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CITY COUNCIL <br />AGENDA ITEM 2A <br />• STAFF ORIGINATOR: Al Rolek <br />MEETING DATE: September 10, 2012 <br />TOPIC : Consideration of Resolution No. 12 -91 adopting the preliminary 2012 Tax <br />Levy, collectible in 2013. <br />• <br />• <br />VOTE REQUIRED: Simple Majority <br />BACKGROUND <br />Minnesota State Statutes require the City of Lino Lakes to adopt and certify a preliminary tax levy for the <br />coming year on or before September 15th of each year. <br />The proposed preliminary tax levy of $8,215,628 will decrease city taxes by $11,631 from the 2011/12 tax <br />levy and marks the fourth consecutive-year of levy decreases. The proposed levy is estimated to result in a <br />city tax rate of 46.715% for 2013. <br />The proposed levy in Resolution 12 -91 represents the City's maximum levy for 2012/13. The final levy <br />may be decreased, but can not be more than the preliminary levy when it is adopted in December. <br />The total levy includes funding for the general operating budget, general bonded debt and tax abatements <br />for debt service for the YMCA bonds. <br />The levy may be further reviewed by the City Council and staff prior to the public hearing on the levy in <br />December for changes, if necessary. <br />RECOMMENDATION <br />Staff recommends Adoption of Resolution No. 12 -91. <br />ATTACHMENTS <br />Resolution No. 12 -9 -1 <br />