Laserfiche WebLink
Risk Management <br />Maintaining a safety environment, which will enable the City to have limited exposure to <br />lawsuits while maintaining low insurance costs. <br />Special Assessment <br />A levy made against certain properties to defray all or part of the cost of a specific capital <br />improvement that benefits primarily those properties. <br />Special Revenue Fund <br />A fund used to account for the revenues from specific sources. They are usually <br />required by statute, ordinance, or administrative action to finance particular activities of <br />government. The City of St. Anthony special revenue funds are: Recreation, <br />Telecommunications, Wireless, Community Development, License Center, and <br />Charitable Gambling. <br />Street Overlay <br />Resurfacing a street by grinding off the top layer and laying down new asphalt. <br />Streetscapes <br />Beautification of streets through landscaping, raised medians, or street lighting. <br />Tax Capacity Rate (TCR) <br />The rate that is applied against the tax capacity of a property to arrive at its tax billing. <br />Tax Increments <br />Annual property tax payments that come from new taxable property value which is <br />created by specific economic development efforts. <br />Tax Increment Bonds (debt) <br />General obligation bonds issued by the City of St. Anthony to finance the economic and <br />recreational projects. <br />Tax Increment Districts <br />A geographic area defined by the local government in accordance with state statutes. <br />The area will be subject to redevelopment as a tax increment project. <br />Tax Increment Financing (TIF) <br />A method of financing by which improvements made in a designed area are paid by the <br />taxes generated from the added taxable value of the improvements. <br />Tax Increment Pooling <br />The combining of dollars and several tax increment districts that may be leveraged for <br />the benefit of all such districts. <br />Tax Levy <br />The total amount to be raised by general property taxes for the purpose stated in the <br />resolution certified to the county auditor. <br />Truth -in -Taxation <br />A term applied to state -mandated public hearings held by each local tax levying body. <br />133 <br />