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REQUEST FOR COUNCIL ACTION <br />Date: 9/12/2005 <br />�i�� �T+�: <br />�...._ . �. <br />D� �ir�n:��� .� 7XO����. C��lan.���.r_�1 +�c�ti'�ri: A�cn�a 4�::ti��n: <br />-�--- — �--- - . —......_...— •-- �•-•---•• —•--•-- .._. ... ,�..__. _. . . ... _.— <br />_,� �� <br />Item Description: Adopt I]�Y 2006 I IRA Preliminary Tax Levy <br />i!I -.. , ......___ T _. _. .. '_' .. . ... ' "' ' __"_ <br />��ai�±� �c�rt� <br />Introduction <br />State Statute requires a�l municipalities tl�at have tevy a��tho�zty over other governmental <br />agencies to adopt a preliminary tax levy for that agency by September I S`�' for the upcoming <br />fiscal year. The Roseville HRA, while a separate legal entity, docs not have direct levy <br />authority. The City Council must adopt a levy �azng its authority along with a designation that <br />the � go to �lsr H�. The Final 2006 HRA levy is scheduled to be adopted in December. <br />Once the nretiminarv l�v�r is ado�ted it can be lowered; but not increased. <br />At the August 22, 2005 City Council meeting, representatives of the HRA presented their 2006 <br />Budget and Recommended tax levy. The reco�n��ended levy amount is $288,895, an increase of <br />$130,895 from the current levy. <br />H�. Tax Impact <br />The following table summarizes the estimated tax impact on residential homes, based on the <br />I�'� 2006 proposed tax levy, estimates provided by Ra�ns�y County, a��d assuani�� no <br />increase in property valuation. <br />.� - �. ; .�;> � <br />--4 - -- - <br />. ��'.,��: <br />E �� r;�p�. <br />--'�i�?.�I�Ir,.-- -- <br />.�:�.3.d��.._ <br />�C: Fr#�Grti'; 1'�:4�+1iC:7�;fc�C <br />:_ , � <br />� <br />_. . � � _.. .. . -- - <br />� <br />t�s <br />�� <br />er] �y khC R }m�y �nunly .�si��sso�� <br />k i _ ..y. <br />.. � -�Rt '�� <br />�•' �,•� � <br />--w� <br />'� ��� � *�'� ' <br />"�i.� `�a.� <br />With the proposed HRA tax levy and estimated increases in the City's tax base, an av�ra�;e-- <br />valued l�oz��e cf $185,000 would see an increase of $6 or 76.1% in tlaeir local property taxes. <br />This ��rzcatuzt is indc�ci�.dci�t of the impact that results from the City's tax levy. <br />Attachments <br />a) Attachment A— HRA Proposed 2006 Tax Levy <br />b) Attachment B—���tA. Resolution adopting their reeo�3�z���ac��d 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 />