City Council Meeting Date: September 21, 2021
To: Mayor and City Council
From: Ben Martig, City Administrator
Brenda Angelstad, Finance Director
Title
Consideration of Resolution Adopting a Proposed 2021 Total Tax Levy Payable in 2022, includes HRA & EDA.
Body
Action Requested:
Council approval of the attached Resolution Adopting a Proposed 2021 Tax Levy Payable in 2022 with preliminary levy increase of 15.9% from 2021 to 2022.
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 two resolution alternatives, a 15.9% and a 15.0% levy increase. These levy increase alternatives were the highest presented alternatives at last week's work session and were recommended by staff. That amount covers our preliminary General Fund Budget, and projects we currently have included in our Capital Improvement Plan and Capital Equipment Plan and also allows for additional requested items discussed but yet to be prioritized.
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 7, 2021.
City Administrator Martig will be giving a presentation for this agenda item.
Alternative Options:
* Approve an alternative preliminary levy amount of 15%.
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.
Tent...
Click here for full text