HomeMy WebLinkAboutgr00090_000046_pg039February 21, 1978 Page 4
assessments would pay 52 percent of the project cost, with the balance
to be financed by an annual increase in the general property tax levy
of not more than 3.76 mills.
Mr. Swanson reported that the property assessed for storm sewers in
Project 1973 -4 were assessed at an average rate of 3.97 cents per
square foot, which is the same rate that will be used in Project 1978 -1.
Non - residential properties would be assessed double the residential
rate, or 7.97 cents per square foot. The assessments would be spread
over 20 years at 8 percent interest, with the first installments due in
1981.
Mr. Swanson presented assessments on three hypothetical residential
lots, to show what the residents could expect to be assessed. An
11,000 square foot lot would be assessed approximately $437.02, with
the first payment in 1981 to be $65.55, and the last payment in 2001
to be $23.60, with the average annual payment to be $44.58.
A 13,000 square foot lot would be assessed $516.48, with the first
payment in 1981 to be $77.47, the last payment in 2001 to be $27.89,
and the average annual payment to be $52.74.
A 20,000 square foot lot would be assessed $794.59, with the first pay-
ment to be $119.19, the last payment to be $42.91, and the average
annual payment to be $81.05.
Mr. Swanson reported that approximately 34 percent of the single family
homes in Mounds View have a limited market value of $20,000 or less,
36 percent with a $30,000 limited market value or less, and 27 percent
with a $30,000 to $40,000 limited market value, and only 3 percent above
the $40,000 level. The annual tax impact on a levy of 3.76 mills would
be $21.62 on the $20,000 home, $36.66 on the $30,000 home, $51.70 on
the $40,000 home, and $66.74 on the $50,000 home. A business property
with a market value of $50,000 would be taxed $80.84, a $100,000 business
would be taxed $161.64, and a $150,000 business would be assessed
$242.52.
Mayor Pickar stated that a decision on the project would be announced
by the Council at the March 27, 1978 meeting at City Hall. Mayor Pickar
then opened the floor for citizen questions on the project.
Mark Berube, 2118 Oakwood Drive stated that he had lived in Mounds View
for 24 years and had never had water problems and that he felt the pro-
blems being experienced now were due to building houses on swampy areas,
and asked where that water was to go.
Mayor Pickar replied that the intent of the project was to give that
water somewhere to go. Mr. Short added that the lower the grade of the
land, the more the City would be subject to flooding and stated that
according to the contour map, only one -third of the City should actually
have been built upon if they did not want to face the issue of drainage
problems.
Mr. Berube asked why 100 percent of the people were being asked to pay
for the project when only 10 percent of the people had water problems.