Agenda - Council - 08/23/1983 - Laserfiche WebLink

Home

'm i To: All City Finance Officers Re: 1984 Local .Government Aid Page 2 August 12, 1983 m 6. 1983 .LOCAL GOVERNMENT AID: l~his -.is ..the total ,of the 1983 lo. ca~l govemnment aid payments currently being made to .your city. I I i I I I I m I I I I I i 7, 1983 ATTACHED MACHINERY AID: Thi.s is the total of the 1983 attached ~machinery aid payments currently being made ~o your city, '~ 8. 1983 REDUCED ASSES~4ENT CREDIT (Al ~CITY AMOUNT: This ~s the .total of the 1983 reduced assessment credit payments currently being made to your city for city government purposes. (B) TAX INCREMENT DISTRICT AMOUNT - ESTABLISHED PROJECTS: ~lis is the total of the )983 reduced.assessment credit payments currently being .n~de to tax increment districts )o.cated within your city, (C) TAX INCREMENT DISTRICT ~40UNT - NE~)'PROJECTS: This is the {oral reduced assessment credit that would have been paid to the tax increment districts located in your city if the ~ew low income and elderly housing projects currently being developed in your city.would have been subject to the property tax for taxes payable in 1983. 9. FINAL 1984 LOCAL REVENUE BASE: This is the total 1984 local revenue .base specified for your city under the local government aid formula, lO. 1982 ADJUSTED ASSESSED VALUE: This is your city's taxable ~alue for assessment year 1982 after adjustment for the assessow's..level of assessment, The assessor's level of assessment is determined by-the Property Equalization Division of the Department of Revenue. Il. MAXIMUM AID: This is the maximum amount of aid yourc~ty is entitled to receive in 1984 under the local government aid formula. 12. MINIMUM AID: This is the minimum amount of-aid your city can receive in 1984 under the local government aid formula... 13. 1984 LOCAL GOVERNMENT AID: This is the actual amountof aid that your city will receive in 1984 under the local government aid formula. It cannot be less than your city's minimum aid nor greater than its.maximum aid. Minnesota Statutes,,!982, Section 477A.014 provides thata governmental unit may object to the amount of aid that the Department of Revenue has determined for it. No objection may be raised later than 60 days after'receipt of this Notice. Such objection should be addressed to Wallace O. Dahl, Director, Local Government Aids and Analysis Division, Department of Revenue, Centennial Office Building, St. Paul, Minnesota 55145. If you have any questions concerning this letter, please call me at (612) 296-2286. Very truly yours, Wallace O. Dahl, Director Local Government Aids and Analysis Division WOD:jdw Enclosures