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REQUEST FOR COUNCIL ACTION <br /> Date: June 20, 2022 <br /> Item No.: 7.e <br />Department Approval City Manager Approval <br />Item Description: Review 2023 Changes in Property Tax Base, Legislative Changes and discussion <br />on City Council 2023 Budget Goals <br /> <br />1 B ACKGROUND <br />2 At the April 18, 2022 City Council meeting, the Council established a general timeline for the 2023 <br />3 budget process including the following key dates: <br />4 <br />2023 Budget Process TimelineDate <br />Discussion on Preliminary Cash Reserve Levels3/14/2022 <br />Establish 2023 Budget Process Calendar4/25/2022 <br />Discussion on 2022-2023 City Council Priorities & any Legislative Impacts6/20/2022 <br />Presentation of the 2023-2042 Capital Improvement Plan7/18/2022 <br />EDA Budget & Tax Levy Discussion7/18/2022 <br />Receive the 2023 City Manager Recommended Budget to inlcude-8/22/2022 <br /> Tax Base Changes <br />Receive Budget Recommendations from the Finance Commission9/19/2022 <br />Adopt Preliminary 2023 Budget, Tax Levy, & EDA Levy9/26/2022 <br />Review 2023 Proposed Utility Rates11/7/2022 <br />Review 2023 Fee Schedule11/7/2022 <br />Final Budget Hearing (Truth-in-Taxation Hearing)11/28/2022 <br />Adopt Final 2023 EDA Tax Levy12/5/2022 <br />Adopt Final 2023 Budget, Tax Levy, Utility Rates, & Fee Schedule12/5/2022 <br />5 <br />6 <br />7 The next step in the 2023 Budget Process is to review the general budgetary impacts resulting from <br />8 changes in the City’s property values, the 2022 Legislative Session, and other contributing factors. They <br />9 are discussed in separate sections below. <br />10 <br />11 Impacts Due to Changes in Property Values & Tax Base <br />12 The Ramsey County Assessor’s Office posted itsannual Report on Assessed Market Valuations to their <br />13 website in April 2022. It is an interactive website and they are no longer issuing a printable report. <br />14 Highlights of the Report are shown in the following chart: <br />15 <br />Page 1 of 4 <br /> <br />