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09/23/2014
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09/23/2014
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7/24/2015 1:09:06 PM
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7/24/2015 12:59:42 PM
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City Council
Document Type
Council Agenda/Packets
Meeting Date
9/23/2014
Meeting Type
Regular
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i'N-rCIL <br />1L <br />LAUvLRIDALE COU <br />A I CY ( _r RM <br />1L ` <br />Action Requested <br />Consent <br />Public Hearing <br />Discussion _X <br />Action <br />Resolution _X <br />Work Session <br />Meeting Date September 23 , 2014 <br />ITEM NUMBER 2015 Budget and Levy <br />STAFF INITIAL <br />Based on the discussion at the last council meeting, staff prepared a resolution that would <br />raise the total levy by 1.3% to $624,357. The local levy would remain the same at <br />$495,281. As we touched on a couple of meetings ago, the commercial and industrial prop- <br />erty values are flat while the residential values are going up seven percent.. This means that <br />in spite of holding the levy flat, homeowners still will likely see a small increase in their <br />property taxes. <br />To create a balanced budget, a transfer from the Development Fund into the General Fund is <br />shown. Ultimately, I will -show in the budget a transfer from the fund the Council decides to <br />deposit the Eldercare fees into. The special revenue fund budgets will be worked on later <br />this fall. <br />Based on the levy amount set by the Council, the County will calculate everyone's estimated <br />property taxes for 2015 and mail notices in November. The notice will include the date of <br />the public hearing at which the Council will take comments. As the Council doesn't sched- <br />ule a second meeting in December, that public hearing will be on December 9. The County <br />continues to revise theirproperty value estimates until the end of the year so the tax rate for <br />the year won't be finalized until then. <br />As you know, the preliminary levy sets the ceiling for the levy for 2015. The Council can <br />set the preliminary levy and then decrease it when establishing the final levy. The final levy <br />can not be higher than the preliminary levy. <br />Motion to adopt Resolution 092314A <br />2015 in the Amount of <br />Truth in Taxation Hearing. <br />- A Resolution Levying Taxes for 2014 Payable* in <br />and Establishing December 9 as the Date of the <br />
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