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Winter 2020 <br />City Hall - 3800 Laverne Avenue North - Lake Elmo, Minnesota 55042 (651) 747-3900City Hall - 3800 Laverne Avenue North - Lake Elmo, Minnesota 55042 (651) 747-3900City Hall - 3880 Laverne Avenue North - Lake Elmo, MN 55042 (651) 747-3900 <br />2020 Budget Update <br />On September 17, 2019, the City Council adopted a 2020 Preliminary Property Tax <br />Levy of $4,949,823 which is an increase of $769,984 or 18.4% over 2019. The City’s <br />Preliminary Tax Rate was set at 23.3959% which is a 2% increase over 2019 tax rates. <br />2020 Preliminary General Fund Budget <br />The operating budget for expenditures for 2020 has an overall increase of $401,907. <br />The increase is due to a number of factors, the larger portions of the increase come <br />from transfers to the Vehicle Replacement Fund, the creation of the Full Time Building <br />Inspector Position, additional sand and salt for the winter, and an additional <br />Washington County Sheriff's Department Deputy. <br />The operating budget has increased revenues of $525,907 over the 2019 budget. This <br />increase is due to building permits, planning, and zoning fees. Cable franchise <br />revenues are increasing as the City builds out. State Fire Aid and Municipal State Aid <br />(MSA) for road maintenance are based on the current estimates done this year. <br />2020 Preliminary City Property Tax Rate <br />The tax rate is calculated using the City’s Taxable Value on property divided by the <br />levy. The levy is made up of the General Fund property tax levy needed to balance the <br />budget and the City’s required debt levies on its outstanding bonds. This table below <br />shows the impact on this to various home values in the City.