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<br />REQUEST FOR COUNCIL ACTION <br />Date: 6/17/2024 <br />Item No.: 9.f. <br />Department Approval City Manager Approval <br /> <br /> <br />Item Description: Review 2025 Property Tax Base changes, Legislative changes and <br />discuss City Council 2025 Budget Goals <br />1 <br />2 Background <br />3 At the February 12, 2024, City Council meeting, the Council established a general timeline <br />4 for the 2025 budget process including the following key dates: <br />5 <br />6 <br />7 <br />8 The next step in the 2025 Budget Process is to review the general budgetary impacts <br />9 resulting from changes in the City’s property values, the 2024 Legislative Session, and <br />10 other contributing factors. They are discussed in separate sections below. <br />11 <br />12 Impacts Due to Changes in Property Values & Tax Base <br />13 The Ramsey County Assessor’s Office posted its annual Report on Assessed Market <br />14 Valuations to their website in April 2024. It is an interactive website, and they are no longer <br />15 issuing a printable report. Highlights of the Report are shown in the following chart: <br />16 <br />Page 1 of 4 <br />Qbhf!227!pg!331 <br /> <br />