12-20-1993 CC MIN - Laserfiche WebLink

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Elk River city Council Meeting December 20, 1993 Page 11 --------------------- e The city Administrator presented the staff report on this item. On December 8, 1993, the City Council held a public hearing regarding the proposed 1994 tax levy as required by the Truth in Taxation Law. At that meeting, staff was directed to reduce the tax levy increase from 8.66% (urban rate) to 6%. This would mean a $43,500 tax revenue reduction. The City Administrator stated that three resolutions are being presented with a budget of $3,394,750; #1 with a levy of the original proposed 8.66%, #2 with a 6% tax rate increase and a decrease in taxes of $43,500; and, #3 with a 5% tax rate increase and a decrease in taxes of $60,000. Councilmember Farber questioned how the reduction in the levy from 8.66% to 6% would affect the average property owner. The City Administrator stated that a property owner of a $73,000 home would realize a $5.00 reduction in taxes in the urban district and $4.00 in the rural district. Also, that the owner of a $100,000 home would have a reduction of $8.00 in the urban district and $7.00 in the rural district. He further stated that a business with an assessed valuation of $100,000 would go down $19.00 in the urban district and $17.00 in the rural district. Mayor Duitsman opened the public hearing. There being no comments from the public, Mayor Duitsman closed the public hearing. e COUNCILMEMBER DIETZ MOVED TO APPROVE OPTION NUMBER 2 LISTED ABOVE AND TO ADOPT RESOLUTION 93-83, A RESOLUTION AUTHORIZING THE FINAL TAX LEVY FOR CALENDAR YEAR 1994. COUNCILMEt-iBER HOLMGREN SECON:)ED THE MOTION. THE MOTION CARRIED 4-1. Councilmember Farber opposed. Councilmember Holmgren left at this time (9:00 p.m.). 9.3. Consideration of 1993 Budget Amendments Finance Director Lori Johnson reviewed the 1993 budget amendment detail. COUNCILMEMBER SCHEEL MOVED TO PROPOSED IN DETAIL PRESENTED MAYOR AND CITY COUNCIL DATED ADJUSTMENTS: APPROVE THE 1993 BUDGET AMENDMENTS AS BY THE FINANCE DIRECTOR IN HER MEMO TO THE DECEMBER 16, 1993, WITH THE FOLLOWING 1. SQUAD CAR VIDEO CAMERAS - COST FOR ONE CAMERA ($5,000) TO BE PAID FROM SELF INSURANCE FUNDS, COST FOR SECOND CAMERA ($5,000) FROM THE 1993 BUDGET, THIRD CAMERA ($5,000) DELETED. 2. COST FOR STOLEN REPEATER ($1,000) TO COME FROM SELF INSURANCE TRUST FUND. COUNCILMEMBER FARBER SECONDED THE MOTION. THE MOTION CARRIED 4-0. e 10. Check Register COUNCILMEMBER DIETZ MOVED TO APPROVE THE CHECK REGISTER. FARBER SECONDED THE MOTION. THE MOTION CARRIED 4-0. COUNCILMEMBER