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<br /> AUG 08 '94 03: 28PM 5T. COUPT Ar'MIr 1I5TPATOP .=. S.'l'~ <br />. <br /> ARDEN Hll..LS CITY COUNCn... JULy 25,1994 4 <br /> resolved, but she does not see that a survey can be done in the immediate future. <br /> Malone stated that he is comfortable with the 4.95 % budget increase. <br /> Mayor Probst asked for the numbers of trUth in wation that will be published and whether <br /> they will be certified as the City's maximum on September IS, 1994. <br /> Post answered that the 1995 net levy publiShed would be the gross levy less state HACA aid <br /> or 4.95%. It would be staffs recommendation for these numbers to be certified, but will be <br /> subject to change once the amounts for HACA and fiscal disparities are finalized. He asked <br /> for any Council suggestions or modifications as the detailed budget is being finalized. <br /> Malone stated that he believes the City is on track and commended the staff for keeping the <br /> numbers under control. He is comfortable with the 4.95% budget increase. <br /> Mayor Probst asked how much longer the significant amount of commercial w valuation <br /> activity will continue. <br />. Post stated that the number of petitions in the county was down in 1994, compared to 1993. <br /> New activity also seems to be slowing down. <br /> Hicks asked if MSI and Land '0 Lakes have gone through revaluation. <br /> Post stated that both taxpayers have successfully petitioned lower market valuations for their <br /> industrial property. <br /> Mayor Probst stated that he would like to see that when commercial properties start to sell, <br /> there will be some demonstration of strength with valuations moving up, <br /> Post stated that until that happens, the City is faced with reduced valuations because of <br /> previous and pending petition activity. <br /> Hicks asked how many years can be petitioned. <br /> Post stated that petitions must be filed for the current wes payable year and then go through <br /> the' appeals process; and the process must be repeated for subsequent years. Appeals must be <br /> prompt with filing or miss that valuation year. <br /> Malone asked if they me every year. <br />. Post stated that he is aware of some taxpayers, such as MSI, filing successive petitions. <br /> Mayor Probst again thanked staff for their fine work. <br />