HomeMy WebLinkAbout2017-102 Council ResolutionCITY OF LINO LAKES
RESOLUTION NO. 17-102
RESOLUTION ADOPTING THE PRELIMINARY 2017 TAX LEVY, COLLECTIBLE IN
2018
WHEREAS, Minnesota State Statutes grant local governments the authority to levy property
taxes to finance the operations of local jurisdiction; and,
WHEREAS, the City of Lino Lakes annually levies property taxes to finance General Fund
operating costs and annual debt service on outstanding indebtedness; and,
WHEREAS, the City Council of Lino Lakes has reviewed the proposed 2018 General Fund
operating budget and the preliminary 2017 tax levy, collectible in 2018; and,
WHEREAS, the preliminary levy is the maximum that the City will levy for tax year 2017,
collectible in 2018, and which may be lowered but cannot be increased before adopting the final
tax levy; and,
WHEREAS, the City Council must certify the preliminary 2017 tax levy, collectible in 2018 to
the Anoka County Auditor by September 29, 2017.
NOW, THEREFORE BE IT RESOLVED that the City Council of the City of Lino Lakes,
Minnesota, hereby does levy on a preliminary basis the following upon taxable property in said
City of Lino Lakes:
1. Total amount levied in the year 2017 to be spread for taxes due and payable in the year of
2018 is $9,776,732.
2. The total amount levied is for the following purposes:
General Operating Levy
Bonded Indebtedness
G.O. Bond 2012A
G.O. Bond 2015A
Equipment Certificates 2015A
Equipment Certificates 2015B
Equipment Certificates 2016
Equipment Certificates 2017
EDA Lease/Revenue Bond 2015
G.O. Tax Abatement Refunding Bond 2016C
Total Bonded Indebtedness:
TOTAL LEVIES
$8,165,859
176,390
274,378
70,258
214,090
167,097
113,087
319,397
276,176
1,610,873
$9,776,732
Adopted by the Council of the City of Lino Lakes this 25th day of September, 2017.
The motion for the adoption of the foregoing resolution was introduced by Council Member
Rafferty and was duly seconded by Council Member Maher and upon
vote being taken thereon, the following voted in favor thereof:
Rafferty, Maher, Manthey, Kusterman, Reinert
The following voted against same:
none
ATTEST:
Ju '.nne Bartell, Cit; Clerk
CITY COUNCIL
AGENDA ITEM 2A
STAFF ORIGINATOR: Sarah Cotton
MEETING DATE: September 25, 2017
TOPIC: Resolution No. 17-102, Adopting the Preliminary 2017 Tax Levy,
Collectible in 2018
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
2018. 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 5, 2017 Work
Session. Staff has prepared this report and Resolution No. 17-102 based on the figures that were
reviewed on September 5t.
The preliminary 2017/2018 levy includes resources for on-going City operations, capital outlay
and equipment replacement, and contingencies for unforeseen expenditures. The proposed
preliminary tax levy of $9,776,732 represents a $284,877 or 3.0% increase over the 2016/2017 tax
levy. Over the last year the City's net tax capacity value has grown by an estimated 8.98%. The
levy is estimated to result in a city tax rate of 42.474% for 2018, a reduction from the 2017 tax
rate of 45.140%.
The preliminary levy in Resolution No. 17-102 represents the City's maximum levy for 2018.
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. 17-102.
ATTACHMENTS
Resolution No. 17-102
General Fund Forecast Gap Analysis
2018 Proposed Budget & Tax Levy