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2013-100 Council Resolution
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2013-100 Council Resolution
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Last modified
10/3/2014 10:42:11 AM
Creation date
10/3/2014 9:52:46 AM
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City Council
Council Document Type
Master List Resolution
Meeting Date
09/09/2013
Council Meeting Type
Regular
Resolution #
13-100
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• <br />CITY COUNCIL <br />AGENDA ITEM 2A <br />STAFF ORIGINATOR: Al Rolek <br />MEETING DATE: September 9, 2013 <br />TOPIC : Consideration of Resolution No. 13 -100 adopting the preliminary 2013 <br />Tax Levy, collectible in 2014. <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 $8,341,329 will increase city taxes by $125,701 over the 2012 /13 tax <br />levy. The levy includes $174,943 for the first year of the voter - approved debt service levy for the <br />signalization of the Lake/Main and Birch/Ware intersections. Without the voter - approved levy the 2013/14 <br />levy would decrease by $49,242, the fifth consecutive year of operating levy decreases. The levy is <br />estimated to result in a city tax rate of 47.987% for 2014. <br />The State Legislature re- imposed a levy limit for levies collectible in 2014 for cities over 2,500 <br />• in population. For 2014 the City's levy limit has been calculated at $8,227,259. The amount of <br />the preliminary levy that is subject to the levy limit (debt service levies are exempt) is <br />$7, 144,207. This leaves the preliminary levy $1,083,052 below the state mandated limit. <br />The preliminary levy in Resolution 13 -100 represents the City's maximum levy for 2013 /14. 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. 13 -100. <br />ATTACHMENTS <br />Resolution No. 13 -100 <br />• <br />Page 29A — 29B <br />
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