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Mounds View City Council December 3, 2007 <br />Truth-in-Taxation Meeting Page 3 <br />C~ <br />• <br />~ <br />Finance Director Beer indicated that as the City's tax capacity increases, the tax rate goes down <br />and that is what is applied to the valuation to base t~es upon. <br />Council Member Hull asked how much personnel costs have increased from last year's budget. is <br />up from last year. <br />Finance Director Beer indicated that costs went up about $190,000 but that is an increase of only <br />about 1 %. <br />Council Member Stigney indicated that Council has not resolved how much would need to be <br />paid back for a proposed street improvement project, so that information may be subject to <br />change. <br />Finance Director Beer explained that is an amounf built into the street f nancing plan, but the <br />levy may change if Council decides to refund more than is proposed.: ' <br />cities and how the City <br />~ Medtronic. He then said <br />is TIF, and how much is <br />3.5 million that ta~ces are <br />~n City taxes and, in order <br />ad of setting a rate. <br />Finance Director Beer indicated that the levy is usually set based on needs and the rate is set <br />based upon need. <br />Council Member Flaherty asked about the $121,000 in local government aid. <br />Finance Director Beer indicated that the figure has been confirmed. <br />MOTION/SECOND: Marty/Stigney. To Close the Truth-in-Taxation Public Hearing. <br />Council Member Stigney asked whether the franchise fee was''`!:fi~ured in. <br />