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• <br /> MEMORANDUM <br /> DATE: November 26, 1996 <br /> TO: Mike Mornson, City Manager <br /> FROM: Roger Larson, Finance Director <br /> ITEM: DECEMBER 4TH/TRUTH IN TAXATION <br /> Attached is a copy of the financial information I will be discussing at the December 4th, Truth <br /> in Taxation Hearing. There have been no changes in the tax rate which was presented at the <br /> October work session. <br /> Most St. Anthony taxpayers will see a decrease in their "City Portion" as well as their overall <br /> total taxes paid. Our goal of a zero tax increase has been accomplished. Three factors that <br /> contributed significantly were: <br /> • 1) A zero increase in the levy ($1,664,011 in 1995 & 1996) <br /> 2) Distribution from the Fiscal Disparities pool increased ($64,114) <br /> 3) St. Anthony total tax capacity/valuation increased ($125,768) <br /> The presentation covers: <br /> 1) City revenues. <br /> 2) Review the tax base. <br /> 3) Review the tax rate. <br /> 4) Explain the reduction in the tax rate. <br /> 5) Average home in Hennepin County. <br /> 6) Average home in Ramsey County. <br /> 7) Example of property's with valuation increase. <br /> 8) Review the total local tax capacity. <br /> To date, we have not had any calls or questions about'the Truth in Taxation Statements. <br /> Therefore, I am anticipating a low turnout for the meeting. Those who do attend will most <br /> likely be there to express their concerns because of a significant valuation increase. <br />