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1J4��1'�l77=LiL r�E��,e�,�.�;�a: <br />�� .� .��r <br />REQUEST FOR COUNCIL ACTION <br />�;.Gn�{;�r .'���rr�����1: <br />- �. , r `� <br />Item Description: Adopt the 2006 HRA Final Tax Levy <br />� <br />Date: 12/19/2005 <br />Item No: 6.b <br />Agenda Section: <br />�1 af I� i�� rcarls <br />Introduction <br />State Statute requires all municipalities that have levy authority over other governmental <br />agencies to adopt a final tax levy for that agency by December 30�h for the upcoming fiscal year. <br />The Roseville HRA, while a separate legal entity, does not have direct levy authority. The City <br />Council must adopt a levy using its authority along with a designation that the funds go to the <br />HRA. The final levy amount must not exceed the preliminary levy that was established in <br />September. <br />At the August 22, 2005 City Council meeting, representatives of the HRA presented their 2006 <br />Budget and Recommended tax levy. The recommended levy amount is $288,895, an increase of <br />$130,895 from the current levy. <br />HRA Tax Impact <br />The following table summarizes the estimated tax impact on residential homes, based on the <br />HRA's 2006 proposed tax levy, estimates provided by Ramsey County, and a valuation increase <br />Of _ <br />I..`' _ _Y•y, .,�� <br />` Note: Property valuations are determined by the Ramsey County Assessor's Office <br />With the proposed HRA tax levy and estimated increases in the City's tax base, an average- <br />valued home of $185,000 would see an increase of $7 or 85.3% in their local property taxes. <br />This amount is independent of the impact that results from the City's tax levy. <br />Attachments <br />a) Attachment A— HRA Fina12006 Tax Levy <br />Council Action Requested <br />Action #1: Motion to approve or amend the Resolution to adopt the HRA Fina12006 Tax <br />Levy <br />