Agenda - Council - 09/28/2021 - Laserfiche WebLink

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CC Regular Session Meeting Date: 09/28/2021 By: Diana Lund, Finance Information 7.2. Title: Adopt Resolution #21-279 Adopting Proposed 2022 Payable Tax Levies (General, Pavement Management, EDA and Debt Service) and Schedule Public Hearing for December 14, 2021; Adopt Resolution #21-280 Adopting Proposed 2022 General Fund Budget and Resolution #21-281 Adopting Proposed 2022 EDA Budget. Purpose/Background: Purpose: Each taxing authority must certify its proposed preliminary property tax levies for payable 2022 to the County Auditor by September 30, 2021. A budget/levy slide presentation will be provided that will outline the city's proposed 2022 levies and General Fund Budget. The city held several worksessions on the proposed 2022 preliminary budget and related levies, with the last worksession, prior to preliminary adoption, being held on September 28, 2021. Proposed 2022 Payable Tax Levy: Proposed Tax Levies: LG.neral Fund Levy: $ 11,712,590 Pavement Management Fund Levy (Included in General Levy) 1,673,227 LEDA Levy (Included in General Levy) L $ 75,360 [Requested)ebt Service Levy: CIP Bond (Municipal Center) (Being '796,698 Pebt Service Levy - CIP Bond ( Fire Station #2) L $ 280,153 $ 77,910, L $ 101,173 L Debt Service Levy - 2013 Equipment Certificates `Debt Service Levy - 2014 Equipment Certificates Pebt Service Levy - CIP Bond (Public Works Campus) Es 127,276 f2015 Reconstruction Debt - Garnet Street & Overlays L $ 117,293. L2016 Reconstruction Debt - Andrie & Overlays jE $ 153,477 p17 Reconstruction Debt - Sunwood Drive & Alpine $ 95,781 f 2018 Reconstruction Debt -River's Bend & Stanhope Ten -al[ $ 110,340 Total Proposed Levy - 2022 $ 15,321,278 Based upon the proposed levy, the City's estimated tax rate is projected to increase in 2022 from 3 9.251 % (2021) to 42.943% subject to final property and tax calculations by the County. The attached resolution, as it is presented, reflects a levy of $15,321,278. The proposed levy for 2022 reflects a $2,311,471 (17.77% increase) over the adopted levy in 2021 of $13,009,808.