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Planning Commission Regular Meeting Minutes January 16, 1996 Page 3 •1 The Commission decided that a representative will not be designated for the January 23, 1996 City 2 Council Meeting, as there are no agenda items from the Commission scheduled for the meeting. 3 4 VII. PUBLIC HEARING. 5 It was noted that there was no public hearing. 6 7 VIII. ST. ANTHONY COMPREHENSIVE PLAN. 8 (Copy of overhead presentation made by Mr. Larson to be provided by Ms. Moore-Sykes) 9 Chair Bergstrom indicated the Commission has been meeting with each City department head for 10 a department overview and question and answer session. 11 12 Mr. Roger Larson, Finance Director, presented to the Planning Commission a review of tax base, 13 as well as an overview of Tax Increment Financing (TIF). 14 Mr. Larson reviewed that property taxes are determined by the state legislature, taxing 15 jurisdictions and the county assessor. He continued that the state establish's property classes and 16 class rates, determine levels of state aid, and unfunded mandates to local government. 07 Mr. Larson reviewed revenue percentages and advised that the composition of the City tax base 18 includes 73.9 percent residential, 12 percent apartments, 12.4 percent commercial, and 1.7 19 percent other sources. Commissioner Franzese inquired what is included in the "other" category. 20 Mr. Larson responded that vacant land, such as the Clark Station, or properties that are forfeited, 21 would be examples of this category. 22 Mr. Larson reviewed the 1996 total tax rate of 148.986 percent, comprising of 76.033 percent 23 from schools, 38.099 percent from County, 28.055 percent from City, and 6.799 percent from 24 other sources. Commissioner Franzese requested Mr. Larson explain tax rate. Mr. Larson 25 responded he will later in the presentation. 26 Mr. Larson reviewed the increase in tax rates from 1995 to 1996, including a 10.243 percent 27 increase in schools, .645 percent in County, 2.286 percent in City, and .180 percent in other. 28 Mr. Larson indicated that the school tax rate increased significantly. 29 Mr. Larson continued that proposed city tax rates are determined by the amount of money needed, 30 called a levy. He explained the total local levy is divided by the total local tax capacity, which 31 is $5,188,494, and then each property is assigned a tax capacity. Mr. Larson explained that each 32 resident's tax capacity is added together to get the total local tax capacity. 33 Mr. Larson indicated how critical planning is to the City, because any decrease in the $5,188,494 04 local tax capacity figure means an increase in the residential property taxes.