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FC CASE ADOPT RESOLUTION APPROVING PROPOSED MAXIMUM 1998 PAYABLE TAX LEVY AND SCHEDULING BUDGET PUBLIC HEARING DATES By: Jessie L. Hart, Finance Officer Background: The following information is based on the levy limits as certifed by the Minnesota Department of Revenue. In addition to the levy limit maximum, we are utilizing the ability to apply for a special levy for the differential in the revenues to be realized from the COPSFAST grants between 1997 and 1998. The debt service levy remains outside of the levy limits as certified. proposed 1998 Payable Tax Levy. Proposed Tax Levies: General Fund Levy [levy limit as certified] Special Levy - COPSFAST Grant [being requested] Debt Service Levy $ 2,186,721 27,590 6,295 TOTAL PROPOSED LEVY - 1998 2,220,606 The attacheed resolution, as it is presented, reflects a maximum levy of $2,220,606. A levy at this level is estimated to result in a tax capacity rate of approximately 20.000, or a 2.2% reduction from the 1997 rate of 20.454. While the maximum proposed levy can always be reduced, it cannot be increased without "higher" level approval through an appeals process. Therefore, it is staff's position that the maximum proposed levy be adopted at tonight's meeting at the level proposed. The proposed maximum levy must be certified to Anoka County by Monday, September 16, 1997; therefore, the Council must make a decision at tonights meeting as to the amount of this levy. Scheduling Budget Public Hearing Dates The City of Ramsey's 1998 public hearing to consider the 1998 budget and tax levy must be held between November 29 and December 20, 1997, and the date of the initial hearing must not conflict with the dates selected by the county, school districts or special taxing districts, although the continuation hearing may. We have received notice from Anoka County that the other governmental units have set the following hearing dates: