2B, 2011 Final Budget - Laserfiche WebLink

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Memo City Council 2010 Truth -in- Taxation Hearing Dates and 2011 Preliminary Tax Levy 2 the average medium homeowner in the City of Arden Hips. Public f Sae accounts for increase and $1 3.00 or 26.4% increase 0 1.8 of the levy /o of the tax increase to the average medium homeowner in the City of Arden Hills. Without the MVHC cut or the public safety increase A% p ty increase the budget would show a 1 /fl decrease in the levy over last year. (If no changes were made to the levy over last ear, the average medium g edium homeowner in the City of Arden Hills would still see an increase of $31.52 in their roe taxes a p p rty as a result of the decrease in the local taxable value which caused the Local Tax Rate to rise by 6.1 see e Attachment B_) Truth -in- Taxation Hearing Dates: The 2009 Legislature changed the Truth -in- Taxation laws. We are now only required y q fired to announce and schedule one regular meeting at which the council discusses the budget and levy and vy nd takes comments from the public. We may adopt the budget and final levy after the hearing during g the same meeting. The meeting must be between November 25 and December 26 and must occur at or after 6 p_m_ We must notify the county auditor by September 15. The Council may choose to have a separate meeting or may choose to do this at a regular meeting. Staff is providing two options for the Council to choose from: Monday, December 6, 2010 6:30 p.m. (Special meeting) or Monday, December 13, 2010 7:00 p.m. (Regularly scheduled meeting) It is anticipated the Council will adopt the final 2010 levy a able in 2011 and December 13, 2010. P y the 2011 budget, on Recommended Action: 1. Adopt Resolution 2010 -046, a Resolution setting the relimina le for taxes ry levy xes payable in 2011 in the amount of $3,088,964_ 2. Adopt Resolution 2010 -047, a Resolution adopting Truth -in- `Taxation public g p bloc heanng dates for proposed taxes payable in 2011. The date established is December 2010.