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REQUEST FOR COUNCIL ACTION <br /> Date: 9/09/13 <br /> Item No.: 12.b <br />Department Approval City Manager Approval <br />Item Description: Adopt the 2014 Preliminary HRA Tax Levy <br />B <br />ACKGROUND <br />1 <br />State Statute requires all municipalities that have levy authority over other governmental agencies to <br />2 <br />adopt a preliminary tax levy for that agency by September 15th for the upcoming fiscal year. The <br />3 <br />Roseville HRA, while a separate legal entity, does not have direct levy authority. The City Council <br />4 <br />must adopt a levy using its authority along with a designation that the funds go to the HRA. The Final <br />5 <br />2013 HRA levy is scheduled to be adopted in December. Once the preliminary levy is adopted it can <br />6 <br />be lowered, but not increased. <br />7 <br />8 <br />On August 13, 2013 the HRA formally adopted a resolution calling for a 2014 Recommended Tax Levy <br />9 <br />in the amount of $703,579, an increase of $5,108 or 0.7% over 2013. A copy of the resolution is <br />10 <br />included in Attachment B. <br />11 <br />12 <br />residential <br />The following table summarizes the estimated tax impact on homes, based on the HRA’s <br />13 <br />recommended 2014 tax levy, tax base estimates provided by Ramsey County, and assuming a 3.5% <br />14 <br />increase in property valuation – the expected amount for a median valued home in Roseville. <br />15 <br />16 <br />Estimated Tax Impact – Median Valued Home with a 3.5% Valuation Increase <br />17 <br />18 <br />Value of 20122013$ Increase % Increase <br />Home ActualEstimated(decrease) (decrease) <br />$ 150,075 $ 26$ 27$ 1 2.9 % <br />170,775 303112.9 % <br />194,994 343512.9 % <br />207,890 363712.9 % <br />226,789 394112.9 % <br />19 <br />20 <br />The amounts shown above are independent of the impact that results from the City’s tax levy. <br />21 <br />22 <br />Page 1 of 3 <br /> <br />