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<br />~ <br />/],\~HILLS <br /> <br />MEMORANDUM <br /> <br />DATE: <br /> <br />September 7,2004 <br /> <br />Agenda Item 6.A <br /> <br />TO: Honorable Mayor and City Council <br /> <br />FROM: Murtuza Siddiqui, Finance Director/Treasurer 'W\~ <br /> <br />SUBJECT: Establishing 2004 Truth in Taxation Dates and Adoption of the Payable 2005 <br />Preliminary Levy <br /> <br />BACKGROUND: <br />By September 15, 2004, the City is required to adopt and certify to Ramsey County a preliminary <br />levy and Truth in Taxation dates for the upcoming dates. <br /> <br />DISCUSSION: <br />At the August 9, 2004, Budget Work Session, the Council decided to certify a 4% increase in <br />levy to the County for a proposed amount of$2,426,670. This is preliminary levy and a final <br />certification will be made in December 2004. <br /> <br />The Truth in Taxation hearing dates are established as follows: <br /> <br />Monday, Decembcr 6,2004 - initial hearing date <br />Monday, Dccember 13,2004 - continuation hearing date <br /> <br />It is anticipated that the Council will adopt thc final payable 2005 levy and the 2005 Budget on <br />December 13, 2004. <br /> <br />RECOMMENDED ACTION: <br />Staffrequests that the Council consider approving the following: <br /> <br />I" Resolution 04-46: A resolution setting the preliminary levy for taxes payable in 2005. <br />2. Resolution 04-47: A resolution adopting Truth in Taxation hearing dates for proposed <br />taxes payable in 2005. <br /> <br />" <br /> <br />\ <br /> <br />. <br /> <br />. <br /> <br />. <br />