City Council Meeting Date: December 3, 2024
To: Mayor and City Council
City Administrator
From: Brenda Angelstad, Finance Director
Title
Public Hearing on the 2025 Budget and Tax Levy.
Body
Action Requested:
The Northfield City Council holds a public hearing for the 2025 proposed tax levy and budget.
Summary Report:
The preliminary levy was approved on September 17, 2024 with a $17,946,596 maximum levy. The HRA and EDA levies, that are included in the overall levy, were preliminarily approved as well. Staff will conduct a presentation of the final levies and budget amounts.
The City Council is proposing as the final property tax levy of $17,731,596, a 15.8% increase, with the corresponding budget. This is a $215,000 reduction from the preliminary. The public will have an opportunity to speak.
There are six budget related approvals that are needed following the public hearing. Council will be asked to approve a final resolution for each of the six areas. A presentation is attached and additional information is contained in the staff reports and resolutions for these items.
The Resolutions will be presented as follows:
• Adopt the final EDA Levy
• Adopt the final HRA Levy
• Adopt the final City Levy
• Adopt the CIP
• Adopt the CEP
• Adopt the 2024 Budget
Financial Impacts:
The levy is the primary source of revenue for the City of Northfield.
Tentative Timelines:
Public Hearing on December 3, 2024.