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Mounds View Charter Commission Revision – Draft 20210713 <br />Chapter 7, Section 7.03 <br />Date: July 13, 2021 Page1 of 1 <br />Objectives: <br />1)To update and correct language in 7.03 for system of taxation <br />2)In 7.03 Subdivision 1 to increase the annual tax levy limit and avoid future Fund Balance deficits. <br />3)In 7.03 Subdivision 2 to allow a super majority of the Council to approve the higher tax levy cap if <br />necessary to meet Fund Balance needs and avoid State Auditor rules about the Fund Balance. <br />CHAPTER 7 <br />TAXATION AND FINANCES <br />Section 7.03. System of Taxation. Subject to the state constitution, and except as forbidden by it <br />or by state law, the Council shall have full power to provide by ordinance for a system of local taxation. <br />This authority includes the power by ordinance to assess, levy, and collect taxes on all subjects or objects <br />of taxation except as limited or prohibited by the state constitution, by this Charter or by state laws <br />imposing restrictions upon the City irrespective of Charter provisions. <br />Subdivision 1. The City's annual resolution to levy ad valorem taxes (raising money against real <br />and personal property) shall not exceed the lesser of the following formulas; either the prior year tax <br />levy dollar amount increased by a maximum of ___, or CPI (Consumer Price Index) plus ___. The CPI <br />shall be the 12 month average of the most recently published data for all Urban Consumers in the <br />Minneapolis, St. Paul metropolitan area, as defined by the U.S. Department of Labor, Bureau of Labor <br />Statistics. <br />Subdivision 2. The City Council may levy a tax against real and personal property in excess of <br />the limit set in Subdivision 1 provided the Council shall: <br />A)Adopt a resolution declaring the necessity for an additional tax levy and specifying the purposes <br />for which such additional tax levy is required. <br />B)Hold a public hearing upon at least 10 days posted and published notice in the City's official <br />newspaper, City newsletter, and, if available, the City web site, setting forth the contents of the <br />resolution described in Subdivision 2A. <br />C)After such public hearing, adopt by an affirmative vote of at least four (4) members of the <br />Council such resolution language which is readily understandable and a summary of such <br />resolution will be the ballot question for the electorate at the next regular municipal election or <br />special election, per this Charter's Section 4.04, as amended, prior to the final levy approval. <br />D)If the additional tax levy resolution is then approved by the voters under Chapter 4 of this <br />Charter then the levy shall be implemented in the following fiscal year or later date as specified <br />in the resolution. <br />1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />29 <br />30 <br />31 <br />32 <br />33