2000.10.16 RESO 2000-0040 - Laserfiche WebLink

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31� RESOLUTION 2000 - 40 RESOLUTION RELATING TO TAX RATE AUTHORIZATION FOR THE YEAR 2001 WHEREAS, the State of Minnesota has enacted Chapter 243, Laws of Minnesota 1999, Article 6, Section 2, requiring a city council to adopt and file an authorizing resolution if it's tax rate increases over a theoretical tax rate contained in the law; and WHEREAS, the City of Hugo prides itself on beginning its budget process as early as possible in the calendar year in order to maximize input by all concerned parties and allow full review of all expenditure items; and WHEREAS, there are numerous factors that are beyond the control of city councils that can potentially cause tax rates to rise, including but not limited to: A. Class rate changes by the state on various types of property, B. The economy and its effect on the tax base, including real estate and new construction growth, or lack thereof, C. Limitations on what percentage the market value of property can rise each year as set by the state, D. Unfunded mandates upon local governments and reductions of federal and state aid; and WHEREAS, because of these outside factors beyond control, a city may need to have a higher tax rate for the following year, and if the tax rate has to increase, the City of Hugo wishes to be in compliance with the law; and WHEREAS, regardless of external factors influencing the tax rate through the years, the City of Hugo has a strong tradition and a record of success in holding down property taxes on the citizens of the city; and WHEREAS, the City of Hugo's property tax levy has been set each year within the levy limitation imposed by the State of Minnesota; and WHEREAS, a notice of public hearing was published in the White Bear Press on October 11, 2000, and the public hearing was held on October 16, 2000: