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Department Approval: ( C�� REQUEST FOR COUNCIL ACTION Manager Approved: Date: 10/21/2�2 Item No: Xi, H. Agenda Section: �� Consent Item Description: Establishing the 2002 Truth-in Taxation Hearings Background Minnesota State Statute 275.065 requires all cities with a population of 500 or greater to hold a public hearing to consider the following year's tax levy and budget. The purpose of this "Truth- in-Taxation" Hearing (TNT Hearing) is to provide an opportunity for the public to comment and make recommendations on the City's spending decisions. The TNT process involves up to three separate meetings, and is as follows: 1) The Initial Hearing is provided to allow City Officials to present the proposed levy and budget to the public and to hear public comment, questions and recommendations. The City may hold the initial hearing on the night of a regularly scheduled meeting; however, the City should convene the hearing and adjourn to conduct the regular council meeting. 2) If the initial hearing is not sufficient for all public comment and further discussion is warranted, a Continuation Hearing can be held. Again, the City should convene the hearing and adjourn to conduct the regular council meeting (if applicable). 3) The official adoption of the final levy and budget must occur at the Subsequent Hearing. The separation of the public comment hearings (initial and continuation) is intended to allow time for the City Council to carefully consider and possibly incorporate the concerns or issues raised by taxpayers. In an effort to avoid any scheduling conflicts with similar hearing requirements for other taxing jurisdictions, the Legislature has reserved two dates for cities to schedule hearings. They include Monday, December 2, 2002; and Monday, December 9, 2002. Recommendation Staff recommends setting the following dates for the 2002 Truth-in-Taxation Hearings: ❑ An Initial Hearing date of Monday, December 2, 2002. ❑ A Continuation Hearing date of Monday, December 9, 2002 (if needed) ❑ A Subsequent Hearing date of Monday, December 16, 2002