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<br /> <br />Item 7. <br /> <br />MEMORANDUM <br /> <br />TO: <br /> <br />Mayor and City Council <br /> <br />DATE: <br /> <br />Pat Klaers, City Admi~tr~>>r <br />r J {yfe<.(l/vY <br />December 6, 2004 .- <br /> <br />FROM: <br /> <br />SUBJECT: <br /> <br />Truth in Taxation Public Hearing <br /> <br />Introduction <br />The City of Elk River tax levy and budget public hearing is scheduled for 6:30 p.m. Monday, <br />December 6, 2004 at Elk River City HalL This public hearing is required by tbe trutb in taxation <br />state law. The purpose of this public hearing is to receive citizen and property owner input on tbe <br />proposed 2005 city budget and tax levy. <br /> <br />The public hearing notice was published in tbe December 1, 2004 Elk River Star News. An article on <br />the proposed budget was in the November 3, 2004 Star News. Budget and tax levy information, <br />along with the public hearing date/location, was also in tbe November city newsletter (The Cumnf). <br />This information is also on tbe city website. Finally, tbe city cable TV bulletin board includes a <br />notice of this December 6, 2004 trutb in taxation public hearing. <br /> <br />In compliance witb tbe trutb in taxation state law, tbe county has sent out notice of this public <br />hearing to each property owner in the city. The notice included information on tbe property owner's <br />proposed city, school district, and county taxes for 2005. <br /> <br />Backiround <br />The City Council is familiar witb tbe 2005 budget and tax levy issues as over tbe past few montbs it <br />has held a series of worksessions on tbese financial matters. Accordingly, the staff presentation at <br />tbe public hearing is mainly for the citizens/property owners who are attending tbe meeting and for <br />tbe public watching on cable TV. These individuals have not been present duting tbe budget <br />worksessions and therefore, are not familiar with all the revenues, programs, services, functions, etc. <br />of tbe city. <br /> <br />The State Legislature has dominated the city budget process for a number of years. <br />For example, in 2003 and 2004 tbe state cut funding in the Local Government Aid (LGA) program. <br />In Elk River this resulted in a $644,150 reduction each year. However, in response to concerns over <br />cuts in municipal services, the legislature allowed municipalities to recapture a percent of tbe LGA <br />cuts tbrough property tax increases in 2004. On tbe otber hand, tbe State Legislature ~lso imposed <br />