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7A, 2011 Operating Levy Payable 2012 and 2011 Truth-In-Taxation
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7A, 2011 Operating Levy Payable 2012 and 2011 Truth-In-Taxation
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10/24/2024 10:40:06 AM
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9/9/2011 3:55:03 PM
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Reg City Council Meeting - Sept 12, 2011
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� <br />EN HILLS <br />�►�� .�����i�� <br />DATE: September 12, 201 l. <br />TO: Honorable Mayor and City Council <br />FROM: Patrick Klaers, City Adminisirator <br />Sue Iverson, Director of Finance and Adnainxstrative Services <br />SUBJECT: 2012 Proposed Preliminary Budget and Ta� Levy <br />INTRODUCTION <br />In prepaz�ation for adoption of the preliminary tax levy at the first meeting in September, this <br />�nemo addresses the foilanving information: preliminary tax levy, residential property values, <br />operating budget, salary and b�nefit changes, and prelirniz�ary f�nd balance projectians. This <br />information has been updated bas�d on the feedback received from the City Council at ihe <br />August 29, 2011 work sessian. <br />PRELIMiNARY TAX LEVY <br />The table below provides a cozx�parisan of the 2011 adopted levy and ihe �evy needed to support <br />the prelimFnary 2412 budget and capital projects. It also shows a comparison o� the City's t� <br />rate. <br />You wili see that fik�e Ievy has increased by 3% over 2011 and the tax rate has increased, this is <br />due in part to the cha�ge in legislation regarding the Market Va1ue Homestead Credit {MVHC) <br />prograzxz, a xeduction in our share of fiscal disparxty dollars, and the increase in the levy. <br />
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