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2020 Proposed Tax Levy <br />Page 4 <br />Maximum Tax Levy <br />The preliminary tax levy adopted by the Council on September 16th can be decreased (but not increased) <br />following the budget and tax levy public hearing in December. Thus, the preliminary levy needs to be set <br />at the maximum amount that the Council determines is appropriate. <br />Conclusion <br />The tax levy (as proposed herein) provides for a balanced operating budget while meeting the Council's <br />objectives to begin revenue streams for improvements to the public works facilities and Lions Park. The tax <br />levy provides funds to maintain a flat tax rate should the total taxable value of properties in the city <br />decrease due to a downturn in the local economy. The city can continue neighborhood street <br />reconstruction projects while buying down our existing debt. <br />Attachment <br />Resolution Approving Preliminary Tax Levy Payable in 2020 <br />