City Council Meeting Date: September 19, 2017
To: Mayor and City Council
From: Ben Martig, City Administrator
Brenda Angelstad, Finance Director
Title
Consideration of Resolution Adopting a Proposed 2017 Tax Levy Payable in 2018, includes HRA & EDA.
Body
Action Requested:
Staff recommends approval of the recommended Resolution Adopting a Proposed 2017 Tax Levy Payable in 2018 with a preliminary levy increase of (include a number in the motion)% from 2017 to 2018 .
Summary Report:
This action is a requirement of State law, which provides that all local governments approve a preliminary tax levy and budget on or before September 30th of each year.
This preliminary levy constitutes the basis for the "Notice of Proposed Taxes" sent to property owners in mid to late November of each year - just prior to the public hearings. The preliminary levy amount sets the maximum limit. For final approval in December, the levy may be reduced, but not increased.
Attached are three options for the Levy, an 8%, 8.5% and 9% increase. It covers our preliminary General Fund Budget, and projects we currently have included in our Capital Improvement Plan and Capital Equipment Plan.
Over the next several months, the Council will hold budget workshops for the General fund and all other operations. These reviews will culminate in a formal public hearing on the budget and tax levies at a regular meeting on December 5, 2017.
Alternative Options:
* Approve a preliminary levy with an 8.0% increase from 2017 to 2018 (Attachment 1).
* Approve a preliminary levy with an 8.5% increase from 2017 to 2018 (Attachment 2).
* Approve a preliminary levy with a 9% increase from 2017 to 2018 (Attachment 3).
Financial Impacts:
The preliminary levy sets the maximum amount we are able to levy. The council may not increase the total levy after September 30 but they may decrease after that point.
Tentative Timelines:
* The preliminary levy must be submitted to the county by Septe...
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