HomeMy WebLinkAbout13.F.1. Proposed Maximum 2009 Tax Levy Collectible in 2010-Res. No. 6930
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City of Shako pee
Memorandum
TO: Mayor and Council
Mark McNeill, City Administrator
FROM: Gregg Voxland, Finance Director
RE: 2010 Proposed Tax Levy and Budget Resolution
DATE: August 19, 2009
Introduction
Attached is Resolution Number 6930, which sets the proposed
maximum 2009/10 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 18, 2009.
Tax Levy
The proposed maximum tax levy for 2009/10 is shown below. The
decrease in the gross levy is $50,000 or 0.3% due to the
decrease in the referendum based levy for the fire station
bonds.
Proposed Levied
2009/10 2008/09
Operating levy $13,814,206 $13,652,000
City levy for EDA -0- 60,000
Debt levy reclassification 341,932 253,115
Limited levy 13,814,206 13,965,115
Debt service levy 898,244 1,005,438
Debt levy reclassification (341,932) (253,115)
Debt Service referendum 201,227 246,239
Total gross levy $14,913,677 $14,963,677
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 $251,227. Due to funds on hand, the levy is being
reduced by $50,000. This levy is on the market value of real
estate and not the tax capacity value.
The fiscal disparity distribution number for 2010 has been
received. The estimated impact of setting the same levy as pay
2009 has changed from a $7 increase on the largest block of home
to being a $7 decrease. In other words, 56% of the residential
parcels would see a tax decrease.
Governmental Funds Budget
The City is required to certify a proposed budget ( expendi t ure s )
to the County Auditor 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 $31,001,370. The budget is not fixed. The comparable
number last year was $31,188,200.
Public Hearing Date
The date for the official ~Truth in Taxation" pubic hearing on
the tax levy and budget is December 1st at the regular Council
meeting. A special separate meeting is no longer required.
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 2010 tax levy and
budget on December 1, 2009 at 7:00 PM located at City Hall, 129
Holmes Street.
Offer Resolution Number 6930 A Resolution Setting Proposed
Maximum 2009 Tax Levy, Collectable In 2010, and move its
adoption.
G~OXland
Finance Director
h:\budget10\budres 10
RESOLUTION NO. 6930
A RESOLUTION SETTING PROPOSED MAXIMUM 2009 TAX LEVY,
COLLECTIBLE IN 2010
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
Shakopee;
General Levy $14,717,438
Plus Economic Development Authority -0-
Debt Service - Fire Referendum 201,227
(Market Value)
BE IT FURTHER RESOLVED, that the proposed expenditures for the
Governmental Funds Budget for 2010 is $31,001,370.
BE IT FURTHER RESOLVED, that the public hearing on the tax levy
and budget is set for December 1st at 7:00pm.
Adopted in session of the City Council of the City of
Shakopee, Minnesota held this day of September, 2009.
Mayor of the City of Shakopee
ATTEST:
City Clerk