10-23-1995 - Laserfiche WebLink

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Mr. McCarty asked about the 18 % increase in the general contingency. Additionally, there is a new "Contingency -Council" fund. He wondered how these two figures compare with last year. Ms. Orduno stated this is where the pedestrian bridge was incorporated. Mr. Brager, Finance Director, stated the debt service funds for the water fund and the golf course fund are listed separately, as it is a state requirement. Julie Olson, 2663 Lake Court Circle, stated she has some questions in regard to the Estimated Market Value Change graph on pg. 47. She wondered what the determining factor of no change for homes versus the homes that did change. The biggest factor only attributed to 1 % to 5 % of the homes. Mayor Linke stated that all market values are done by the county. Mr. Brager noted that the table reflects the 1996 figures. Ms. Olson stated she understood that city has not obtained the final numbers from Ramsey County yet, so therefore, she assumes that the graph represents only their estimations. . Ms. Orduno stated yes, it changes weekly. The city may not receive the final figures from the county until after the levy is certified. Ms. Olson asked if the determination on the percentage of increase is made by Ramsey County, why does the city submit a proposed percentage increase in order for them to make the determination. Mayor Linke stated this is state law. The state requires that it be provided to the county to show the maximum amount that the city will levy. This number can decrease but it cannot increase. Ms. Olson asked what percentage of levy increase was proposed to the county last year. Mayor Linke stated it was approximately 5 % last year. The increase actually amounted to only 2.5 %. Ms. Orduno reminded Ms. Olson that property value and the levy are two entirely different things. The county does not care what the city's levy is. They come in and do an evaluation based upon a formula as to what property values will be. It does not matter what the city will be doing in terms of the levy.