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The preliminary levy was originally set at $2,310,695. The net effect of all the budget <br />over 2019. <br /> <br />Debt Service Levies <br /> <br />The original debt levies certified to Anoka County would have caused the total tax levy <br />to swing wildly with an increase of $275,000 in 2020. The City Council has taken the <br />opportunity this year to adjust several of the levies in a way that will provide for both full <br />funding of our bond issues and a gentle decrease in debt levies over the next 10 years. <br />That makes the levies more predictable for taxpayers. The staff proposal reduces the debt <br />levy by $47,273 for 2020. <br /> <br />Total Tax Levy Change <br /> <br />The total tax levy is the sum of the General Fund levy and the debt service levies. There <br />is an increase of $59,343 in the general levy, but that is partially offset by a decrease of <br />$47,273 in the debt service levies. The net effect of these changes is an increase of <br />$12,070 in the total tax levy. This translates into a 0.45% increase in the total tax levy <br />individual property tax estimates that were mailed by Anoka County. <br /> <br />This change is in total, but the property taxes are spread over many properties that have <br />experienced varied changes in value. Some properties may have increased faster than <br />others due to general market conditions, improvements made by the owners, or other <br />factors. Those properties may experience a smaller reduction or even an increase in their <br />city portion of the property tax that is unrelated to the general level of taxation that the <br />City Council is able to control. <br /> <br /> <br />Attachment: General Fund Budget Spreadsheet <br /> Resolution Adopting Final Property Tax Levy for 2020 <br /> <br /> <br />27 <br /> <br />