11-13-1989 - Agenda Packet City Council - regular meeting

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owner should not see a rise because of the shift because the monies are transferred as aid to the school districts and their local effort 'mill rate" (i.e. tax capacity rate) is reduced from 29.1% to 26.4%. (See Attachment B.) Since the City loses all of its State Aids and NACA, there is no longer a penalty for exceeding its levy limit. As exceeding the limits however would still be illegal it is an option but not a recommended one. Issue 94 - Minnesota's Property Tax SUst�em - Attachment C is a g rapl-i is repcesanta�.o o M nnesota s rather complicated property tax system. It illustrates the pre session and post session changes. This will be "explained" during the budget eview process. Issue #5 - reliminary Resolution Adoption - The special session T—eTsf—ature requlced a opt on of a new evy resolution as the figures changed. This is the n:+mber to be published in the ad required to be in the paper as a result of the Truth in Taxation. The resolution is required to be transmitted to the County by 11/15. While the total dollars to the City increases by 18.5%, the shift causes the levy to increase by 10.3%. This is about a 1.8% overall increase to the taxpayer, 1.01 which will be offset by monies to reduce the School district levy. The City retains the option to reduce from the maximum that is established or amend where the money is spent. Issue t6 - Scheduling Public Nearing - As part of the Truth in Taxation, the C ty s requrreed to establish both a public bearing date and a reconvening date that does not coincide with other overlapping taxing jurisdictions such as the Cuunty and various school districts. Given that the regular Council meeting nights of 11/27 and 12/11 are already taken by school districts, other nights must be scheduled. (Tt: County gave the County and school districts first choice. O:,ce they were established, then the County sent Attachment F to let cities establish theirs. Suggested dates include: November 30, 1989, 7:00 p.m. Cscember 12, 1989, 7:00 p.m. Reconvene if necessary (The reconveining date is required to be established even if not used.) The hearings together with final resolution adoption must he completed and transmitted to the County ty 12/28/89.) ALTERNATIVES 1. Accept the information. 2. Make an} comments applicable. 3. Table discussion until facilities and/or further budget meetings. 4. Adopt the resolution as presented.