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Department Approval: <br />��_ '�: �� <br />REQUEST FOR COUNCIL ACTION <br />Manager Approved: <br />Item Description: Adopt th� 2006 I-IRA Preliminary Tax Levy <br />Date: 9/12/2005 <br />Item No: 1(�, <br />Agenda Section: <br />�iti [�E� E� ��ic}-�.; <br />Introduction <br />State Statute requires all municipalities tllat have levy auihority over other governmental <br />agencies to adopt a preliminary tax levy for that agency by September 15`�� for the upcoming <br />fiscal year. �I,l�e Roseville HRA, while a separate legal entity, docs not have direct levy <br />authority. The City Council must adopt a levy using its authority along with a designation that <br />the f�mtij� go to tl�.e HRA. The Final 2006 HRA levy is scheduled to be adopted in December. <br />Once the preliminar.r�, i�pted it can be lowered, but ��ot increased. <br />At tl�e August 22, 2005 City Council meeting, representatives of the HRA presented their 2006 <br />Budget and Recommended tax levy. The recot��x�erlded levy amount is $288,895, an increase of <br />$130,895 fron� the current levy. <br />HRA Tax Impact <br />The followi��g table summarizes t11e estimated tax in�pact on residential homes, based on the <br />I-�RA's 2006 proposed tax levy, estimates provided by Kainsey County, a��d assuming no <br />increase in property valuation. <br />� � -.y�.L:�;i: � �, <br />� --- <br />i L�t�� Ull�Lf � � <br />C K 5.�{k0 - . .. � <br />� � ��,{�{Iti.� � <br />' 235.,O�Q_.. � .. ... — i n <br />* Note: Propea-ty valuations are deter�nined by � <br />� 1;. <br />�� <br />I� <br />. �] <br />Kamsey County Assessor's Office <br />�, <br />� <br />� <br />r <br />-�, . <br />: �. -ti <br />r �i . L rr� <br />��a. L 'fU <br />.-7�7 � f �I _ <br />,76.1- %°_ � <br />With the proposed HRA tax levy and estimated increases ii� the City's tax base, an average- <br />valued ho���e a'� $185,000 would 5u�; an inerease of $6 or 76.1% in tl�eir local property taxes. <br />Tl�is amoti�it is ind�pe�ldei3� of the impact that results �ro�� the City's tax levy. <br />Att�chments <br />a) Attachment A— HRA Proposed 2006 Tax Levy <br />b) Attachment B— HRA Resolution adopting their reco�llm�i-�ded Levy <br />Council Action Requested <br />Action #1: Motion to approve or amend the Resolution to adopt the HRA Proposed 2006 Tax <br />Levy <br />