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l <br />REQUEST FOR COUNCIL ACTION <br />Department Approval <br />Item Description.- Annual Truth-in-Taxation Hearing <br />Date.- 12/1/08 <br />Item No..-Truth-in-Taxation <br />City Manager Approval <br />1 BACKGROUND <br />2 MN State Statute 275.065 requires all cities with a population of 500 or greater to hold a public hearing to <br />3 consider the following year's tax levy and budget. The purpose of this 'Truth-in-Taxation' (TNT) Hearing <br />4 is to provide an opportunity for the public to comment and make recommendations on the City's proposed <br />spending plan. <br />6 <br />"7 The TNT process involves up to three separate meetings as follows.- <br />9 1) The Initial Hearing is scheduled to allow City Officials an opportunity to present the proposed levy <br />and budget to the public and to hear public comment, questions and recommendations. The City may <br />hold the initial hearing on the night of a regularly scheduled meeting; however, the City should <br />12 convene the hearing and adjourn to conduct the regular council meeting <br />14 2) If the initial hearing is not sufficient for all public comment to be heard, a Continuation Hearing can <br />1 be held. Again, the City should convene the hearing and adjourn to conduct the regular council <br />16 meeting (if applicable) <br />1 ��7 <br />18 3), The official adoption of the final levy and budget must occur at the Subsequent Hearing. The <br />19 separation of the public comment hearings (initial and continuation), is intended to allow time for the <br />20 City Council to carefully consider and possibly incorporate the concerns or issues raised by taxpayers <br />2 1 <br />22 Tonight's meeting serves as the Initial Hearing. At the conclusion of the hearing, if no further discussion <br />23 is needed,, the City Council may waive the Continuation Hearing, and move forward to the Subsequent <br />24 Hearing scheduled for Monday, December 15, 2008, at which time the Council will adopt the Final 2009 <br />25 Tax Levy and Budget. <br />26 <br />27 At the TNT Hearing, City Officials are required to present an overview of the tax levy, budget, and budget <br />28 impact on taxpayers. In accordance with this requirement, Staff will make a brief presentation, and invite <br />29 all interested individuals to provide comments or questions. <br />30 <br />Page I of 2 <br />