7.0. SR 12-02-1996 - Laserfiche WebLink

Home Browse Search

Budget Memo December 2, 1996 Page 2 State law requires a Truth in Taxation public hearing on the city budget and tax levy. It seems that what people really want to talk about at this public hearing is their concerns over tax increases. Home and business owners generally see the larger tax increases in the years when their property values go up. Last year the city tax rate was basically unchanged and this year the tax rate is going up 3 percent, so the Council should feel comfortable that they are doing their part to keep taxes at a reasonable level. As we have previously discussed, the city tax rate is very favorable when compared to neighboring and similar communities. The budget was just balanced on Monday evening, and this Thanksgiving work week is short due to the office being closed Thursday and Friday for the holiday. Accordingly, there is no budget narrative included in the packet and only the budget figures are offered for your review. At this public hearing, city staff will be prepared to discuss the proposed 1997 budget and tax levy in as much detail as desired by the Council. According to the Truth in Taxation law the City Council cannot adopt the tax levy or budget at this December 2, 1996, meeting. The tax levy and budget cannot be adopted at a meeting where a public hearing is held and input is received on the budget and tax levy. If the 12/2/96 public hearing is closed, the City Council must announce that the budget and tax levy issues will be continued for consideration and possible adoption at 7 p.m. on Monday, December 16, 1996. This will provide the Council with an opportunity to evaluate the public input it receives on December 2, 1996. However, if the public hearing is continued, the continuation date will be December 16, 1996. Consideration and adoption of the tax levy and budget would then have to be announced to take place at a special meeting. council\budmm 122.doc