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YEAR & <br />STATUTE <br />REFERENCE <br />CITY OF LINO LAKES. MINNESOTA <br />STATE LEGISLATIVE ACTION <br />Appendix A <br />Page 6 of 12 <br />INITIAL YEAR <br />ESTIMATED <br />IMPACT <br />1991 #19 Approved adjustments to residential homestead <br />MS 273.13 property (class la). Adjusted rates are as follows: <br />Subd. 22 <br />First Tier of Market Value <br />Up to $68,000 <br />Up to $72,000 <br />Payable Payable Payable <br />1991 1992 1993 <br />Rate Rate Rate <br />1.00% <br />Second Tier of Market Value <br />$68,001 to $110,000 2.00% <br />$72,001 to $115,000 <br />over $72,000 <br />Third Tier of Market Value <br />over $110,000 <br />over $115,000 <br />3.00% <br />1.00% 1.00% <br />2.00% <br />2.50% <br />2.00% <br />The change in class <br />rates applied to <br />residential property <br />will not impact the <br />total revenue raised <br />by the City or shift <br />the tax burden <br />between property <br />classes but rather will <br />increase the amount <br />of HACA received <br />by the City. (see <br />#20) Note: The <br />increased HACA <br />payments are subject <br />to adequate revenue <br />available in the local <br />government trust <br />fund. (see #25) <br />Prepared by Tautges, Redpath & Co., Ltd. <br />April 30, 1992 <br />