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11/30/1998 Council Minutes
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11/30/1998 Council Minutes
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City Council
Council Document Type
Council Minutes
Meeting Date
11/30/1998
Council Meeting Type
Special
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TRUTH IN TAXATION HEARING NOVEMBER 30, 1998 <br />classifications and class rates which also had the effect of increasing the city's tax rate. <br />Mr. Sulander noted that the State Legislature felt the high value home owners, apartment <br />owners and commercial property owners were paying more than their fair share of <br />property taxes. To compensate for this disparity, rates on these properties were reduced. <br />The change in the formula resulted in a 1.3% increase in the 1999 Lino Lakes tax rate. <br />Additional bond payments resulted in a 5% increase in the levy and additional budget <br />requests added another 2.1% increase in the levy. <br />Mr. Sulander explained how much of each tax dollar goes to each taxing entity noting <br />that the school districts get approximately 45% of the dollar. He also explained how the <br />Lino Lakes portion of the tax dollar is used in Lino Lakes. <br />Mr. Sulander noted that the City uses Certificates of Indebtedness to purchase specific <br />capital equipment each year. The Certificates are funded internally. Mr. Tesch explained <br />that because Lino Lakes financial position is very good, Moody's Investors has increase <br />the City's bond rating to A3. <br />Mayor Sullivan explained to the audience again that Council is taking comments about <br />the 1999 proposed budget and tax levy tonight and opened the public hearing at 6:22 p.m. <br />She asked that persons with questions, come to the podium and state their names and <br />address. <br />Don Dunn, 6885 Black Duck Drive said it appears that the tax rates are close to being set. <br />He said he was concerned about where Lino Lakes moves forward. He felt the City <br />Council has to change. He noted staff level will not change. Mr. Dunn suggested five (5) <br />things have to change to achieve a constant tax levy: <br />1. Appoint an Executive of Interest Person. Long term commercial and industrial tax <br />base must be managed. Mr. Dunn suggested that Council Members Dahl and <br />Lyden be appointed to this position. <br />2. Support Village Civic Center. Mr. Dunn noted that staff had presented a plan for <br />the Village that would pay for itself. He asked Council to show how items fit <br />together and show how it all comes together to pay for itself. <br />3. Road Improvement Plan. Mr. Dunn explained that there is no money in the 1999 <br />budget for street improvement. He asked the Council to dedicate a portion of the <br />3.5 million dollar reserve to a street improvement fund. He suggested that the <br />Council start by designating one million dollars to this fund. Mr. Dunn explained <br />that there will always be a need for street improvement funding. Ignoring the <br />situation creates large variances in the tax levy from year to year because each <br />improvement project must be approved by a referendum and the entire cost is then <br />assessed to the entire City. <br />PAGE 2 <br />• <br />• <br />• <br />
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