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Rls�kspvlffi� <br />REQUEST FOR COUNCIL ACTION <br />Department Approval <br />x .n.e4 <br />Item Description: Adopt the 2009 Final HRA Tax Levy <br />Date: 12/15/08 <br />Item No.: 13.c <br />City Manager Approval <br />BACKGROUND <br />State Statute requires all municipalities that have levy authority over other governmental agencies to adopt <br />a final tax levy for that agency by December 30th for the upcoming fiscal year. The Roseville HRA, while a <br />separate legal entity, does not have direct levy authority. The City Council must adopt a levy using its <br />authority along with a designation that the funds go to the HRA. The final levy amount must not exceed <br />the preliminary levy that was established in September. <br />On September 15, 2008, the Council adopted a preliminary 2009 HRA levy of $355,000; an amount <br />supported by the HRA at that time. on November 18, 2008 the HRA adopted a new resolution asking for a <br />revised 2009 levy of $308,000. <br />Representatives of the HRA will be in attendance to speak to the request. <br />The following table summarizes the estimated tax impact on residential homes, based on the HRA's <br />recommended 2009 tax levy, estimates provided by Ramsey County, and assuming no increase in property <br />valliatinn _ <br />Value of <br />Home <br />$175,000 <br />2008 <br />Actual <br />$13 <br />2009 <br />Estimated <br />$11 <br />$ Increase <br />(decrease) <br />$(2) <br />% Increase <br />(15.8 ) % <br />200,000 <br />15 <br />12 <br />(2) <br />(15.8) % <br />235,000 <br />17 <br />14 <br />(2) <br />(15.8) % <br />275,000 <br />20 <br />17 <br />(2) <br />(15.8) % <br />300,000 <br />22 <br />15 <br />(2)1 <br />(15.5} <br />The amounts shown above are independent of the impact that results from the City's tax levy. <br />POLICY OBJECTIVE <br />Adopting a final HRA tax levy is required under Mn State Statutes in order to make it effective the <br />Page 1 of 4 <br />