10-09-2000 Council Packet - Laserfiche WebLink

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t-A RESOLUTION AUTHORIZING A TAX RATE FOR THE 2000 TAX LEVY COLLECTIBLE IN 2001 THAT IS GREATER THAN THE "LEVY CERTIFICATION TAX'RATE" FOR THE 1999 TAX LEVY COLLECTIBLE IN 2000 WHEREAS, new State legislation has created a new tax rate term called the "Levy Certification Tax Rate" that is substantially different from the standard tax rate. The Levy Certification Tax Rate is calculated using the current year's tax capacity and the prior year's tax levy. This tax rate is then compared to a tax rate calculated using the current year's tax capacity and the upcoming year's tax levy. The purpose of the Levy Certification Tax Rate is to show the impact of the tax levy on the tax rate independent of any increase in tax capacity; and WHEREAS, the new State legislation requires that if a City's tax rate for the year 2001 tax levy is greater than the Levy Certification Tax Rate for the year 2000 tax levy, the City must adopt a resolution authorizing an increase in the tax rate for the tax levy collectible in 2001. NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Orono, County of Hennepin, Minnesota, that the County Auditor is authorized to fix a property tax rate for taxes payable in the year 2001 that is higher than the "Levy Certification Tax Rate" calculated pursuant to Minnesota Statutes 275.078 for the City for taxes levied in 1999, collectible in 2000. Adoption of this resolution does not prohibit the City’ from certifying a final levy that will result in no tax rate increase or a tax rate decrease. The City Clerk is hereby instructed to transmit a certified copy of this resolution to the County Auditor of Hennepin County, Minnesota. Adopted by the City Council of the City of Orono, Minnesota at a regular meeting held October 9,2000. ATIEST:Gabriel Jabbour, Mayor Linda S. Vee, City Clerk X\ArrSVWFWIN6AWPOOCS'JJ!«Bi;DCrnTiii Km r«t Page 1 of 1