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REVISED <br />• MINUTES OF THE TRUTH IN TAXATION HEARING <br />HELD AT 7:30 P.M. ON WEDNESDAY, DECEMBER 3,1997 <br />IN THE ORONO COUNCIL CHAMBERS. <br />Members present: Mayor Jabbour and Council Members Goetten, Peterson, Flint and Kelley. Staff <br />present: City Administrator Ron Moorse, Finance Director Tom Kuehn, Assistant Finance Director <br />Chris Miller, and Management Analyst/Accountant Ron Olson. <br />The meeting was called to order at 7:30 p.m. by Mayor Jabbour. Mayor Jabbour indicated the <br />purpose of the Truth In Taxation hearing was to provide an opportunity for Citizens to obtain <br />information about the proposed 1998 Budget and Tax Levy. Moorse provided a brief summary of <br />the budget and tax levy. He indicated the General Fund Budget, which has the greatest impact on <br />the Tax Levy, is proposed at $3,638,095 for 1998. This is an increase of 5.53% over the 1997 <br />budget. The total tax levy required to fund the overall 1998 city budget is $2,225,130. This is an <br />increase of $63,500 or 2.94% over the 1997 levy. <br />The reasons for the tax lees increase are cost -of- living based increases in a number of expenditure <br />items. including employee compensation, and the creation of a Police Sergeant position. <br />• Moorse also indicated the proposed tax levy would result in a reduction in the city's share of the <br />property tax bill for homes in Orono, assuming no change in home valuations. Moorse concluded <br />by indicating the budget is fiscally conservative in that it minimizes the tax levy increase while <br />addressing priority program needs, and both short term and long term infrastructure needs. <br />• <br />Mayor Jabbour asked if there were any questions or comments regarding the budget from the public. <br />Mr. Arnoldy indicated he had a question regarding the valuation of his property. Mayor Jabbour <br />indicated questions regarding property valuation could best be addressed by the City Assessor, and <br />suggested Mr. Arnoldy contact the City Assessor. <br />There being no further comments, Mayor Jabbour closed the hearing and announced that the <br />subsequent levy adoption hearing would be held at 7:00 p.m. on Monday, December 8, 1997. <br />ATTEST: <br />Gabr el Jabbour, Mayor <br />