CCP 11-12-1996 - Laserfiche WebLink

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I ~.1 Minnesota. Without programs such as LOA and HACA and the appropriation of additional I 2 state resources to these programs, the property tax will continue to escalate, thus these 3 programs will not accomplish their intended goals, I 4 Response: LGA and HACA, or similar replacement revenues, must be continued and I 5 additional state resources greater than the rate of inflation must be allocated to prevent I 6 rapid future property tax increases. I 7 FF-3. Circuit Breaker and Targeting on the Property Tax Statement I 8 Issue: Beginning in 1998, the circuit breaker and targeting payments which are currently I 9 made directly to individuals will be converted to a property tax statement credit and payments 10 will be made directly to local units of government, As a reimbursement to local government "1 rather than a direct payment to the taxpayer, the funding for the program could be reduced I 12 without directly impacting the taxpayer but with substantial financial impact on local units of 13 government. I 14 Response: The circuit breaker should remain a direct payment to taxpayers. The I 15 1995 law should be repealed. I FF-4. Taxation of Municipal Bond Interest 16 I 17 Issue: The state law that grants a tax exemption for municipal bond interest is being I 18 reviewed and could be repealed. A repeal of this exemption will raise borrowing costs for 19 cities at a time when budgets are extremely tight and property tax increases are unacceptable to I 20 the taxpayer. ~ I 1997 City Policies 5 . :~.