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I <br />I <br />I <br />I <br />I <br />i <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />i <br />I <br />I <br />I <br />I <br />I <br /> <br />CASE #13: <br /> <br />b) <br /> <br />Homestead Credit Shortfall - Enclosure (D3-i) contains a letter <br />from the Minnesota Department of Revenue regarding legislative <br />action which reduces homestead credit payment to Cities. This <br />will reduce our homestead credit reimbursement between $15,000 <br />and $17,000 which we receive from the State. <br /> <br />I will further explain about this at the meeting, as it is a very <br />serious action taken by the State legislators in regards to City <br />finances. <br /> <br />PROPERTY MARKET VALUATIONS: <br /> <br />Enclosure (D3-j) contains the following documentation for Council information: <br /> <br />a) Formula to Compute Agricultural Land - This enclosure shows how the <br /> Assessors and the State arrived at the agricultural land valuations. <br /> <br />City Assessor Wirz will be going over this with you when he gives <br />his Staff report. . . <br /> <br />b) <br /> <br />Sales Ratio - This office is going to start submitting sales ratio <br />on parcels sold in Ramsey. This will keep the Council better in- <br />formed as to what is occuring in real estate sales here in Ramsey <br />in respect to their valuation as established by the City Assessor. <br /> <br /> <br />