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I <br />i <br />I <br />I <br />I <br />I <br />I <br />I <br />! <br />I <br />I <br />I <br />I <br />I <br />I <br />! <br />I <br />I <br />I <br /> <br />CASE # I <br /> <br />ADOPT 19~96 TAX LEVY AND GENERAL FUND OPERATING BUDGET <br /> By: Jessie L. Hart, Finance Officer <br /> <br />Background: <br /> <br />The 1996 Truth-in-~Taxation Public Hearing was held on Wednesday, November 29, 1995, at <br />7:00 p.m. in the .Council chambers. The information distributed at the hearing included <br />information regardigg the tax capacity rate and tax dollar levies at the maximum as had been <br />certified in September, 1995. The Proposed 1996 General Fund Budget document that was <br />distributed at the h6aring was prepared based on the maximum levy. Adoption at a lower level <br />would require cuts dr eliminations fi.om the proposal. <br /> <br />The 1996 Proposed General Fund Budget, as it has been presented and reviewed in the past <br />several months, is b~sed on the collection of tax dollars at the maximum levy certified and results <br />in a 20.222% tax aapacity rate (for properties located in Rum River Drainage District). This <br /> 0 [' <br />equates to a 3.43 ¼[ ~ncrease in the taxes of a parcel with no value increase. This budget Was <br />balanced through sthff recommended adjustments and resulted in a contingency in the amount of <br />$65,784. <br /> <br />State Statutes req~re that the 1996 Levy and General Fund Budgets must be adopted at a <br />meeting separate fi.~m the public hearing and before December 28, 1995. Therefore, the 1996 <br />Proposed Levy and ~eneral Fund Budget are presented for adoption at tonights Council meeting. <br /> <br />Staff Recommendation: <br /> <br />Staff recommends ~doption of the 1996 property tax levy and General Fund Budget as presented <br />utilizing the maximgun levy which results in a tax capacity rate of 20.222. <br /> <br />Council Action: ~ <br /> <br />Motion to adopt Resolution #95-12-XXX Resolution <br />Municipal Tax Lev? <br /> <br />Adopting the 1995, Payable 1996 <br /> <br />Motion to adopt Re~olution #95,12-XXX Resolution Adopting the 199.6 City of Ramsey General <br /> <br />Fund Operating Bu~Iget. <br /> <br />Reviewed By: <br />City Administrator <br />Finance Officer <br /> <br />Copies Distibuted to: <br /> Police Chief <br /> Fire Chief <br /> City Engineer <br /> Public Works Supervisor <br /> Parks/Utilities Supervisor <br /> <br />CC: 12/12/95 <br /> <br /> <br />