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CITY TAX RATES, LEVIES AND COLLECTIONS not affect debt service levies. For county governments, cities of 2,500 population or more, and
<br /> smaller cities and towns that receive taconite municipal aid, taxes could be levied outside the
<br /> overall levy limitation for, among others, bonded indebtedness and certificates of indebtedness,
<br /> Tax Capacity Rates for a City Resident in Hennepin County unfunded accrued pension liability, social service programs and the residual income
<br /> 1992/93 maintenance program for which the county share of costs has not been taken over by the
<br /> For State.
<br /> 1988/89 1989/90 1990/91 1991/92 Total Debt Only
<br /> Hennepin County 27.101% 27.916% 30.114% 34.327% 35.839% 2.294% Debt Limitations
<br /> City of St. Anthony 15.218 16.852 21.296 19.972 23.479 1.059 All Minnesota municipalities (counties, cities, towns and school districts) are subject to
<br /> ISD 282 (St. Anthony) 59.728 33.188 58.686 53.664 61.122 -0- statutory "net debt" limitations under the provisions of Minnesota Statutes, Section 475.53. Net
<br /> Special Districts* 5.797 5.631 7.365 5.996 6.042 0.794 debt is defined as the amount remaining after deducting from gross debt the amount of current
<br /> revenues which are applicable within the current fiscal year to the payment of any debt and the
<br /> Total 107.844% 83.587% 117.461% 113.959% 126.482% 4.147% aggregation of the principal of the following:
<br /> * Includes Metropolitan Council, Regional Transit District, Mosquito Control District, Hennepin Parks, 1. Obligations issued for improvements which are payable
<br /> wholly or partially from the
<br /> Park Museum and County Regional Railroad Authority. proceeds of special assessments levied upon benefited property.
<br /> NOTE: For property taxes payable in 1989, taxes were determined by multiplying the gross tax capacity 2. Warrants or orders having no definite or fixed maturity.
<br /> by the tax capacity rate, expressed as a percentage. This replaced the use of assessed value 3. Obligations payable wholly from the income from revenue producing conveniences.
<br /> multiplied by mill rates. Beginning with taxes payable in 1990, net tax capacity has replaced
<br /> gross tax capacity as the basis on which taxes are levied (see Appendix ll). 4. Obligations issued to create or maintain a permanent improvement revolving fund.
<br /> _
<br /> 5. Obligations issued for the acquisition and betterment of public waterworks and public
<br /> r C' Tax Levies and Collections lighting, heating or power systems, and any combination thereof, or for any other public
<br /> City convenience from which revenue is or may be derived.
<br /> Collected During Collected
<br /> Amount Collection Year As of 12-1-92 6. Certain debt service loans and capital loans made to school districts.
<br /> Levy/Collect of Lew Amount Percent Amount Percent 7. Certain obligations to repay loans.
<br /> 1992/93 $1,694,638* (In Process of Collection) 8. Obligations specifically excluded under the provisions of law authorizing their issuance.
<br /> 1991/92 1,618,684 $1,575,006 97.3% $1,575,006 97.3% 9. Debt service funds for the payment of principal and interest on obligations other than
<br /> 1990/91 1,585,003 1,543,639 97.4 1,554,273 98.1 those described above.
<br /> -= 1989/90 1,497,267 1,476,915 98.6 1,490,421 99.5
<br /> 1988/89 1,251,225 1,229,744 98.3 1,250,246 99.9
<br /> Levies for General Obligation Debt
<br /> * The 1992193 gross tax levy includes $205,739 of Homestead and Agricultural Credit Aid ("HACA") (Sections 475.61 and 475.74, Minnesota Statutes)
<br /> The net levy of$1,488,899 after subtracting HACA is the basis for computing the 1992193 tax rates. Any municipality which issues general obligation debt must, at the time of
<br />issuance, certify
<br /> levies to the county auditor of the county(ies) within which the municipality is situated. Such
<br /> levies shall be in an amount that if collected in full will, together with estimates of other
<br /> revenues pledged for payment of the obligations, produce at least five percent in excess of the
<br /> FUNDS ON HAND amount needed to pay principal and interest when due.
<br /> As of April 30, 1993
<br /> Notwithstanding any other limitations upon the ability of a taxing unit to levy taxes, its ability to
<br /> levy taxes for a deficiency in prior levies for payment of general obligation indebtedness is
<br /> Fund Cash and Investments without limitation as to rate or amount.
<br /> P
<br /> General $ 266,677 Metropolitan Revenue Distribution (Chapter 473F, Minnesota Statutes)
<br /> Special Revenue 735,559 , "Fiscal Disparities Law"
<br /> HRA Fund 687,225
<br /> Capital Equipment (72,272) The Charles R. Weaver Metropolitan Revenue Distribution Act, more commonly known as
<br /> Debt Service 153,973 "Fiscal Disparities," was first implemented for taxes payable in 1975. Forty percent of the
<br /> Capital Projects 940,915 increase in commercial-industrial (including public utility and railroad) net tax capacity valuation
<br /> Community Center (16,556) since 1971 in each assessment district in the Minneapolis/St. Paul seven-county metropolitan
<br /> Enterprise 4,943,909 area (Anoka, Carver, Dakota, excluding the City of Northfield, Hennepin, Ramsey, Scott,
<br /> Investment (13,471) excluding the City of New Prague, and Washington Counties) is contributed to an area-wide tax
<br /> Retirement 165,759 base. A distribution index, based on the factors of population and real property market value
<br /> per capita, is employed in determining what proportion of the net tax capacity value in the area-
<br /> Total $7,791,718 wide tax base shall be distributed back to each assessment district.
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