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~) STATE OF MINNESOTA /~ NiAYlSSZ <br /> <br /> m i / CENTENNIAL OFFICE BOILDING \~o/ ."U/ <br /> ~/ SAINT PAUL, MINNESOTA 55145 ,l~....~.~/ <br /> <br />i May 21, 1982 <br /> <br /> TO: CITY ADMINISTRATORS, FINANCE OFFICERS OR CLERKS <br /> <br /> This letter l) announces a cut in the total dollar amount of the homestead <br /> credit which will be paid to all cities for 1982; 2) reviews the method <br />I for estimating the levy limit amount for property tax payable <br /> cities <br /> for <br /> in 1983; and 3) explains how the homestead credit will be applied to <br /> each homeowner's property tax bill for property tax payable in 1983. <br />I In its regular 1982 session, the legislature passed a law which requires <br /> the Department of Revenue to reduce by $5.5 million the total dollar <br /> amount of the homestead credit payment we will make to all cities for <br /> the year 1982. <br /> <br /> As a result of this law, we estimate that the total dollar amount ~f the <br />I homestead credit payment which each individual ci'ty in the state will be <br /> receiving for 1982 will be approximately seven percent less than the <br /> amount each city would have received if the reduction had not been <br />I req u i red. <br /> Your city and all other cities will receive payment of the 1982 homestead <br />I credit according to the usual schedule--six monthly payments beginning <br /> July 15, and ending December l§. However, we will not be able to determine <br /> the exact dollar amount which will be cut from each city's total homestead <br /> credit payment for 1982 until we prepare the checks for the September <br />I 15th payment. The estimated seven percent reduction in the total dollar <br /> amount of each city's homestead credit payment for 1982 will be made by <br /> reducing the dollar amount of each of the last four monthly payments-- <br />I beginni wi th the September 15th payment. ' <br /> ng <br /> <br /> Except for this reduction in the amount of the homestead credit payment <br />I to cities--and the reduction in the an~ount of the local government aid <br /> payment to ~ities which I explained in a letter dated February 26, ., <br /> 1982--the legislature has taken no action to reduce the amounts of any' <br /> other aids and credits the Department of Revenue will pay to cities for <br />I 1 982. <br /> <br /> However, you may wish to keep in mind that there is a possibility--only <br />I small possibility, believe--that the dollar amounts of all <br /> a <br /> we <br /> any <br /> or <br /> of the aid and credit payments you will receive from the Department of <br /> Revenue this year may be reduced for a different reason. <br />I~- ,...~' rOver) ~ '~~ _~ <br /> AN EQUAL OPPORTUNITY EMPLOYER ...~ r,/,~;~! i~_l~~ ~ <br /> <br /> <br />