Agenda - Council - 08/27/1991 - Laserfiche WebLink

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CASE TRUTH IN TAXATION CALENDAR AND PROPOSED 1992 GENERAL FUND OPERATIONAL BUDGET AND PROPOSED 1991, PAYABLE 1992 MUNICIPAL LEVY By: Sandra Ashley Helling, Finance Officer Background: The Truth in Taxation law, M.S. 275.065, requires cities to hold a public budget hearing for property taxes payable in the year 1992. This hearing must be held between November 15 and December 20; the date cannot conflict with the dates set by the County or local school districts. On August 20, 1991 the County confirmed the public hearing dates for the other taxing authorities: Taxing District Anoka County School District #11 School District #728 Heating Date December 4 December 2 November 26 Reconvene Date December 11 December 9 November 27 * *This date in all likelihood will change; note item 4 below. If it is the desire of the Council to hold our initial public hearing on the date of a regular Council meeting, Tuesday, December 10, 1991 is the only date available. The reconvene date is suggested for the following Tuesday which is December 17, 1991. If other dates are preferred, attached is a worksheet for the months of November and December for the Council's review. The Department of Revenue has issued specific requirements regarding the date/time for the hearings and they are: 1) 2) 3) 4) The hearing cannot be held on a Sunday. If the hearing is held on a day other than Saturday, it must be held after 5:00 p.m. If the hearing is on the same day as a regularly scheduled meeting, the public hearing on the proposed property tax must be dealt with first; the subjects of the public hearing and regularly scheduled meeting may not be intermingled, and the final property tax levy for payable 1992 must be adopted at the conclusion of the public hearing unless a continuation hearing is scheduled and held. A reconvene or continuation hearing must be held at least five business days, but no more than 14 business days, after the original hearing. In addition to establishing the public hearing dates, the Council must adopt a proposed 1992 budget and levy such that certified copies can be delivered to the County Auditor on or before September 3, 1991. The attached resolution for the Proposed General Fund Operational Budget provides for a balanced budget. As the budget requests are in the process of review and the budget workshops will continue through November 12, the final proposed budget will also be a balanced budget, but the line items may be increased or decreased based upon the recommendation of the Budget Committee and adoption by Council. The levy limit has been used to establish the Proposed 1991, Payable 1992 Municipal Levy for the City of Ramsey. As the City may not adopt a final levy that exceeds the proposed amount, it was the consensus of the Budget Committee that the levy limit should be used at this time. For comparison purposes: Increase 1991 1992 (Decrease~ General Levy $1,459,962 $1,531,174 $71,212 Debt Service 11~,802 18.498 (304) Total Levy $1,478,764 $1,549,672 $70,908 The proposed Municipal Levy represents a 4.8% increase; however, the General Levy has been increased for the 1992 Local Government Aid cut only and the Debt Service Levy has decreased slightly.