10-24-1994 - Laserfiche WebLink

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A _.,,,, __-', i ,,-,:, ii ,- -MP Mounds View City Council tr i.Li Page 16 • Regular Meeting October 24, 1994 Linke explained that the tax capacity rate for 1995 is 26. 395%, an increase of 1.95%. He stressed that this figure could change after the levy is set. Using charts, Linke pointed out the average home comparisons for 1993, 1994 and 1995, and explained that the County has set the value of the average home in Mounds View at $87,908. In three years the value of the average home in Mounds View has increased nearly $4, 000. The net levy has increased 4% from last year. Multiplying the tax capacity value for the "average" single family home times the current rate will come to approximately $274. This is an increase of about $16 from last year. Linke noted that the County sets the tax value of a home. Duane McCarty, 8060 Long Lake Road, affirmed this and added that the value of a home is market-driven. It's a willing- buyer, willing-seller market. Don Brager, Finance Director, explained the process of setting • the tax value of a home from the County's perspective. 1110 Notices are sent to the residents in January indicating the value of their home and stating the procedures to appeal this through the County Board of Equalization. In the past, there have been so many appeals that it takes until December to resolve them. Bill Frits, 8072 Long Lake Road, commented that he is very happy to see that the Council is taking good recognizance of the mandated funds. He felt that a large mandated fund is the one that the Council levies against the homeowner. Linke offered as an example of an unfunded mandate the State's requirement for water testing. The City is required to collect funds from the residents to be paid to the State for this service; however, City maintenance personnel collect the water samples. If there are any funds left over, they go into a State General Fund, not back to the City. Samantha Orduno mentioned that a half percent was added to the sales tax to be used to fund Local Government Aid. The State was to take that half percent, put it in a dedicated fund and from that, fund Local Government Aid to the City. However, over the course of two years, that fund has been raided to support 16 State General Funded Programs--some to a large degree, some to a small degree.