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CITY OF GEM LADE, MN <br />41A4200 Otter Lake Road _ <br />Gem. Lake; Minnesota 55110 <br />Date: November 17, 2017 <br />To Mayor and City Council Members <br />From: Tom Kelly, City Treasurer <br />RE: Proposed 2018 Budget and Property Tax Levy. <br />The. City Council is asked to approve (pass) Resolution 2017-20, Adopting the Final 201.8. General <br />Fund Budget and Property Tax Levy, The 2018 Budget is proposed at $423,247, which is a 0.78% o <br />increase over the 2.017:Budget. Major or.large changes from th.e 20.17 Budget to the 2018 Budget <br />are as follows`. <br />■ Legal services was increased from $22,000 to $42,500 based on current legal activities with <br />land issues. <br />• The budget to complete the City's Comprehensive.Plan remains at $73,000. <br />• The Police budget was reduced to. $64,100 compared to $112,58.1in 2017.based on the <br />contract witli the City of White Bear Lake.. <br />• The City's fire contract with the.Cityof White Bear Lake was increased 3.35.% to 17,05.0. <br />• Building Inspections was. increased. $3.,150 based on past expenditures and possible new <br />property development activities.. <br />• $20,000 was added to the budget to help fund future improvement projects. <br />• The.City's fiscal disparities revenue is.projected to increase 50:6% to $9,953. <br />• Based on the proposed 2018 expenditures and otherrevenues, to maintain. a.balanced budget <br />the 2018 property tax levy is proposed to increase 1.64% to 369,252. <br />• The City's Debt Levy is based on the bond payments due in 2018. The Debt Levy is being <br />increased. $8,412 to $84,399... <br />Based on the changes listed above the City'.s proposed 2018 property tax levy would $453,651, <br />which consists of the following: <br />General Fund levy $369,252 <br />Fiscal Disparities 9953 <br />Total General Fund Levy 3.79,2.05 <br />Delft Levy 8,4399 <br />Total City Levy $453,651 <br />The total City levy is proposed to increase 127%u. The other piece to the tax. levy puzzle is the <br />City's tax capacity, which increased 7.18% to $1:,128,008. In addition, the median home value <br />increase from $246,900 to $262,850. Based on these increased tax capacities and the City's <br />proposed tax levy, the median valued home would: have a City property tax increase of $15.95. <br />Look -for its on the World Wide Web -at gemiatketnn:org <br />