HomeMy WebLinkAbout5.F.5. 2009 Proposed Tax Levy and Budget Resolution-Res. No. 6802
5.F:O:
City of Shakopee
Memorandum
TO: Mayor and Council CONSEf4T
Mark McNeill, City Administrator
FROM: Gregg Voxland, Finance Director
RE: 2009 Proposed Tax Levy and Budget Resolution
DATE: August 19, 2008
Introduction
Attached is Resolution Number 6802, which sets the proposed
maximum 2008/09 tax levy.
Time frames
The existing law requires that Shakopee certify a proposed
budget, budget hearing date and proposed maximum tax levy to the
county by September 15. The City has to certify the final levy
to the county by December 23, 2008.
Tax Levy
The proposed maximum tax levy for 2008/09 is a levy of
$14,963,677 including a levy for debt service of $1,251,677
which includes the market value referendum levy. The levy last
year was $14,202,007 including $1,101,007 for debt service. The
increase in the gross levy is $711,670 or 5.4%.
Additionally, the part of the EDA levy for economic development
purposes in the amount of $60,000 is included in the levy (and
levy limit as per the State Department of Revenue) .
The decision to reduce the levy can be made at a later date
because it is the maximum proposed levy being adopted now.
The levy for the fire station bonds is already set by previous
action and is $246,239 (included above) . This levy is on the
market value of real estate and not the tax capacity value.
Governmental Funds Budget
The City is required to certify a proposed budget to the County
Audi tor by September 15th. Council may change the amount up or
down for the final budget. The resolution includes the
Governmental Funds Budget proposed expenditures in the amount of
$31,188,200. The budget is not fixed. The comparable number
last year was $30,425,470.
Public Hearing Date
The date for the official UTruth in Taxation" pubic hearing on
the tax levy and budget that is reserved for cities is December
1 with the continuation date of December 8th if needed.
Alternatives
1. Adopt resolution as drafted.
2. Increase or decrease amounts for tax levy or budget in the
resolution.
Action
Move to set the public hearing date for the 2009 budget on
December 1 with continuation date of December 8th.
Offer Resolution Number 6802 A Resolution Setting Proposed
Maximum 2008 Tax Levy, Collectable In 2009, and move its
adoption.
Gr&/~d
Finance Director
h:\budget09\budres09
RESOLUTION NO. 6802
A RESOLUTION SETTING PROPOSED MAXIMUM 2008 TAX LEVY,
COLLECTIBLE IN 2009
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SHAKOPEE,
COUNTY OF SCOTT, MINNESOTA, that the following amounts be levied
as the proposed maximum tax levy in accordance with existing law
for the current year upon the taxable property in the City of
Shakopeei
General Levy $14,657,438
Plus Economic Development Authority 60,000
Debt Service - Fire Referendum 246,239
(Market Value)
'BE IT FURTHER RESOLVED, that the proposedexpendi tures for the
Governmental Funds Budget for 2009 is $31,188,200.
BE IT FURTHER RESOLVED, that the City Clerk is hereby instructed
to transmit a certified copy to this resolution to the County
Auditor of Scott County, Minnesota.
Adopted in session of the City Council of the City of
Shakopee"Minnesota held this day of September, 2008.
Mayor of the City of Shakopee
ATTEST:
City Clerk