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CASE <br /> <br />PUBLIC HEARING AUTHOR/ZING A TAX RATE INCREASE FOR THE <br />2000 TAX LEVY COLLECTIBLE IN 2001 <br /> By: Diana Lurid, Finance Officer <br /> <br />Background: <br /> <br />A provision in the I999 Omnibus Tax Bill requires counties and cities over 500 population to <br />hold a public hearing and adopt a resolution before a "levy certification' tax rate" increase may <br />be allowed. (Minnesota Statute 275.078). <br /> <br />This public hearing is in addition to the Truth in Taxation public hearing which wi'll be held on <br />December 4, 2000. The state law requires that an additional public hearing be held in the event <br />that there iS a tax rate increase fi.om 2000 to 2001. <br /> <br />In essence, the law requires cities to hold a public hearing and pass a resolution indicating that <br />the tax rate is higher than it would have been had the same dollars been levied as the previous <br />year. <br /> <br />Attached is a worksheet showing the calculation of whether or not a tax rate increase is proposed. <br />Based on line 10 of the worksheet, the City of Ramsey's net levy will increase fi.om $2,166,420 <br />to $2,929,720 or a 35 percent increase. <br /> <br />By imposing a levy certification tax rate increase, the Council must adopt a resolution approving <br />the tax rate increase, and file a copy of the resolution with the County Auditor ion or before. <br />October 20, 2000. <br />Attached is the resolution authorizing a tax rate increase. / ~~O'2~ . <br />Council Action: · <br />Hold public hearing and then motion to adopt Resolution #00-I0-XXX A0opting Authorization <br />of Tax Rate Increase for the 2000 Tax Levy, Collectible in 2001 and authorize staff to file copy <br />of adopted resolution with the County Auditor. <br /> <br />Reviewed By: <br /> <br />City Administrator <br />Finance Officer <br /> <br />CC: 10/10/00 <br /> <br />-49- <br /> <br /> <br />