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,�-te,m 5- <br />MEMO TO: Mayor & Council n <br />FRO14: Donald Brager, Director of Finance <br />DATE: January 28, 1987 <br />RE: Payable 1987 Property Tax Mill Rates <br />I am pleased to inform you that the City's payable 1987 <br />nrnnerty tax mill rate of 13.691 mi -s ss mi s <br />that the payable 1987 property tax levy would be the same <br />mill rate as payable 1986 property taxes, 13.876. That mill <br />rate was calculated on the basis of estimated assessed <br />valuations of properties within the City of $69,573,776 <br />supplied by the Ramsey County Department of Property Taxation. <br />The Department has subsequently finalized our assessed <br />valuations at $70,640,263 and has calculated the City's <br />mill rate for taxes payable in 1987 to be 13.691 mills. <br />The overall mill rate for payable 1987 property taxes for <br />Mounds View residents is 110.445 mills. That is an increase <br />of 10.366 mills over the payable 1986 rate of 100.079 mills. <br />As may be noted from the chart presented*,belowj,the City 'of <br />Mounds View is the only taxing jurisdiction that has a <br />decrease in it's mill rate in 1907. The School District and <br />miscellaneous levies are the main cause of this increase. <br />Ransey County's levy increased by a small amount. <br />MILL BATES -PAYABLE 1987 FOR CITY OF MOUNDS VIEW RESIDENTS <br />Taxing Jurisdiction 1986 1987 Difference <br />City <br />13.876 <br />13.691 <br />- 0.185 <br />County <br />31.867 <br />32.225 <br />+ 0.358 <br />School District <br />48.229 <br />56.850 <br />+ 8.621 <br />Miscellaneous <br />6.107 <br />7.679 <br />+ 1.572 <br />TOTAL <br />Miscellaneous jurisdictions: <br />100.079 110.445 +10.366 <br />Metropolitan Council <br />0.559 <br />0.565 <br />+ <br />0.006 <br />Regional Transit Commission <br />2.792 <br />3.416 <br />+ <br />0.624 <br />Mosquito Control <br />0.425 <br />0.487 <br />+ <br />0.062 <br />County Library <br />2.034 <br />2.216 <br />+ <br />0.182 <br />North Suburban Hospital District <br />0.109 <br />0.638 <br />+ <br />0.529 <br />Rice Creek Watershed District <br />0.188 <br />0.357 <br />+ <br />0.169 <br />TOTAL MISCELLANEOUS <br />6.107 <br />7.679 <br />+ <br />1.572 <br />