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I <br />I <br />i <br />I <br />I <br /> <br />You will recall that state law provides tha~ if the total statewide cost <br />of any of these aid and credit programs is greater than the amount <br />appropriated for the program by the legislature, the dollar amount of <br />the payment for the aid or c~edit which is made to each unit of local <br />government by the Department of Revenue must be reduced. If it turns <br />out that such reductions are necessary this year, the full amount of the <br />reduction will be made by reducing only the December 15th payment for <br />the aid or credit. We will not be making reductions--if any--in your <br />earlier payments because we will not be able to determine the total <br />statewide cost of these programs until November. <br /> <br />The levy limit amount for your city--the exact dollar amount of property <br />tax your city will be permitted to collect for 1983, except for special <br />levies--will be mailed to you in early August by the Department of <br />Revenue. <br /> <br />If your city has a population of 2,500 or more, you will receive a form <br />280 from the Department of Revenue showing your levy limit amount. <br /> <br />If your city has a population under 2,500, you will receive a letter <br />from the Department of Revenue showing your levy limit amount. If, in <br />addition to special levies for tort liability insurance and to pay the <br />principal and interest on bonded indebtedness, your city finds it <br />necessary to make other special levies, please request form 280 from us. <br /> <br />The method for determining each city's levy limit amount for the property <br />tax payable in 1983 is slightly different than the method used for 1982. <br />For 1982 cities had the choice of levying the amount required to pay the <br />principal and interest on bonded indebtedness either by means of a <br />special levy or by including it as part of the general levy. For 1983, <br />however, the amount required to pay the principal and interest on bonded <br />indebtedness can be levied only as a special levy. Accordingly, you can <br />estimate your city's levy limit amount for propertY tax payable in 1983 <br />by following theses steps: <br /> <br />From the total dollar amount of property tax your city levied for <br />1982, subtract the total dollar amount of all special levies. <br /> <br />Also, subtract any amount you may have levied.to pay the principal <br />and interest on bonded indebtedness if you did not levy the amount <br />as a special levy. <br /> <br />Increase the resulting amount by a percentage equal to the percentage <br />increase in the number of homesteads in your city as listed by your <br />county auditor on the abstract of tax lists for 1982 as compared to <br />the number of homesteads listed on the abstract of tax lists for <br />1981. <br /> <br />Increase the resulting amount by eight percent. <br /> <br />The third subject of this letter requires no action by your city, but <br />may be of general interest to you. <br /> <br />-2- <br /> <br /> <br />