5.1. SR 12-13-2004 - Laserfiche WebLink

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Item 5.1. MEMORANDUM TO: Mayor and City Council FROM: Pat Klaers, City Adminis~t:I~ December 13, 2004 DATE: SUBJECT: Consider Resolution Setting the Final Tax Levy for Taxes Payable 2005 and Consider Motion Adopting 2005 Budget At this December 13, 2004 meeting, tbe City Council is requested to approve tbe proposed 2005 tax levy resolution, tbe proposed 2005 general fund budget, and tbe special revenue funds. The City Council reviewed tbe proposed 2005 budget at a number of City Council meetings in August and September. On September 13, 2004 tbe City Council approved a resolution tbat called for a 2005 proposed maximum levy of $7,623,985. This is a $1,059,182 or 16.13% increase over tbe adopted 2004 tax levy amount. This percentage increase is identical to tbe estimated increase in tbe city Net Tax Capacity (NTC) for 2005. On December 6, 2004 tbe City Council held its trutb-in-taxation public hearing. The county sent out notice of this public hearing to all property owners in tbe city. A notice was also published in tbe December 1, 2004, Elk River Star News. This public hearing is required by state law to receive public input on tbe proposed city tax levy and budget. The city is required to present some specific tax levy and budget information to tbe public at this public hearing. At this December 6, 2004 public hearing tbe proposed 2005 tax levy and municipal budget were reviewed. One property owner was in attendance at this public hearing. However, this property owner left inunediately following tbe Mayor's opening comments regarding tbe fact tbat individual property values would not be evaluated or discussed at this public hearing. Mayor Klinzing furtber noted tbat individual property values would be discussed at the Board of Review in the spring of 2005. s: \ Council\Pat\Budget\2005\ApproveBudget&FinalTa.\:Levy.doc