HomeMy WebLinkAboutItem 08d
Date December 19, 2011 Item No.
Resolution Adopting the 2012 Tax Levy
Proposed Action
Staff recommends adoption of the following motion: Move to approve the Resolution Adopting
the 2 012 Tax Levy
Approval of the Resolution will result in adoption of the 2012 tax levy.
Overview
The City Council approved the preliminary 2012 tax levy on September 6. Property owners
received their Truth in Taxation notice based on the preliminary levy on or about the second
week of November. The proposed tax levy and budgets were presented and discussed at the
Truth in Taxation hearing on December 5. The attached Resolution is consistent with
presentation at the December 5 Truth in Taxation hearing.
Primary Issues to Consider
o Tax Levy. The 2012 tax levy is $249,610 less than the preliminary 2012 tax levy approved
on September 5 and $909,692 less than the 2011 tax levy.
Supporting Information
Dennis Feller, Fina e Director
Financial Impact: $23,126,960 budgeted: Yes Source: _ Various funds
Related Documents (CIP, ERP, etc.):
Notes:
CITY OF LAKEVILLE
RESOLUTION No.
RESOLUTION ADOPTING THE 2012 TAX LEVY
BE IT RESOLVED by the City Council of the City of Lakeville, Minnesota that the
following 2012 tax levy is hereby approved and adopted.
Total
General Fund
$ 16,164,967
Public Works Reserve - Pavement Mgmt.
1,248,588
Equipment Fund
692,382
Debt Service
Park Bonds 2003B
408,154
Capital Improvement Bonds 2004A
883,000
Ice Arena Lease Revenue Bonds 2006
281,033
Capital Improvement Bonds 2007D
961,196
G. O. Improvement Bonds 2009
367,982
G. 0 F., i] 011
provemen L Bonds s 2v
1
32J,0
Street Reconstruction Bonds 2003A
1,027,791
Street Reconstruction Bonds 2005A
182,039
Street Reconstruction Bonds 2007H
231,044
Street Reconstruction Bonds 2009A
357,770
Total
$ 23,126,960
APPROVED AND ADOPTED this 19"' day of December 2011 by the City Council of
the City of Lakeville, Minnesota.
CITY OF LAKEVILLE, MINNESOTA
By:
ATTEST:
Mark Bellows, Mayor
Charlene Friedges, City Clerk