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<br />REQUEST FOR COUNCIL ACTION <br />Date: 11/25/2024 <br />Item No.: 7.a. <br />Department Approval City Manager Approval <br /> <br /> <br />Item Description: Public Hearing to Solicit Comment on the 2025 Budget and Tax Levy <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 City Council is now asked to hold the final budget hearing. The purpose of the hearing <br />9 is to provide residents with an opportunity to provide input on city programs and the budget <br />10 and to gauge their willingness to pay additional property taxes and fees in order to maintain <br />11 programs at current service levels. The City Council can then use this input to help guide <br />12 the setting of a final tax levy and budget. <br />13 <br />14 At the September 23, 2024, City Council meeting, the Council adopted a 2025 preliminary, <br />15 not-to-exceed tax levy and a preliminary budget. A summary is presented below. <br />16 <br />17 2025 Preliminary Tax Levy & Budget <br />18 The 2025 Preliminary Budget & Tax Levy approved September 23, 2024, called for a city <br />19 tax levy of $30,352,603, an increase of $1,567,323 or 5.44% over last year. That is the <br />20 current recommendation for the final city 2025 tax levy. The EDA levy of $364,856 is the <br />Page 1 of 3 <br />Qbhf!9!pg!745 <br /> <br />