02/13/2012 Council Packet (2) - Laserfiche WebLink

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Figure 4. Projected Property Tax Impacts Projected Property Tax Impacts $228,400 Residential Homestead Year Projected Tax Rate Impact (5% Growth) 1.529% Annual Impact $ 34.93 Projected Tax Rate Impact (7.5% Growth) 1.529% Annual Impact $ 34.93 Projected Tax Rate Impact (10% Growth) 1.529% Annual Impact $ 34.93 2005 2006 1140% $ 48.87 2090% $ 47.73 2.042% $ 46.65 2007 2.605% $ 59.49 2.485% $ 56.76 2.373% $ 54.21 2008 3.429% $ 7831 3.195% $ 72.97 2.982'% $ 68.11 2009 4.240% $ 96.83 3.859% $ 88.13 3.520% $ 80.39 2010 5.107% 5 116.63 4.540% $ 103.69 4.047% $ 92.43 2011 5.393% $ 123.18 4.683% $ 106.96 4.080% $ 93.18 2012 5.656% $ 129.19 4.797% $ 109.57 4.084% $ 93.28 2013 5.901% 5 134.78 4.889% $ 111.66 4.067% $ 92.90 2014 6.140% $ 140.23 4.968% $ 113.47 4.039% $ 92.26 • Unique Charter Of the 854 cities in Minnesota, 107 are charter cities. Only two have provisions that hobble a City Council's ability to reconstruct streets. According to analysis by the League of MN Cities, "...no other charter city in Minnesota has a charter provision requiring a referendum on special assessments." Ed Cadman, Research Attorney, League of MN Cities Comparing Lino Lakes' charter (Section 8.04, subdivision 2) with corresponding special assessment and local improvement provisions of other charter cities, Mr. Cadman adds, "I have found no other city which has a similar mandatory referendum in its charter. The closest charter to Lino Lakes in this respect is found in Mounds View..." Mounds View's charter does not require a referendum but it is similar to Lino Lakes' charter regarding petitions (see Appendix E). 6 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1