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City Council Truth in Taxation Hearing Meeting Minutes <br /> December 4, 1996 <br /> Page 2 <br /> redevelopment efforts, the total local tax capacity has increased every year since 1994 to <br /> 2 $5,279,801 in 1997. Larson noted that at the same time building permits remained stagnant, with <br /> 3 a large increase in 1995 and increased to a record amount of permit values in 1996 with revenue <br /> 4 of$60,000. This is a solid indicator that the City is moving in the right direction and <br /> 5 demonstrates significant redevelopment activity in the City. <br /> 6 Finance Director Larson explained the total levy for 1997 will remain the same as 1996 at <br /> 7 $1,664,011. In 1997 there is a projected increase in the Fiscal Disparities Distribution from <br /> 8 Ramsey and Hennepin County. This results in the proposed City tax rate being reduced by <br /> 9 1.904% from 28.507% in 1996 to 26.603% in 1997. Hennepin County has reported that <br /> 10 approximately 85%of the residential tax payers in St. Anthony received no increase or received <br /> 11 a decrease in the City portion of their property taxes. 6-7%received a small increase and I% <br /> 12 received a significant increase. Ramsey County has reported that 83%of the residential tax <br /> 13 payers received no increase or a decrease in the City portion of their property taxes. 16% <br /> 14 received an increase of 1-5% and 1%received an increase of more than 5%. <br /> 15 V. SET CONTINUATION HEARING FOR WEDNESDAY,DECEMBER 18, 1996 AT 7:00 <br /> 16 P.M. <br /> 17 Motion by Marks, second by Enrooth to set the continuation Truth in Taxation Hearing for <br /> 18 Wednesday, December 18, 1996 at 7:00 P.M. at which time the 1997 budget and tax.levy for the <br /> 0 City will be adopted. <br /> 20 Motion carried unanimously. <br /> 21 VI. CLOSE PUBLIC HEARING. <br /> 22 Mayor Ranallo declared the public hearing closed at 7:15 P.M. <br /> 23 VII. OTHER BUSINESS. <br /> 24 Mayor Ranallo thanked Staff for attending the meeting this evening and noted the reduction in <br /> 25 the total tax rate is a result of all their hard work and efforts. He commended all of the Staff on a <br /> 26 job well done. <br /> 27 VIII. ADJOURNMENT. <br /> 28 Motion by Marks, second by Faust to adjourn the meeting at 7:18 P.M. <br /> 29 Motion carried unanimously. <br /> 30 Respectfully submitted, <br /> 31 Lorri Kopischke <br /> 32 TimeSaver Off Site Secretarial <br /> • <br /> 34 Mayor <br /> 35 ATTEST: <br /> 36 City Clerk <br />