12-01-1993 Council Minutes2 - Laserfiche WebLink

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MINUTES OF I HE 1994 BUDGET HEARING Cn Y OF ORONO HELD DECEMBER 1, 1993 assumed a portion of the cost of sewer project and that the amount that can be assessed against an individual homeowner is related to the increased value of the land as a result of the sewer installation. This sewer bond is just beginning to be paid off. The 1989 sewer bond was for sewers planned for the area from Sixth Avenue Nonh to Highway 12. At tlie ’.ime the sewer was projected, it was believed there would be considerable development, llie Highway 12 project, the new City facility and lands being taken over by the school district have changed the projected residential development for this area. As a result, the City has to bear the cost of these bond payments until development increases. (#4) PUBLIC CO.M.MFMS Ward Edwards, 2474 Carman Street, asked if the value of his home changes yearly. Mayor Callahan responded that the .Assessor physically visits approximately 1/4 ot the homes in the City each year. Those homes that are not acnially visited are still subject to recalculation of their values based on various assessing technii^ues. .Mayor Callahan suggested .Mr. Edwards attend the property tax hearings in April. He also indicated the tax information was re.adily available if Mr. Edwards contacted City statf with tunher questions. Hurt added that if there were building improvements, the value may change as the Assessor gets a copy of the building permits. Doug Hickey, 4301 Wayzata Boulevard, commented that the assessed value ot his home has averaged a 12% increase each year over the past six years. Jabbour explained tliat the budget is determined by the City and then the amount of money needed is distributed among all the homes. Mayor Callalian continued that the budget is sent to the Ci^untv for calculation as to how the taxes are spread. Homes are classified differently so each statement is different. Tlie tax statement reflects the amount of money each entity receives from the taxes paid. Kdlev Mplained ihal the .St.ttc legislature changeil the lax rate pereentage of th^alue of homes anO how the money is ail.KaieJ At on; time there was a and 2% rate The 3% rate has been eliminated on the larger, m .re afllueni homes TTus resulted m the lower value homes paying a bigger percentage Homes ov.-r $i:8.000 are now mxed at a rate of 2%. Carl Johnson. 3105 North Shore Drive, suied that when he received his first home 'aluatiom it was 30» over the previous year. This was readjusted by the Assessor to 19%. Wten received his statement, the increase was 10% He ashed if there was a state law «1 “' increase of market value to 10% per year Mayor Callahan responded thete was not such a law