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MINUTKS OF THE 1994 BUDGET HEARLNG <br />CITY OF ORONO <br />HELD DECEMBER 1. 1993 <br />but a law that limited the amount the actual real estate taxes paid could increase in one year to <br />10%. This could be 12% now. If the taxes to be paid were over a 10% increase, tltere was a <br />tax form available to apply for a refund. <br />John Hcdberg, 4740 NonJi Ann Drive West, commented that the market value on his home went <br />up 6.3%, yet the Orono taxes went up 12.3% based on a relatively small increase in the budget <br />and asked if there was an explanation. Mayor Callahan thought it may be related to the <br />classification changes made by the State legislature. Jabbour added that originally homes valued <br />at $0 - $72,(XX) were taxed at a rate of 1 %. from $72.OCX) - $115.000 at 2% and over $115,000 <br />at 3%. Since the third tier was eliminated, basically homes over S72.(XX) are taxed at 2%. This <br />actually causes a double increase to those homes in the middle range. They are asked to pay <br />more from the Citv and thev are absorbine the cost from I..e third tier. <br />Doug Hickey requested copies of the overheads presented at the meeting. Mayor Callahan <br />encouraged anyone with further questions to contact the City Administrator. <br />llurr asked about the income vs. the budget at the golf course. City Administrator Moorse <br />confirmed that in recent years, revenues have exceeded expenditures. <br />riie public hearing closed at 7:55 p.m. <br />(/K5) COUNCIL ACTION <br />Mayor Callahan aimounced that the 1994 budget ai>d levy will be adopted at a meeting to be held <br />on Monday, Decemlv^r 13, 1993 at 7:15 p.m. <br />ADJOURNMENT <br />The meeting was adjourned by Mayor Callahan at 7:55 p.m. <br />AlTIsr: <br />Edward J. Callahan. Jr., Mayor