4. SR 12-11-1995 - Laserfiche WebLink

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The Current Printed o0 n recycled paper she City of Elk River Newsletter Vol. 6, No. 5 — October 1995 Council holds the line on taxes On September 5 the City Council approved the maximum 1996 City Tax Levy and General Fund Budget. The levy as approved will not increase the city' s tax rate. This means that if you live in the urban district and your property value, as determined by the county assessor, did not increase, your 1996 city property tax will be the same as it was in 1995. Keep in mind that if your property value increased for taxes payable in 1996, your tax will increase due to the increase in value. Also, ifyou live in the rural district, you will experience a slight increase in your tax rate because the urban and rural districts will be combined for taxes payable 1996. The city, Sherburne County, School District 728, and the city's Economic Development and Housing and Redevelop- ment authorities all receive a portion of your property tax. As the chart below indicates, in 1995 the city will receive ap- proximately 22.23 percent and the city's EDA and BRA will receive another 1.29 percent of the property taxes paid by city property owners. • 1995 PROPERTY TAX ALLOCATION City 22% School District 56% County EDA/HRA 21% 1% Most of the city's tax revenue is used to pay for general fund activities. The balance is used to fund the Library building and maintenance, to pay for bonds issued to finance the purchase of capital equipment for public safety and public works departments, to fund storm water improvements and other public improvements. General fund activities include general government (elec- tions, administration, finance, mayor & council, planning, legal, etc.), public safety (police, fire, police reserves, emer- gency preparedness, building inspections and code enforce- ment), public works (streets, snow removal, engineering, fld eet lighting, program and equipment repair) and culture recreation (parks, recreation, shade tree program and senior citizen programs). As you can see from the chartbelow, public safety accounts for the majority of the general fund expenditures. 1996 PROPOSED GENERAL FUND EXPENDITURES Public Works General 15% Government 27% Culture & Public Safety Recreation 49% 9% Although the city continually tries to find innovative ways to increase revenues with out increasing taxes, property tax revenue is still the major source of general fund revenue. Intergovernmental Revenues (state and federal aids) have continued to decrease and now account for less than a quarter of the general fund revenues. 1996 PROJECTED GENERAL FUND REVENUES Intergovt. Fines & Forfeits Revenues 2% 23% Transfers 5% Property Taxes 51% Licenses & in;D Permits Charges for Other 6% Services Revenues 10% 3% Public hearings on the proposed 1996 Tax Levy and General Fund Budget will be held in December. The first hearing is scheduled for December 11, 1995, at 7 p.m., at City Hall. The public is invited to attend. This is your opportunity to share your comments on the tax levy and budget with the Mayor and City Council. Following input from the public, the final 1996 Tax Levy and General Fund Budget will be adopted at a subsequent meeting.