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ORONO BUDGET PUBLIC HEARING MEETING HELD DECEMBER 3, 1990 <br />early and that the City shouli not have to pay oft the bonds, <br />asked how much is due and what interest rate applies. <br />He <br />Bernhardson indicated that they were at a goad rate and <br />replied, "The special assessment would pay for that." <br />Mr. Feik did not believe that ta.xes would be reduced once <br />the bonds are paid and reimbursed from special assessment. He <br />recommended that the bonds be paid in the time period designated <br />for pay off. He said, "That would reduce the increase to 4.5^=. <br />I see no reason why the majority of the tax increase should be <br />for the purpose of pre-paying bonds." <br />Mr. Bob Hunt, 2691 Casco Point Road, said, "I saw a public <br />works truck with a flat blade out the day before yesterday. <br />There was no snow. How much fuel did he waste.’ I have been <br />retired for five years. I am trying to move and have had my <br />house on the market for two years. I have even dropped the <br />price. If my house is not worth what people are willing to pay <br />for it, then my taxes are equally the same. They are not worth <br />what I pay. I pay nearly $4,000 a year. I think that the <br />municipalities shou d have attended the meeting for Hennepin <br />County, not only the residents." <br />Mr. Jerry Kemp, 2300 Farview Lane, stated that he had <br />attended the Hennepin County meeting. He said, "Many people <br />complained about the rate in which taxes are increasing compared <br />to individual income. I agree with Mr. Farnham's comments. <br />However, it think the City should go ahp^.d and pass its proposed <br />13.1% increase. I believe that at some point people v/ill become <br />fed up, just as it was in California before Proposition 13 was <br />adopted." <br />Mr. Kim Allen, 2118 Shadywood Road, said, "The statement <br />that property value equals ability to pay makes me nervous. What <br />kind of provisions are made for long-term residents who are <br />senior citizens with a limited income and are now subject to a <br />social security tax and their medicare is taxed. Their property <br />values have increased, but their income has not." <br />Acting Mayor Callahan stated that there are some provisions <br />for senior citizens. He said, "There l.s no connection between <br />property values and income, though property values may increase <br />at a comparable rate with wages. However, for persons on a fixed <br />income this is a problem. The Legislature has put limits on how <br />much taxes can be increased and has considered a method to <br />provide minimal assistance. However, there is really no ma3or <br />consideration or provision in this respect. The Legislature’s <br />view of taxation in this State has not only been guided by the <br />principle of property value reflecting the ability to pay, but <br />also by a promise that property taxes will be lowered in exchange <br />for higher income taxes. However, the Legislature then figures <br />- 5 -