CCP 12052022 - Laserfiche WebLink

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19 Since September 26, the City Manager has made revisions to decrease the tax levy for the final adoption 20 on December 5, 2022. These revisions have included the following: 21 Removed $30,000 for Recreation Assessment (will be deferred until2024) 22 Increased State Aid Intergovernmental Revenues by $20,000 23 Removed $10,000 increase in Finance Equipment Fund 24 Reduced $4,000 in Fire Department (Telephone and Emergency Management Training) 25 Reduced $5,000 in Administration Miscellaneous expenses 26 Reduced $10,000 in Attorney professional services costs 27 Reduced $25,500 in Public Works Administration (reduced intern and adjusted for new PW 28 Director) 29 30 The city tax levy is now at $26,411,384, an increase of $1,545,840 or 6.22% over last year.The City 31 Council is asked to adopt a final tax levy by resolution for 2023 (Attachment A and Attachment B). 32 33 A median-valued single-family home of $335,400 will pay approximately $1,211 annually in property 34 taxes or $100.90 per month. This is an increase of $108annually ($9.00 per month).In exchange, 35 residents receive; 24 x 7 x 365 police and fire protection, well-maintained streets and parks, street lighting, 36 and other services. 37 38 The following table describes the different factors resulting in the increase in the 2023city tax levy. A 39 summary of the recommended 2023 budget is included is in included as Attachment E.: 40 41 42 43 The recommended 2023 budget is $61,327,870, an increase of 4.6% from the previous year. The City 44 Council is asked to adopt the 2023 budget as outlined in the resolution as Attachment C. 45 46 On September 26, the City Council adopted a preliminary, not-to-exceed Economic Development 47 Authority (EDA) levy of $411,505. The Council is now asked to adopt a final EDA levy by resolution to 48 authorize it for 2023. The resolution is included as Attachment D. 49 50 Page 2of 3