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10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />M <br />I <br />19 <br />20 <br />q4&o,,,SPAL+zE <br />REQUEST FOR COUNCIL ACTION <br />Department Approval <br />e,44 'e. /4-e4 <br />Item Description: Consider Adopting the 2014 Final HRA Tax Levy <br />Date: 12/09/13 <br />Item No.: 12.b <br />City Manager Approval <br />BACKGROUND <br />State Statute requires all municipalities that have levy authority over other governmental agencies to <br />adopt a preliminary tax levy for that agency by September 15th for the upcoming fiscal year. The <br />Roseville HRA, while a separate legal entity, does not have direct levy authority. The City Council <br />must adopt a levy using its authority along with a designation that the funds go to the HRA. <br />On August 13, 2013, the HRA formally adopted a resolution calling for a 2014 Recommended Tax <br />Levy in the amount of $703,579, an increase of $5,108 or 0.7% over 2013. A copy of the resolution is <br />included in Attachment B. <br />The following table summarizes the estimated tax impact on residential homes, based on the HRA's <br />recommended 2014 tax levy, tax base estimates provided by Ramsey County, and assuming a 3.5% <br />increase in property valuation — the expected amount for a median valued home in Roseville. <br />Estimated Tax Impact — Median Valued Home with a 3.5% Valuation Increase <br />Value of 2012 2013 S Increase % Increase, <br />V 111 �/ � <br />-a- -a- <br />$ 150,075 <br />A. -W �/ r K K 1 � <br />$ 26 <br />�I IJ 1111 K W r �f <br />$ 27 <br />\ �f �/ r 1 %V K IJ \/1 <br />$ 1 <br />\ %.W �/ �/ 1 �/ �; IJ \/1 <br />2.9 <br />170,775 <br />30 <br />31 <br />1 <br />2.9% <br />194,994 <br />34 <br />35 <br />1 <br />2.9% <br />207,890 <br />36 <br />37 <br />1 <br />2.9% <br />226,789 <br />39 <br />41 <br />1 <br />2.9% <br />The amounts shown above are independent of the impact that results from the City's tax levy. <br />Page 1 of 2 <br />