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NEW BUSINESS – 8A <br /> MEMORANDUM <br /> <br />DATE: September 29, 2014 <br /> <br />TO: Honorable Mayor and City Council Members <br /> <br />FROM: Patrick Klaers, City Administrator <br /> <br />SUBJECT: 2015 Proposed Preliminary Budget and Tax levy <br /> <br /> <br /> <br />Background <br /> <br />At the September 15, 2014, City Council work session, the proposed 2015 City Budget <br />was distributed. <br /> <br />Discussion <br /> <br />The City Council had a 2015 budget and tax levy discussion during the September 22, <br />2014, work session. At this work session staff was directed to prepare a preliminary levy <br />resolution that called for a 5% increase. <br /> <br />The preliminary tax levy amount certified in September can be decreased but not <br />increased when the final tax levy amount is approved in December. <br /> <br />Please note that the budget message in the 2015 Budget that was distributed on <br />September 15th contemplates a 4.5% tax levy increase. Therefore, the Council should <br />refer to the updated budget message that is attached to this cover memo. This attached <br />memo reviews the proposed budget and tax levy at the 5% level. The extra ½% tax levy <br />increase generates an additional $16,450 in revenues. <br /> <br />Also attached to this memo is a slide from the Truth in Taxation hearing from last year <br />that shows the municipal tax rate for cities in Ramsey County.