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wwko-w SH" <br /> REQUEST FOR COUNCIL ACTION <br /> Date: 12/05/11 <br /> Item No.: 12 . c <br /> Department Approval City Manager Approval <br /> a <br /> Item Description: Adopt the 2012 Final FIRA Tax Levy <br /> BACKGROUND <br /> State Statute requires all municipalities that have levy authority over other governmental agencies to adopt <br /> 3 a final tax levy for that agency by December 3 0th for the upcoming fiscal year. The Roseville IRA,while <br /> 4 a separate legal entity, does not have direct levy authority. The City Council must adopt a levy using its <br /> 5 authority along with a designation that the funds go to the IRA. <br /> 6 <br /> 7 On June 21,2011,the I RA adopted a resolution calling for a 2012 Recommended Tax Levy in the amount <br /> 8 of$353,500, the same levy as 2011 and 2010. A copy of the resolution is attached. <br /> 9 <br /> '10 The following table summarizes the estimated tax impact on residential homes, based on the IRA's <br /> recommended 2012 tax levy, estimates provided by Ramsey County, and assuming no change in property <br /> 1 d? valuation. <br /> '1 <br /> '14 <br /> Value of 2011 2012 $ Increase Increase <br /> Home Actual Estimated (decrease) (decrease) <br /> $ 1751000 $ 14 $ 14 $ - 0 % <br /> 2001000 16 16 - 0 % <br /> 2351000 18 18 - 0 % <br /> 2751000 21 21 - 0 % <br /> 3001000 23 23 - 0 % <br /> '1 5 <br /> '1 6 <br /> 17 The amounts shown above are independent of the impact that results from the City's tax levy. <br /> '18 <br /> Pagel of 3 <br />