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CASE <br /> <br />PUBLIC HEARING AUTHORIZING A TAX RATE INCREASE FOR THE <br />1999 TAX LEVY COLLECTIBLE IN 2000 <br /> By: Diana Lund, Finance Officer <br /> <br />Background: <br /> <br />A provision in the 1999 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 heating is in addition to the Truth in Taxation public hearing which will be held on <br />December 6, 1999. The new state law requires that an additional public heating be held in the <br />event that there is a tax rate increase from 1999 to 2000. <br /> <br />In essence, the new law requires cities to hold a public hearing and pass a resolution indicating <br />that the tax rate is higher than it would have been had the same dollars been levied as the <br />previous year. <br /> <br />Attached is a worksheet showing the calculation of whether or not a tax rate increase is proposed. <br />Based on the calculations for the City of Ramsey, the City's tax rate will increase by 9.72 <br />percent, from 19.66 percent in 1999 to 21.57 percent in 2000. <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 on or before <br />October 20, 1999. <br /> <br />Attached is the resolution authorizing a tax rate increase. <br /> <br />Council Action: \~ <br />Hold public hearing and then motion to adopt Resolution #99-10-XXX Adopting Authorization <br />of Tax Rate Increase for the 1999 Tax Levy, Collectible in 2000 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: 10/12/99 <br /> <br /> <br />