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INFORMATIONAL MEMORANDUM <br />TO: HONORABLE MAYOR BISEL, AND CITY COUNCIL MEMBERS <br />FROM: RANDY SCHUMACHER, CITY ADMINISTRATOR <br />DATE: MARCH 21, 1990 <br />RE: 1990 TAX CAPACITY RATES <br />The attached information provides you with a comparison of <br />the 1990 tax impact on local residents. <br />I have used three home values for comparison: <br />$ 90,000.00 <br />$100,000.00 <br />$120,000.00 <br />In reviewing this information, please note that these <br />examples are broken out by individual school district. <br />As we predicted during the budget process, the city's <br />increase in levy had virtually no negative impact on <br />resident's taxes. Even considering the city's loss of <br />$150,000.00 in State Aid to the school districts, the city's <br />tax impact was unchanged. <br />In summary, taxes in most cases were significantly reduced. <br />Those reductions ranged from $495.00 on a $120,000.00 home in <br />the Centennial School District, to $78.00 reduction on a <br />$90,000.00 home in the White Bear Lake School District. <br />- Please note a portion of the City was reassessed <br />in 1989. The attached information on property <br />tax calculations was based on the assumption that a <br />particular piece of property had no value decrease or <br />increase from the previous year- <br />