4. SR 12-11-1995 - Laserfiche WebLink

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1996 Budget Memo December 7, 1995 ---------------------------------- - - - - -- to CONCLUSION Page 4 At the 12/11/95 Truth in Taxation budget public hearing, city staff will be prepared to discuss the proposed 1996 budget and tax levy. This packet contains a lot of budget information and tax levy information for the City Council to review and consider. The City Council has seen most of this material in the past few months and should be familiar with the big issues that affect the budget and tax levy. According to the Truth in Taxation law, the City Council cannot adopt the tax levy or budget at this 12/11/95 meeting. The public hearing should be closed if all in attendance have had the opportunity to speak, after which the City Council must announce continued consideration and proposed adoption of the budget and tax levy until 7:00 p.m. on Monday, 12/18/95. This will provide the Council with an opportunity to evaluate the public input it receives on 12/11/95. However, if the public hearing is continued to allow all in attendance to speak, and the City Council receives and considers additional public input on 12/18/95, then adoption of the tax levy and budget cannot take place at that meeting. Adoption of the tax levy and budget • would then have to take place at a special meeting on Thursday, December 21, 1995. (In short, the Council can't adopt the budget and levy at the same meeting in which public input is received through a public hearing. After the public hearing is closed, the Council must announce when they will consider the budget and levy.) ATTACHMENTS 1. City of Elk River tax rate information - This information shows the City tax rate remaining stable over the past few years. 2. League of Minnesota Cities Tax Summary Information - This information shows an average tax rate for some of the communities in the state. 3. Property Tax Survey Newspaper Article - This 9/15/95 Star Tribune newspaper article discusses taxes on a house that sells for $100,000 in the metro and non -metro communities. This information shows Elk River in a very positive manner. 4. The Current - The October and December, 1995, city newsletter preliminary budget and tax levies information. 5. The budget document including the tax levy resolution for the calendar year 1996.