HomeMy WebLinkAbout2019-121 Council ResolutionCITY OF LINO LAKES
RESOLUTION NO. 19-121
RESOLUTION ADOPTING THE PRELIMINARY 2019 TAX LEVY, COLLECTIBLE IN
2020
WHEREAS, Minnesota State Statutes grant local governments the authority to levy property
taxes to finance the operations of the 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 2020 General Fund
operating budget and the preliminary 2019 tax levy, collectible in 2020; and,
WHEREAS, the preliminary levy is the maximum that the City will levy for tax year 2019,
collectible in 2020, and which may be lowered but cannot be increased before adopting the final
tax levy; and,
WHEREAS, the City Council must certify the preliminary 2019 tax levy, collectible in 2020 to
the Anoka County Auditor by September 30, 2019.
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 2019 to be spread for taxes due and payable in the year of
2020 is $10,491,518.
2. The total amount levied is for the following purposes:
General Operating Levy $8,368,756
Bonded Indebtedness
G.O. Bond 2012A 178,080
G.O. Bond 2015A 271,228
Equipment Certificates 2015B 214,216
Equipment Certificates 2017 111,353
Equipment Certificates 2018 107,100
Equipment Certificates 2019 140,119
EDA Lease/Revenue Bond 2015 317,297
G.O. Tax Abatement Refunding Bond 2016C 301,570
G.O. Bond 2018A 481,799
Total Bonded Indebtedness: 2,122,762
TOTAL LEVIES $10,491,518
Adopted by the Council of the City of Lino Lakes this 23rd day of September, 2019.
The motion for the adoption of the foregoing resolution was introduced by Council Member
Manthey and was duly seconded by Council Member Maher and upon
vote being taken thereon, the following voted in favor thereof:
Manthey, Maher, Stoesz, Reinert
The following voted against same:
none (Absent - Rafferty)
ATTEST:
7uli ne Bartell, C y Cle
CITY COUNCIL
AGENDA ITEM 2A
STAFF ORIGINATOR: Sarah Cotton
MEETING DATE: September 23, 2019
TOPIC: Resolution No. 19-121, Adopting the Preliminary 2019 Tax Levy,
Collectible in 2020
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 2020.
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 9, 2019 Work
Session. Staff has prepared this report and Resolution No. 19-121 based on the figures that were
reviewed on September 9t. The City Council has scheduled a Special Budget Work Session prior to
the regular City Council meeting on Monday, September 23ra
The preliminary 2019/2020 levy includes resources for on -going city operations, capital outlay and
equipment replacement, and contingencies for unforeseen expenditures. The proposed preliminary
tax levy of $10,590,518 represents a $535,102 or 5.32% increase over the 2018/2019 tax levy. Over
the last year the City's net tax capacity value has grown by an estimated 9.56%. The levy is estimated
to result in a city tax rate of 40.115% for 2020, a reduction from the 2019 tax rate of 41.817%.
The preliminary levy in Resolution No. 19-121 represents the City's maximum levy for 2020. 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. 19-121.
ATTACHMENTS
Resolution No. 19-121
General Fund Forecast Gap Analysis
2020 Proposed Budget & Tax Levy