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7.7 _= 11.0 r7L -,,,,..t REQUEST FOR COUNCIL CONST_D H;xATIO Agenda�`r'oa: R.eaor:Nu.:.ber. 94-130.1 C STA111( ORT Rzpor.Dart: 9-$-94 Gourd mon: 0 Specai Or^ar of 3usires: September 12, 1994 �, CITY COUNCU. YLEETTIG DATE Pubdc uc Hearn C Consent Agenda Ig Council Business Item Descrpron: Consideration of Resolution No. 4626 "A Resolution Certifying the 1995, The 1995 Proposed Operation Budget, 1995 Proposed Property Tax Levies and Setting the Date —fax a, Public Hearing on the Samc Administ.acor's Raviewil?acommerdation: No comments to supplement this repo Comments attached. Expiana:ion Sumar; (areae: suppiezaeet sheets as aecessari.) T71,f14j.t Ry; Attached please find Resolution 4626 which: 1) certifies to Ramsey County the City's Proposed 1995 Property Tax Levy, and 2) sets the City's public hearing on the 1995 Budget for Wednesday November 30, 1994 at 7:00 p.m.(if a continuation of the hearing is necessary it is scheduled for Wednesday December 7, 1994 at 7:00 p.m.). The City's proposed 1995 property tax levy is 4.3% greater than the 1994 levy. The estimated effect upon the average homeowner($87,908 home) is an increase in the City's shar-e of the property tax levy of $16.10. That estimate is based upon the home's estimated market value increasing by 2.3% from 1994 to 1995 and the latest estimates of the City's aggregate net tax capacity values from the County. I have learned that the County will use updated values to prepare Truth In Taxation notices mailed to taxpayers. When those estimates become available I will recalculate the impact of the City's levy upon the average homeowner. RECOMMENDATION: Adopt Resolution No. 4626, "A Resolution Certifying The 1995 Proposed Operating Budget, 1995 Proposed Property Tax Levies, And Setting The Date For A Public Hearing On The Same." Donald Brager, Finan iti Director l