HomeMy WebLinkAbout2004-132 Council Resolution•
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CITY OF LINO LAKES
RESOLUTION NO. 04-132
RESOLUTION ADOPTING AND CERTIFYING THE PRELIMINARY 2004 TAX LEVY, COLLECTIBLE IN
2005
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 2005 General Fund operating
budget and the preliminary 2004 tax levy collectible in 2005; and,
WHEREAS, the preliminary levy is the maximum that the City will levy for tax year 2004 collectible in
2005, and which may be lowered but cannot be increased before adopting the final tax levy;
and,
WHEREAS, the City Council must certify the preliminary 2004 tax levy collectible in 2005 to the Anoka
County Auditor by September 15, 2004.
NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of Lino Lakes, Anoka County,
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 2004 to be spread for taxes due and payable in the year
2005 is $7,269,302.
2. The total amount above levied is for the following purposes:
General Operating Levy $6,215,313
Special Levies
Increased PERA Contribution 8,898
Tax Abatement — Target & Kohl's 118,000
General Bonded Debt
Public Project Revenue Bond
Civic Complex Bond 1998A
G.O. Improvement Bond 1998B
G.O. Improvement Bond 2003B
Equipment Certificates of 2002
Equipment Certificates of 2003A
Equipment Certificates of 2003B
Equipment Certificates of 2004
Total General Obligation Bonded Debt
TOTAL LEVIES
Adopted by the Lino Lakes City Council this 13th day of Se ember, 2004.
Ann J. r, City Clerk
135,479
332,525
151,072
23,668
50,085
52,605
74,550
107,107
927,091
$7.269,302
Johra(/J. Berge ,•T, May
AGENDA ITEM 2B
• STAFF ORIGINATOR Al Rolek
MEETING DATE September 13, 2004
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TOPIC Consideration of Resolution 04 -132 adopting the preliminary 2004
Tax Levy, collectible in 2005.
Simple Majority
VOTE REQUIRED
BACKGROUND
State Statutes require the City of Lino Lakes to adopt and certify a preliminary tax levy
for the coming year on or before September 15th of each year.
The Minnesota State Legislature has allowed levy limits to sunset for the 2004/05 budget year.
Market Value Homestead Credit Aid is to be reinstated for 2005; however, the City will again
receive no Local Government Aid in 2005. The proposed budget incorporates several new staff
positions and reinstates some of the programs that were suspended during the state budget
crisis. In addition, Council has budgeted additional funds for street maintenance and repair which
needs are outlined in a draft pavement management plan. With these changes to the budget, the
levy as proposed will increase by 10.97% over 2004, while the tax base grew by 14.62 %. The
proposed levy is expected to result in a steady city tax rate for 2005; however, given market
adjustments on property values, the city tax is anticipated to increase by approximately 5 - 10%
on the average property.
The proposed levy in Resolution 04 -132 is the City's maximum levy for 2004/05. The final levy
may be decreased, but can not be more than the proposed levy when it is adopted in December.
The total levy includes funding for the general operating budget, general bonded debt and a tax
abatement under agreements between the City and Target and Kohl's.
The levy will be further reviewed by the City Council and staff between September 13th and
December 13th, for changes if necessary.
OPTIONS
1. Adopt Resolution 04 -132 adopting the proposed 2004 tax levy, collectible in 2005.
2. Return to Staff for further review.
RECOMMENDATION
Option 1