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Infrastructure Levy by the same sum. The results in a combined flat levy impact for the street <br />improvement program for a fifth consecutive year. <br /> <br />The 2024 Capital Improvement Program (CIP) levy is proposed to increase by $30,000. The <br />2024 Building Improvement, Infrastructure and Park Improvement lives are each proposed at a <br />$5,000 increase. These levy increases are consistent with the city’s long-term capital <br />improvement plans. <br /> <br /> <br />For 2024, the median taxable valuation for a single-family home in Saint Anthony is $411,250, <br />an increase of 3.85% over 2023. Based on the median valuation of $411,250, the “City Portion” <br />of 2024 property taxes is $2,560.18. A breakdown of the taxes is as follows: <br /> <br /> General Fund Budget $1,692.69 <br /> Road Debt & Improvements 659.52 <br /> Capital Improvements 158.54 <br /> Tax Abatement 49.43 <br /> Total $2,560.18 <br /> <br />In 2023 the median taxable valuation for a single-family home in Saint Anthony was $396,000 <br />with City taxes of $2,430.96 Therefore, the increase in “City taxes” for a median value home <br />will be $129.22 in 2024 or 5.32% increase. <br /> <br />The overall taxes on a median value single-family home will be $6,283.02 in 2024 compared to <br />$6,144.32 in 2023. The 2024 overall increase of $138.70 reflects increases in County, City and <br />School taxes. <br /> <br />At tonight’s Council meeting a resolution is needed to be passed adopting the 2024 budgets and <br />certifying the final tax levy to Hennepin and Ramsey Counties. <br /> <br />Recommendation <br /> <br />Staff recommends that Council approves resolution 23-xxx; Adopting the 2024 General Fund <br />operating budget of $9,398,687 (based on 2024 General Fund expenditures) and certifying the <br />final Property Tax Levy of $9,191,133 to Hennepin and Ramsey Counties <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />54