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1 <br />1 <br />1 <br />COUNCIL WORK SESSION OCTOBER 2, 1991 <br />Council Member Kuether asked what the impact on the Lino Lakes <br />budget would be if consolidation was approved? Mr. Schumacher <br />explained that this is one (1) issue that will be addressed by <br />the consolidation commission. Other issues would include the <br />impact on state aid, the impact on municipal state aid for <br />streets as well as many other issues. <br />Council Member Kuether asked why residents of Centerville are <br />actively pursuing consolidation? Mr. Schumacher explained that <br />the taxes are high in Centerville and the residents appear to <br />not be getting all of the benefits the residents of Lino Lakes <br />are getting. <br />Mr. Schumacher asked each Council Member to suggest candidates <br />for the consolidation commission and candidates for chair of this <br />commission. <br />TAX CAPACITY RATE <br />Ms. Schloer distributed a 1992 Budget folder to each Council <br />Member. She noted that this folder can be easily updated after <br />each 1992 Budget work session. <br />The purpose of this portion of the work session is for Ms. <br />Schloer to explain how the tax capacity rate is calculated for <br />all properties in Lino Lakes. She also noted receipt of the <br />estimated 1992 levies from the County. Ms. Schloer had prepared <br />an outline of what the estimated 1992 property tax statement <br />would look like for homes valued at $80,000.00, $100,000.00, <br />$110,000.00 and $200,000.00 for each of the three (3) school <br />districts in Lino Lakes. <br />Ms. Schloer outlined how tax capacity is calculated for each <br />parcel of property. The formula may change from year to year. <br />For 1992, the rate is determined as follows: <br />1st $72,000.00 of market value - 1% <br />$72,000.00 to $115,000.00 - 2% <br />over $115,000 - 2.5% <br />For an $80,000 home the rate is $880, a $100,000 home, $1,280, a <br />$110,000 home, $1480 and for a $200,000 home, $3,705. Ms. <br />Schloer explained that if all information received from the <br />County remains the same, property taxes in Lino Lakes will go <br />down slightly in 1992. The formula used for the 1992 property <br />taxes does not take into consideration the large increase in <br />population or does not allow for any credit for inflation. <br />There was discussion regarding fiscal disparities. Mr. <br />PAGE 2 <br />126 <br />