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<br />Mr. Rick Box representing R & R Leasing addressed Council concerning the valuations <br />for their property. <br /> <br />City Attorney Hoeft advised him that valuations are handled by the County not the City. <br /> <br />Ms. Paulseth indicated that he would have needed to come to the Board of Review <br />meeting in the Spring to contest a valuation. <br /> <br />City Attorney Hoeft advised him that he could contact an attorney and contest the <br />valuation through the court system until March 31, 2004. He then recommended <br />discussing the matter with his boss and seeking legal counsel. <br /> <br />Council Member Capra indicated that the budget figures were offby $1.00. <br /> <br />Ms. Paulseth indicated that Staff was estimating based on state information and was off <br />by $1.00 on the estimate of State Aid that the City would be losing. <br /> <br />Ms. Paulseth indicated the tax levy was increased by 3.96% over last year to cover a <br />portion of lost State Aid. She then noted that there was no tax levy increase last year so <br />that 3.96% covers two years. <br /> <br />Council Member Capra.asked for information on the amount of the 4Lcrease to residents. <br /> <br />Council Member Paar indicated his went down. <br /> <br />Council Member Capra indicated hers went up. <br /> <br />Ms. Paulseth explained that the city tax rate went down so if a property valuation stayed <br />the same the resident would actually see an 8.7% decrease but it is hard to predict <br />because of the differences in valuation. She then said that having the tax rate go down <br />8% is good. <br /> <br />Motion bv Council Member Capra. seconded bv Council Member Lee to close the <br />public bearin!!. All in favor. Motion carried unanimouslv. <br /> <br />Mayor Sweeney closed the public hearing at 7:35 p.m. <br /> <br />2. . Special Assessments - Peltier Preserve 2003 Certification to 2004 Prollertv Taxes <br />(Resolution #03-062) <br /> <br />Ms. Moore-Sykes indicated that the Finance Director had looked into the history of the <br />$50,000 for Lakeland Hills and has determined that the developer still owes the City <br />$53,947.86. <br /> <br />Council Member Capra indicated the $50,000 was in addition to the costs outstanding to <br />the City. <br /> <br />Page 3 of 19 <br />