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REQU'EST'FOR COUNCIL ACTION Date: 10/09/83
<br />Item No .
<br />0
<br />Department Approval: Manager, Reviewed Agenda Section
<br />Hearings
<br />1p M
<br />AV% dMW
<br />01
<br />1tem DescrxpltAon: Contl ingi The Ptibl., x0c P&W-UR on Pmposed
<br />Tim I[AILNV7,
<br />Due to tihe change G in the Property Tax, Law passed by the special
<br />siession, of the Lieg,lslature, the public hearing set for October •
<br />1989,, will need, to, ble continued until a future date as scheduleffl
<br />w,1th the, County Auditor, At that time a hearing will be held on
<br />a proposed levy,, which must be filed with, the County Auditor on
<br />or before November 15, 1989,9
<br />The State Revenue Department has established the following ne
<br />-fates for implementing the new tax proposal and to comply wit
<br />the 'Truth in 'Taxation:
<br />1,111,ctiober 23 Cities *Iwil,l, be notiflied, as to the new property ta.
<br />levy limits,,.
<br />November 15 - CiltileB, MUBit file a new proposed levy to the Count
<br />Audi' tor
<br />To be City will, hold the Public Hearing on the proposed
<br />[Cetermi III ed levy
<br />December 28 - Cities must file their final 1990 property tax
<br />levy
<br />V a
<br />Prell,iminary estimates cate a shift of approximately
<br />I "d, to the schools from the City of Rose�
<br />$11,450,,000 in, state al
<br />vil,le. In,exchang,e, the City's levy, will rise by approximately
<br />the $1,450,000, thus holding the property taxpayer harmless jLn
<br />this s7tift-
<br />The City will not, know the exact amiounti until the State notiefica-
<br />tion, is recei-vied. on October 23, 1989#
<br />The spelicific date of the public hearing will be established with
<br />the Council, and, publisilhed. as soon as the County Auditor notifies
<br />the City of the dates available.
<br />Any additional IlLnformation will, be made available to the Council
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