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CC Regular Session <br />Meeting Date: 09/27/2022 <br />By: Diana Lund, Finance <br />Information <br />7. 1. <br />Title: <br />Adopt Resolution 22-225 Adopting Proposed 2023 Payable Tax Levies (General, Pavement Management, EDA and <br />Debt Service) & Schedule Public Hearing for December 13, 2022; Adopt Resolution #22-226 Adopting Proposed <br />2023 General Fund Budget and Resolution #22-227 Adopting Proposed 2023 EDA Budget. <br />Purpose/Background: <br />Purpose: Each taxing authority must certify its proposed preliminary property tax levies for payable <br />2023 to the County Auditor by September 30, 2022. <br />A budget/levy slide presentation will be provided that will outline the city's proposed 2023 levies and <br />General Fund Budget. <br />The city held several worksessions on the proposed 2023 preliminary budget and related levies, with <br />the last worksession, prior to preliminary adoption, being held on September 13, 2022. <br />Proposed 2023 Payable Tax Levy: <br />Proposed Tax Levies: <br />TGeneral Fund Levy: I $ 13,145,820 <br />[Pavement Management Fund Levy (Included in General Levy) <br />1EDA Levy (Included in General Levy) <br />1F1,756,889� <br />i F610 <br />1-$ 1,103,900 <br />L$ 281,623 J <br />F75,705 <br />r$ 104,438 <br />[127,276 J <br />114,668 <br />1-$ 151 108 <br />Debt Service Levy: CIP Bond (Municipal Center) (Being Requested) <br />Debt Service Levy - CIP Bond ( Fire Station #2) <br />Debt Service Levy - 2013 Equipment Certificates <br />Debt Service Levy - 2014 Equipment Certificates <br />[Debt Service Levy - CIP Bond (Public Works Campus) <br />015 Reconstruction Debt - Garnet Street & Overlays <br />[016 Reconstruction Debt - Andrie & Overlays <br />[017 Reconstruction Debt - Sunwood Drive & Alpine <br />12p 8 Reconstruction Debt -River's Bend & Stanhope Terrace <br />r2022 Reconstruction Debt - $12M of additional Road Projects <br />Total Proposed Levy - 2023 <br />$ 18,292,245 <br />[94,558 � <br />7108,043 <br />1[s1,14so7 <br />Based upon the proposed levy, the City's estimated tax rate is projected to decrease in 2023 from <br />42.238% (2022) to 40.562% subject to final property and tax calculations by the County. The attached <br />resolution, as it is presented, reflects a levy of $18,292,245. The proposed levy for 2023 reflects a <br />$2,979,389 (19.46% increase) over the adopted levy in 2022 of $15,312,856. <br />