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July 13, 1983 <br />• estimated 1984 Revenue <br />Page 2 <br />I have calculated estimated mill rates for each (jption, most likely <br />these mill rate estimates are on the high side for several reasons. The <br />estimated Assessed Valuations obtained from Ramsey County do not include <br />fiscal disparities values, which are not yet available. The levy for <br />bonded indebtedness was based upon the ol(l special assessment debt study; <br />the new one won't be available until late August or early September. <br />Levy limit calculations and local government aid amounts are preliminary <br />estimates and are subject to change. The Department of Revenue is re- <br />quired by the Omnibus Tax Rill to provide those figures no later than <br />August 15. <br />Should the first option, patterning the 19804 budget after 1983, be adopted <br />the over all mill rate would rise 0.9240 mills to 13.38-5 mills. A com- <br />parison to 1983 mill rates is presented below: <br />Funds <br />1984 <br />1983 <br />Difference <br />General <br />10.888 <br />9.989 <br />+0.899 <br />Forestry <br />0.376 <br />0.347 <br />+0.029 <br />Debt <br />2.122 <br />2.126 <br />-0.004 <br />13.386 <br />12.462 <br />+0.9240 <br />If the second option, exercising all levy options available pursuant to <br />provisions of the Omnibus Tax Bill, be adopted the over allmill rate <br />would be 15.780 mills, a difference of 3.318 mills over the 1983 mill <br />rate of 12.462 mills. These rates are compared to 1983 rates below: <br />Funds <br />1084 <br />19R3 <br />Difference <br />General <br />13.022 <br />9.989 <br />+3.033 <br />Forestry <br />0.382 <br />0.347 <br />+0.035 <br />Debt <br />2.376 <br />2.126 <br />+0.250 <br />15.780 <br />12.462 <br />+3.318 <br />The memorandum on budget policy issues idenLitied the issuer relating <br />to tax levies. These are: <br />1) Should the City levy for the toss of local government aid? <br />2) Should the City take advantage of the change in the levy <br />limit formula and levy to the maximum allowed? <br />3) Should the City special levy for the Forestry program? <br />4) Should equipment debt certificates be issued and the City <br />levy for their principal and interest? <br />f� <br />4 <br />