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09-08-14 Council Packet
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09-08-14 Council Packet
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City Council
Council Document Type
Council Packet
Meeting Date
09/08/2014
Council Meeting Type
Regular
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CITY COUNCIL <br />AGENDA ITEM 2A <br />STAFF ORIGINATOR: Al Rolek <br />MEETING DATE: September 8, 2014 <br />TOPIC : Consideration of Resolution No. 14-97 adopting the preliminary 2014 Tax <br />Levy, collectible in 2015. <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 />Over the last several months the City Council and staff have met many times to discuss budget and levy <br />considerations for 2015. After much deliberation the City Council has arrived at preliminary tax levy <br />amount for the coming year. The levy includes $480,894 in one-time for startup costs for the Lino Lakes <br />Fire Department to be operational by January, 2016 (plus the City's contribution to the Centennial Fire <br />District), the addition of 2 staff positions, increased efforts for street maintenance, $179,563 for the voter - <br />approved debt service levy for the signalization of the Lake/Main and Birch/Ware intersections, as well as <br />adjustments for ongoing City operations. The proposed preliminary tax levy of $9,166,966 will increase <br />city taxes by 10.5% over the 2013/14 tax levy. Over the last year the City's tax capacity has grown by <br />12.69%. The levy is estimated to result in a city tax rate of 46.500% for 2015, a decrease from the 2014 tax <br />rate of 46.682%. <br />The preliminary levy in Resolution 14-97 represents the City's maximum levy for 2014/15. The final levy <br />may be decreased, but cannot be more than the preliminary levy when it is adopted in December. <br />The total levy includes funding for the general operating budget, including startup costs for the Lino Lakes <br />Fire Department, general bonded debt and tax abatements 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. 14-97. <br />ATTACHMENTS <br />Resolution No. 14-97 <br />
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