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P <br />ORONO TRUTH I <br />Monday, <br />6:30 <br />White stated the City has put aside monies in a <br />offset some of those anticipated improvement c <br />McMillan commented that the amount reflected u <br />is routinely done on the streets and not major imp <br />grant for the recycling, which helps to offset thos <br />Traff asked if the current provider has raised <br />Olson stated Waste Management has a three -year <br />contract. <br />Traff asked if it would be eight percent a year. <br />'ES OF THE <br />TAXATION M EETING <br />ecember 1, 2008 <br />'clock p.m. <br />fund every year for the past few years to help <br />der street improvement is the annual maintenance that <br />wements. McMillan noted the City does receive a <br />costs. <br />pnces. <br />and that there is a built -in price increase in that <br />Olson stated it would not be eight percent. O1son1noted the organics program is included in the <br />expenditures even though the City receives a grant for the program. <br />Traff asked whether the City Council has <br />Olson stated the Council will not be receiving an <br />memberships that are included under the categor <br />• Conservation District, which increased their budl <br />addition, there was a shortfall from 2008, which <br />Murphy commented he would prefer to have a sef <br />items, such as personal services, should perhaps h <br />Olson reviewed some sample calculations done of <br />capacity is determined. <br />White noted state law requires assessors to value 1 <br />rates are set by state statute. <br />Olson displayed the calculations for a $500,000 hi <br />no increase in value, the property owner's city tax <br />Bremer noted that even though there was an 8.5 pi <br />home, the city's tax rate actually decreased for tha <br />Carlson asked why there would be a reduction. <br />Olson stated the city's tax capacity has decreased. <br />Bremer pointed out the city's tax rate is dependen <br />an increase in their pay. <br />;rease in their pay but that there are some <br />ty council, such as the Lake Minnetonka <br />and resulted in an increase in the City's cost. In <br />I be made up in the 2009 budget. <br />.e line item for the LMCD and that some of these <br />a different label. <br />different house valuations and how the City's tax <br />at 100 percent of market value and that the <br />.e and a $1.1 million home. Olson stated if there was <br />would decrease. <br />'cent increase in property tax for the $1.1 million <br />property. <br />on the valuation of the home. <br />Murphy stated one of the least understood issues is how the taxation process works. The City attempts to <br />• explain the items that taxpayers are subjected to be taxes on and that property taxes in the state of <br />'I <br />PAGE 3 <br />