br />collectible in 2022 on or before December 28, 2021. <br /> <br />The total levy includes both an operating levy and debt service levy. The operating levy provides <br />resources for general city operations, Blue Heron Days, equipment replacement, street maintenance, <br />and park and trail improvements. The debt levy provides resources for the payment of interest and <br />repayment of principal on bond issues. The debt levy also includes voter-approved levies of <br />$178,794 to service debt for the Birch/Ware and Lake/Main intersection signalization projects and <br />$216,497 to service debt for the Shenandoah Street Reconstruction project. <br /> <br />The total proposed tax levy for 2021/22 is $11,819,287 which is $49,757 or 0.42% lower than the <br />preliminary levy adopted in September. The proposed levy represents an increase of $677,472, or <br />6.08% over the 2020/21 tax levy. The tax rate is estimated to decrease for 2022 from 40.109% to <br />40.088%. <br /> <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 /> <br />The City Council needs to take final action on the tax levy at this time. <br /> <br />RECOMMENDATION <br /> <br />Staff recommends the approval of Resolution No. 21-145. <br /> <br />ATTACHMENTS <br /> <br />2022 Final Proposed Budget & Tax Levy <br />Resolution No. 21-145