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REQUEST FOR COUNCIL ACTION Date:08/28/00 Item No.: H-1 Department A proval: Manager Reviewed Agenda Section ' Hearings C:: k d Item Description: 2001 Proposed Property Tax Levy, Budget, and Hearing Dates Background The city staff,under the direction of the Council, has prepared a proposed 2001 Annual Budget and property tax levy. As part of the budget process, -the City Council must establish dates for the taxation hearings. The recommended dates for the tax hearings would be the Public Hearing, December 4 2000, with a continuation hearing, if needed, scheduled for December 11.2000. An adoption hearing would be scheduled for December 18.2000 or if the continuation hearing was not needed on December 11, 2000,the adoption could take place on that date. Proposed Dates Summary • Initial Hearing Date December 4, 2000 • Continuation Date (If needed) December 11 132000 • Adoption Hearing Decemberl8, 2000 • Adoption Hearing (If Continuation Date is not needed) Decemberl 1, 2000 Fiscal Summary The proposed tax levy for 2001 is $6,897,499 an increase of$496,612 or a 7.76% increase as compared to 2000. The levy is based on a total proposed 2001 budget of$37,699,053,an increase of$3,689,803 or a 10.85% over 2000. COUNCIL ACTION REQUESTED Motion approving the proposed budget resolution for 2001 in amount of$37,699,053. Motion approving the proposed tax levy of$6,897,499 for 2001. Motion approving the proposed resolution for change in debt levy. Motion approving the proposed Truth-in-Taxation dates resolution.