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MAYOR AND CITY COUNCIL <br />PAGE TWO DUNE 29, 1988 <br />capacity of all the taxable properties in the <br />The total tax on a parcel of property before a <br />or net tax cap multiplying each <br />jurisdiction• credits is determined p rcel's gross or net tax <br />reduction for any rage by the <br />jurisdiction's tax capacity <br />illustrates the basics of these <br />capacity- Exhibit C <br />computations. <br />Levy Lim cities with a limit <br />All counties, home rule charter and re eottta°the overall levy <br />population of 2,500 opayablere ain 1989• <br />beginning with taxes payable sum of a local unit's <br />The "beginning levy limit" is equal to the a debt <br />payable 1988 levy and its certified Local Government <br />minus <br />the following p, ro rams, (c) income maintenance <br />special levie's claimed for payable 198 pension <br />service, (b) social services p g special pension <br />programs, and (d) unfunded accrued liability of public <br />funds. For payable 1988 Mounds View received a <br />levy adjustment from the COmmisThiss9135,000 isioner of vnow <br />considered <br />easedt <br />appeal filed by the City. <br />The beginning levy <br />of our levy limit base. O ula- <br />qg in 1989 and percentage increase inapnP <br />for eased by the greater of the percentage <br />the local unit's <br />increased by These computations p limitation is <br />tion or households. The local unit s levy usted <br />"adjusted levy limit base"• certified aids from the adj <br />then determined by subtracting <br />levy limit base. <br />Special levies authorized by law are as follows: <br />a, County levies for social services and income <br />maintenance programs. <br />b, principle and interest on bonded indebtedness. <br />c. Principle and interest on certificates of <br />indebtedness. <br />d, principle and interest on state issued armory <br />construction bonds• a ments made to <br />e. Bonded indebtedness portion of payments <br />Y <br />another political subdivision of the state. <br />f• Unfunded accrued liability of public pension funds, <br />Levies to correct a county auditor's error of omission <br />9• <br />ito the county auditor. <br />n the levy certified <br />es to correct a clerk's error <br />auditorg <br />h. Leviomission in <br />the levy certified to the county <br />