HomeMy WebLinkAboutCC TRUTH IN TAXATION MINUTES 12201995 Meeting Sheet
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Folder: CC MINUTES AND AGENDAS 1995
Document: CC MINUTES 12201995
1 CITY OF ST. ANTHONY
•2 CITY COUNCIL TRUTH IN TAXATION
3 ADOPTION MEETING MINUTES
4 DECEMBER 20, 1995
5 I. CALL TO ORDER.
6 The meeting was called to order at 7:00 P.M.
7 II. ROLL CALL.
8 Councilmembers Present: Ranallo, Enrooth, Fleming, Marks, and Wagner.
9 Also Present: City Manager Michael Mornson, Finance Director Roger Larson, and
10 Councilmember Elect Faust. -
11 III. PUBLIC HEARING SETTING 1996 TAX LEVY.
12 Mayor Ranallo opened the public hearing setting the 1996 tax levy at 7:03 P.M.
13
14 IV. APPROVAL OF DECEMBER 6, 1995 TRUTH IN TAXATION PUBLIC HEARING
15 MEETING MINUTES.
16 Motion by Enrooth, second by Wagner to approve the December 6, 1995 Truth in Taxation
7 Public Hearing meeting minutes as presented.
18 Motion carried unanimously.
19 V. DISCUSSION ON SETTING 1996 BUDGET AND TAX LEVY.
20 Mayor Ranallo explained this was a continuation of the December 6, 1995 Truth in Taxation
21 Meeting. The budget had been presented at that meeting. Mayor Ranallo indicated discussion
22 tonight would be only of taxes related to the budget.
23 Mr. Roy Peterson, 3112-36th Avenue, indicated he remembered being told that the building
24 program for the school would only increase his taxes by $100.00. He stated his taxes had
25 increased by $400.00. He felt if the school asked for support of another increase,they would
26 have a hard time getting senior citizens or people without children in school to support it.
27 Mayor Ranallo stated he understood but this was not the School District public hearing.
28 Discussion was limited to City taxes.
29 Mr. Peterson asked how much his City taxes had increased.
30 Councilmember Enrooth explained that depended on his valuation increase. He noted most
31 homes in St. Anthony had increased by $5,000.00 to $10,000.00.
02 Councilmember Wagner explained the $400.00 increase in his taxes accounted for total taxes,
33 including school, City and County.
. I.I
City Council Truth in Taxation Adoption Meeting Minutes
December 20, 1995
• Page 2
1 Mr. Obert Amundson, 3217 Wendhurst questioned why apartment owners taxes decreased and
2 homeowners taxes increased.
3 Finance Director Roger Larson explained that apartment valuation had decreased by 14.3%. The
4 City of St. Anthony is a community which is fully developed. 73% of the properties are
5 residential, 12% apartments and 12%commercial. If one area of the tax base in the community
6 decreases,the other portions will increase.
7 Mayor Ranallo reported the City had received a letter today indicating that Apache Plaza has
8 again been allowed a reduction in assessed valuation. The previous market value was
9 $6,830,000.00 with taxes of$441,502.84. The market value has been reduced to $6,000,000.00
10 which results in taxes of$387,577.18. He noted the State Legislature has changed the manner in
11 which apartment buildings are taxed and apartment buildings are decreasing in value.
12 Mayor Ranallo noted he had received a comparison of the assessed value and actual sale price of
13 three homes which had recently sold in St. Anthony. 3009-29th Avenue sold for$118,000.00
14 and the assessed market value was $108,000.00 or 91%. 2513-36th Avenue sold for$109,000.00
15 and the assessed market value was $87,400.00 or 80%. 3216 Rankin Road sold for$127,000.00
16 and the assessed market value was $117,000.00 or 85%. These assessed values are low
07 compared to State requirements which expect the assessed value to be between 93%-100%of the
8 sale price.
19 Councilmember Elect Faust noted low interest rates have a large effect on apartment values.
20 Low interest rates allow more people to qualify for loans and apartment owners are not able to
21 raise the rent. This results in apartment valuations decreasing.
22 An unidentified resident noted the market value of his home had increased$14,000.00 in the last
23 two years and only $6,000.00 in the previous four years.
24 Mayor Ranallo suggested contacting a real estate agent and having the house appraised. If the
25 resident did not feel he could sell his home for the assessed market value, he could contact the
26 assessor's office and ask them to re-assess the home. The next step would be to attend the Board
27 of Review meeting in the Spring.
28 Enrooth noted if the City of St. Anthony did not increase their budget at all and valuation of a
29 home increased by $5,000.00 to $7,000.00,the resident would still experience an increase in his
30 taxes due to the increase in valuation.
City Council Truth in Taxation Adoption Meeting Minutes
• December 20, 1995
Page 3
1 VI. RESOLUTION 95-070, RE: ADOPTION OF 1996 CERTIFICATION LEVY.
2 Motion by Marks, second by Wagner to adopt Resolution 95-070, regarding certifying the City
3 of St. Anthony 1996 tax levy and budget in compliance with the Truth in Taxation Act.
4 Motion carried unanimously.
5 VII. CLOSE PUBLIC HEARING.
6 Mayor Ranallo closed the public hearing setting the 1996 tax levy at 7:20 P.M.
7 VIII. ADJOURNMENT.
8 Motion by Marks, second by Wagner to adjourn the meeting at 7:21 P.M.
9 Motion carried unanimously.
10 Respectfully submitted,
11 Lorri.Kopischke
12 TimeSaver Off Site Secretarial
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16 City Clerk