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MINUTES OF THE <br /> ORONO CITY COUNCIL MEETING <br /> Monday,December 6,2021 <br /> 6:00 o'clock p.m. <br /> ROLL CALL <br /> The Orono City Council met on the above-mentioned date with the following members present: Mayor <br /> Dennis Walsh,City Council Members Matt Johnson,Aaron Printup,Richard Crosby III,and Victoria <br /> Seals. Representing Staff were City Attorney Leah Koch,City Administrator/Engineer Adam Edwards, <br /> Finance Director Ron Olson,and City Planner Melanie Curtis. <br /> Mayor Walsh called the meeting to order at 6:00 p.m.,followed by the Pledge of Allegiance. <br /> TRUTH IN TAXATION PUBLIC HEARING <br /> 1.2022 BUDGET HEARING <br /> a.2022 Budget Information <br /> Mayor Walsh opened the public hearing at 6:01 p.m. <br /> Finance Director Olson shared a presentation noting the purpose of this meeting is to talk <br /> specifically about the budget and the tax levy. Taxes are figured by the Hennepin County <br /> Assessor who looks at properties,market trends,and adjusts property values within the City.Mr. <br /> Olson clarified in looking at a home's market value, 1%of the first$500,000 and an additional <br /> 1.25%of any value over$500,000 is the tax capacity of any individual property.The property tax <br /> rate starts with a City coming up with a property tax levy for the year, dividing that number by <br /> the total City tax capacity,adding all of the properties together and then dividing that by the tax <br /> capacity which gives the tax capacity rate.This year's budget tax levy is$6,900,000 divided by <br /> $41,394,000 tax capacity equals a 16.78%tax capacity rate for Orono properties in 2022.A <br /> property's tax capacity multiplied by the City's tax capacity rate gives the net City tax.Mr. Olson <br /> gave a real example of the tax impact on a$1,036,000 home in Orono.Mr.Olson noted Orono <br /> has one of the lower tax rates in the County. He walked through the City's 2022 budget and tax <br /> levy in further detail including general fund,facilities fund, pavement management,parks,and <br /> debt service and bonds. <br /> Mayor Walsh closed the public hearing at 6:29 p.m. <br /> h. Adopt Final 2021 Levy Collectible in 2022 <br /> c.Adopt Final 2022 General Fund Budget <br /> d.Adopt the 2022 Special Revenue Funds Budget <br /> e.Adopt the 2022 Enterprise Fund Budget <br /> Printup moved,Seals seconded,to approve the 2022 Property Tax Levy,2022 General Fund <br /> Budget,2022 Special Revenue Fund Budget,and the 2022 Enterprise Fund Budget. VOTE: Ayes 5, <br /> Nays 0. <br /> APPROVAL OF AGENDA <br /> Page 1 of 4 <br />