Laserfiche WebLink
YEAR & <br />STATUTE <br />REFERENCE <br />CITY OF LINO LAKES. MINNESOTA <br />STATE LEGISLATIVE ACTION <br />Appendix A <br />Page 7 of 11 <br />INITIAL YEAR <br />ESTIMATED <br />IMPACT <br />1990 Ch. 604 #15 Levy limits for Cities repealed starting with <br />— <br />Art. 3 Section 47 collectible 1993 levy. <br />Anticipated extension <br />and delay of start <br />likely to result in no <br />impact. <br />1990 #14 Approved potential LGA and HACA cuts related to <br />.. MS 273.1399 tax increment districts formed after April 30, 1990. <br />Subd. 5 <br />limoo <br />lama <br />Estimated reduction <br />in aids not calculated. <br />Legislation designed <br />to discourage new <br />tax increment <br />districts. <br />1990 <br />MS 477A.013 <br />Subd. 7 <br />#13 Further reductions in LGA to cities. The Legislature <br />reduced LGA by 1.53% of the revenue base. This <br />permanent cut occurred after City budgets were adopted and <br />the operating year was one third elapsed. The Legislation <br />did not provide a replacement revenue source. <br />Statewide decrease <br />in 1990 LGA <br />$14.4 million, City <br />of Lino Lakes <br />decrease $26,300. <br />1990 <br />MS 273.1398 <br />— <br />Subd. 2 <br />#12 The prior year (1990) HACA cut related to LGA is <br />extended to also reduce 1991 HACA. HACA base <br />established at 1991 levels. Subsequent increases based on <br />growth (household) and a suppressed cost of living percent. <br />Reduction equal or <br />greater than 1990 <br />HACA cut. <br />1990 #11 Commercial property tax rates lowered. (See #21) <br />MS 273.13 <br />Subd. 24 & 32 <br />First $100,000 of <br />market value <br />Market value over <br />$100,000 <br />1990 1991 <br />Rate Rate <br />3.30% 3.20% <br />5.06% 4.95% <br />1992 1993 <br />Rate Rate <br />3.10% 3.00% <br />Targeted to <br />eventually be 4% <br />Tax burden shifted to <br />residential and other <br />property classes. <br />Existing commercial <br />based tax increment <br />districts to produce <br />lower revenue <br />stream to cities. <br />Prepared by Voto, Tautges, Redpath & Co., Ltd. <br />June 20, 1991 <br />