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2001-132 Council Resolution
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2001-132 Council Resolution
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City Council
Council Document Type
Resolutions
Meeting Date
09/10/2001
Council Meeting Type
Regular
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AGENDA ITEM 3B(ii) <br />STAFF ORIGINATOR Al Rolek <br />DATE September 5, 2001 <br />TOPIC Consideration of adopting the preliminary 2001 Tax Levy, collectible <br />in 2002. <br />Simple Majority <br />VOTE REQUIRED <br />BACKGROUND <br />Minnesota State Statutes require the City of Lino Lakes to adopt and certify a preliminary tax levy <br />for the coming year on or before September 15th of each year. <br />Legislative action during the last session has made a large impact on the City's levy for the <br />coming year. The legislature took over funding of general education and compressed the <br />property class rates for all classes of property. The state legislature also eliminated Homestead <br />and Agriculture Credit Aid (HACA) to cities for this and future years. This funding will be used to <br />offset the state's cost of general education funding. This leaves a large funding gap for the city if <br />services are maintained at their present level. The legislature has allowed cities to increase their <br />levy to make up this funding gap. The proposed levy for Lino Lakes includes such an increase to <br />make up this difference. This increase will be more than offset by a decrease in the school district <br />levy, which will be made up by the state. The net result should be a decrease in property taxes in <br />2002. <br />The proposed levy may be decreased when the final levy is adopted in December. The final levy <br />can not be more than the proposed levy. <br />The total levy includes dollars for the general operating budget as well as dollars for general <br />bonded debt. <br />The levy will be further reviewed by the City Council and staff between September 15th and <br />December 10th, for changes if necessary. <br />OPTIONS <br />1. Adopt the proposed 2001 tax levy, collectible in 2002. <br />2. Return to Staff for further review. <br />RECOMMENDATION' <br />Option 1 <br />
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