2002_0909_packet - Laserfiche WebLink

Home

Date: 09/09/02 Item: I. � � � , � Memo To: Mayor and Council �Yom: Chris Miller, Finance Director; Neal Beets, City Manager Date: August 6, 2002 Re: Supplemental Discussion of the Proposed 2003 Tax Levy and Budget Background Let's begin by stepping back and reviewing where we've been and what the Council has done. To begin with, the preliminary budget levy proposed by staff and approved by the Council on August 19 fully complies with law. Next, the Council's August 19 budget levy resolution is accurate. All the numbers are right and the math is correct. Thus, the August 19 Council levy resolution sets a lawful and accurate not-to-exceed maximum levy amount of $9,070,055. This levy is 1.65% higher than the city's 2002's levy amount of $8,922,884. As staff has shown, Roseville's t� base has grown. It has grown because more businesses and homeowners call Roseville home. It has grown because the City Council decertified some TIF districts, thus bringing those properties back on the general tax rolls. Consequently, under staff's proposal and under the City Council's August 19 budget resolution, even though the levy amount increases a little, the taxes Roseville residents and business owners will actually pay to the City will DECREASE from 7-15%. The taxes Roseville property owners pay to the city will DECREASE 15% if the Ramsey County Assessor does not increase Roseville property values for tax purposes. Roseville taxes will DECREASE 7% even if the Ramsey County Assessor increases Roseville property values for t� purposes. This DECREASE of 7% to 15% in Roseville taxes is due to the Council's good work in growing Roseville's tax base and holding the line on spending. Roseville's tax base is growing faster than Roseville's tax levy.