City Council Meeting Date: December 5, 2017
To: Mayor and City Council
City Administrator
From: Brenda Angelstad, Finance Director
Title
Consider Adopting the 2017/Payable 2018 HRA Tax Levy
Body
Action Requested:
The Northfield City Council approves a resolution adopting a final levy for the HRA.
Summary Report:
Attached is the final levy resolution for the HRA. The HRA is proposing a 4.4% increase, to correspond with an early estimate of the City’s taxable market value increase. The overall tax rate for the HRA will decrease due to expanded tax capacity.
Alternative Options:
Council may lower the HRA levy to an amount lower than recommended by the HRA.
Financial Impacts:
The levy affects the HRA budget.
Tentative Timelines:
Council must pass a final levy for the HRA in December to meet submission deadlines to Rice County.