HomeMy WebLinkAbout2003-146 Council Resolution•
CITY OF LINO LAKES
RESOLUTION NO. 03-146
RESOLUTION ADOPTING AND CERTIFYING THE PRELIMINARY 2003 TAX LEVY, COLLECTIBLE IN
2004
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 Minnesota State Legislature during the 2003 legislative session cut 100% of Local
Government Aid and Market Value Homestead Credit Aid that the City was to receive for
2003 and 2004, amounting to $546,816; and,
WHEREAS, the Minnesota State Legislature has restricted general tax levies to the amounts levied for
2002/03, but has allowed cities to include in their 2003/04 tax levies 60% of lost Local
Government Aid and Market Value Homestead Credit Aid; and,
WHEREAS, to avoid a sever reduction in city services the 60% of lost Local Government Aid and Market
Value Homestead Credit Aid has been incorporated into the preliminary 2003/04 tax levy;
and,
WHEREAS, the City Council of Lino Lakes has reviewed the proposed 2004 General Fund operating
budget and the preliminary 2003 tax levy collectible in 2004; and,
• WHEREAS, the preliminary levy is the maximum that the City will levy for tax year 2003 collectible in
2004, and which may be lowered but cannot be increased before adopting the final tax levy;
and,
•
WHEREAS, the City Council must certify the preliminary 2003 tax levy collectible in 2004 to the Anoka
County Auditor by September 15, 2003.
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 2003 to be spread for taxes due and payable in the year
2004 is $6,550,620.
2. The total amount above levied is for the following purposes:
General Operating Levy $5,500,866
•
•
Special Levies
Increased PERA Contribution 8,281
Tax Abatement — Target & Kohl's 114,395
General Bonded Debt
Public Project Revenue Bond 140,716
Civic Complex Bond 1998A 325,988
G.O. Improvement Bond 1998B 154,876
Equipment Certificates of 2001 122,430
Equipment Certificates of 2002 52,920
Equipment Certificates of 2003A 62,948
Equipment Certificates of 2003B 67,200
Total General Obligation Bonded Debt 927,078
TOTAL LEVIES $6,550,620
Adopted by the Lino Lakes City Council this 8th day of September, 2003.
Ann 7. Bl'ir, City Clerk
•
AGENDA ITEM 36
STAFF ORIGINATOR Al Rolek
MEETING DATE September 8, 2003
TOPIC Consideration of Resolution 03-146 adopting the preliminary 2003
Tax Levy, collectible in 2004.
Simple Majority
VOTE REQUIRED
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 15th of each year.
The Minnesota State Legislature during the 2003 legislative session cut 100% of Local
Government Aid and Market Value Homestead Credit Aid that the City of Lino Lakes was to
receive for 2003 and 2004, amounting to $546,816 for each year. The Legislature has re -
implemented tax levy limits for 2003/04 and has restricted general tax levies to the amounts levied
for 2002/03; however, cities are allowed to include in their 2003/04 tax levies 60% of lost Local
Government Aid and Market Value Homestead Credit Aid. This amount has been incorporated
into the preliminary 2003/04 tax levy.
• The tax levy proposed for 2003 collectible in 2004 is the maximum levy allowed under the city's
levy limit. The proposed levy will result in a decrease in the city's tax rate for 2004 and may
reduce the city share of the tax bill for property owners.
•
The proposed levy in Resolution 03-146 is the City's maximum levy for 2003/04. 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 8th and
December 8th, for changes if necessary.
OPTIONS
1 Adopt Resolution 03-146 adopting the proposed 2003 tax levy, collectible in 2004.
2. Return to Staff for further review.
RECOMMENDATION
Option 1