2015-100 Council Resolution - Laserfiche WebLink

Home Search

`-- CITY COUNCIL AGENDA ITEM 2A STAFF ORIGINATOR: Sarah Cotton MEETING DATE: September 28, 2015 TOPIC: Resolution 15-100 Adopting the Preliminary 2015 Tax Levy, Collectible in 2016 VOTE REQUIRED: Simple Majority BACKGROUND Minnesota State Statutes require the City of Lino Lakes to adopt and certify a preliminary tax levy for the coming year on or before September 30th. The City Council and staff have met several times to discuss budget and levy considerations for 2016. The total preliminary levy includes dollars for the general operating budget as well as bonded indebtedness. City Council and staff reviewed a proposed preliminary tax levy at the September 14, 2015 Special Work Session. There was much discussion regarding the reduction of the preliminary tax levy for Pay 2016; however, as no direction was actually given, staff has prepared this report and Resolution 15-100 based on the figures that were reviewed at the September 14, 2015 Special Work Session. The preliminary 2015/2016 levy includes resources for on-going City operations, capital outlay and equipment replacement, the addition of two staff positions (1 patrol officer and 1 inspector), and contingencies for unforeseen expenditures. The proposed preliminary tax levy of $10,007,866 represents a $1,321,794 or 15.2% increase over the 2014/15 tax levy. Over the last year the City's net tax capacity has grown by 0.36%. The levy is estimated to result in a city tax rate of 51.450% for 2016, an increase from the 2015 tax rate of 43.730%. The preliminary levy in Resolution 15-100 represents the City's maximum levy for 2016. The final levy may be decreased, but the preliminary levy cannot be raised when it is adopted in December. The levy may be further reviewed by the City Council and staff prior to the public hearing on the levy in December for changes, if necessary. RECOMMENDATION Staff recommends Adoption of Resolution No. 15-100. ATTACHMENTS Resolution No. 15-100