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ARDEN HILLS CITY COUNCIL DECEMBER 9, 20134 <br /> <br />value compared to the county average increase of 0.2%. She provided the Council with examples <br />on calculating property tax rates. <br /> <br />Director of Finance and Administrative Services Iverson <br />noted that according to Ramsey <br />County, assessed values have declined for five consecutive years as a result of the recession and <br />loss of financing liquidity, and had also been fueled by pessimistic buyer expectation. There are <br />now encouraging signs that the markets have stabilized, or are stabilizing. We are now <br />experiencing a slight increase in residential values, rising apartment values, and the commercial <br />markets are also showing promise of appreciation but are still down. Foreclosures are at a lower <br />percentage than they have been in many years. <br /> <br />Director of Finance and Administrative Services Iverson <br />explained that in order to evaluate <br />the true impact to the residential property owner, you need to take into account the increase in <br />fiscal disparities (increase of 5.8%) and the change in the taxable value (increase of 1.7% after <br />exclusions). To help illustrate this, she reviewed a number of tables showing the impact to the <br />residential property owner due to the increase in fiscal disparity dollars and changes in the <br />assessed market value. This results in a net tax rate decrease of 2.1% before any levy changes are <br />made. <br /> <br />Director of Finance and Administrative Services Iverson <br />reported that the Council would be <br />holding a Truth-In-Taxation hearing this evening before adopting the final budget and levy. The <br />proposed levy increase for 2014 was 3.1%. She reviewed the proposed levy amount in <br />comparison to several neighboring communities. The key budget elements were then discussed. <br />Staff reported that a final levy needs to be approved by the Council and certified with the County <br />by December 26, 2013. <br /> <br />Mayor Grant <br />stated that New Brighton would be receiving $739,000 in LGA next year. This <br />allowed New Brighton to reduce their levy for 2014. <br /> <br />Councilmember Werner <br /> asked why surface water management would be increasing in 2014. <br /> <br />Public Works Director Maurer <br />explained that the future PMP had significant storm sewer <br />improvements planned. Also, the new MS4 permit regulations require significant technical <br /> and the City will <br />need to hire a consultant to assist with this process. <br /> <br />Mayor Grant <br /> requested a list of items that were removed from the 2014 budget. <br /> <br />Director of Finance and Administrative Services Iverson <br /> explained that the Council directed <br />th <br />staff to reduce expenses at their November 18 work session and eliminated Council meals, the <br />estimated 2014 sales tax savings due to new legislation, Celebrating Arden Hills, and City <br />Council national training expenses. She then reviewed the changes made to the transfers and the <br />PIR fund. <br /> <br />Mayor Grant <br /> <br /> <br />