City Council Meeting Date: September 20, 2022
To: Mayor and City Council
From: Ben Martig, City Administrator
Brenda Angelstad, Finance Director
Title
Consideration of Resolution Adopting a Proposed 2022 Total Tax Levy Payable in 2023, includes HRA & EDA.
Body
Action Requested:
Council approval of the attached Resolution Adopting a Proposed 2022 Tax Levy Payable in 2023 with preliminary levy increase of 18.5% from 2022 to 2023.
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 is a resolution for an 18.5% levy increase, which allows for additional funding to support Police, Library, Parks and Facilities.
Over the next several months, the Council will hold budget workshops for the General fund and all other operations with a focus on the 2024 budget and beyond
City Administrator Martig will be giving a presentation for this agenda item. There will be a formal public hearing on the budget and tax levies at a regular meeting on December 6, 2022.
Alternative Options:
* Alternative options of 15.3% and 16.5% for the 2023 levy were discussed at the September Work Session and the 18.5% option was the recommendation.
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 September 30, 2022.
* The final levy will be considered for adoption in December 2022, at least after the public heari...
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