12-08-1997 Council Packet - Laserfiche WebLink

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MINUTES OF THE TRUTH IN TAXATION HEARING n HELD AT 7:30 P.M. ON WEDNESDAY, DECEMBER 3,19^ JSq IN THE ORONO COUNCIL CHAMBERS ^.1 Members present: Mayor Jabbour and Council Members Goetten, Peterson, Flint and Kelley. Staff present: City Administrator Ron Moorse, Finance Director Tom Kuehn, Assistant Finance Director Chris Miller, and Management Analyst/Accountant Ron Olson. The meeting was called to order at 7:30 p.m. by Mayor Jabbour. Mayor Jabbour indicated the purpose of the Truth In Taxation hearing was to provide an opportunity for Citizens to obtain information about the proposed 1998 Budget and Tax Levy. Moorse provided a brief summary of the budget and tax levy. He indicated the General Fund Budget, which has the greatest impact on the Tax Levy, is proposed at $3,638,095 for 1998. This is an increase of 5.53% over the 1997 budget. The total tax levy required to fund the overall 1998 city budget is $2,225,130. This is an increase of $63,500 or 2.94% over the 1997 levy. Moorse also indicated the proposed tax levy would result in a reduction in the city's share of the property tax bill for homes in Orono, assuming no change in home valuations. Moorse concluded by indicating the budget is fiscally conservative in that it minimizes the tax levy increase while addressing priority program needs, and both short term and long term infrastructure needs. Mayor Jabbour asked if there were any questions or comments regarding the budget jfrom the public. Mr. Amoldy indicated he had a question regarding the valuation of iiis property. Mayor Jabbour indicated questions regarding property valuation could best be addressed by the City Assessor, and suggested Mr. Amoldy contact the City Assessor. There being no further comments. Mayor Jabbour closed the hearing and announced that the subsequent levy adoption hearing would be held at 7:00 p.m. on Monday, December 8, 1997. ATTEST:Gabriel Jabbour, Mayor Dorothy M. Hallin, City Clerk 1 ( A ilBIIMIllfc