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<br /> <br /> <br /> <br /> <br /> <br />AstheCitybecomesmoredevelopedandhaslesslandavailablefornewresidential <br />development,theCity’soperatingexpendituresshouldincreasewithincreasesintheCPIwith <br />theexceptionofa“catchͲup”ininfrastructureimprovements. <br /> <br />CurrenteconomicconditionshavecausedtheCity’smarketvaluestodecreaseby0.75%.In <br />2002theStateLegislatureenactedmajorpropertytaxreformwhichloweredallpropertyclass <br />rates.TheCity’staxcapacityhasallowedthecitytomaintainataxratethatisoneofthe <br />lowestintheMinneapolis/St.PaulMetropolitanarea.Currently,theCityhasoneofthelowest <br />ratesinthenortheastmetropolitanareaasshowninthegraph. <br /> <br />Ͳ60% <br />Ͳ40% <br />Ͳ20% <br />0% <br />20% <br />40% <br />60% <br />80% <br />2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 <br />Budgetvs.CPI <br />Budget CPI <br />$0 <br />$500 <br />$1,000 <br />$1,500 <br />$2,000 <br />$2,500 <br />2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 <br />PerCapitalSpending <br />16