5.2. & 5.3. SR 09-11-2006
City of Elk River
REQUEST FOR COUNCIL ACTION
Agenda Section Meeting Date
\\1 arksessian Se tember 11, 2006
Item Description
2007 Bud et and Tax Lev"v
Item Number
5.2. & 5.3.
Prepared by
Lori ollnson, City Administrator
Reviewed by
Introduction
Tile proposed tax lev-y for tlle city and tlle le\Ties for tlle ED.l\ and HRi\ must be c;~rti.fied to the county
no later tllan September 15. TIle resolutions adopting tllese levies are before tlle Council for
consideration. The Council must also set tlle date and time for tlle Trutll-in-Taxation and continuation
l1earings.
Discussion
J.\t tlle last t\va Council meetings, tlle Council revie\ved the General Fund budget and 2007 tax lev.y. The
Council pro\Tided input on ne\v elnployee requests, capital outlay, tax rev"enue, transfers to other funds,
and tlle ov"erall budget.
TIle proposed budget assulned tax rev"enue based on a net tax capacity (NTC) increase of eigllt percent.
TIle County ..t\ssessor's prelimina117 estllnate \vas for an increase of bet\veen eigllt and nine percent. No\v
tllat tlle actual calculations Ilave been made to apply class rates to lnarket \ralue, tlle re\Tised NTC increase
is 12.9 percent. .L\s al\\lays, tlle NTC \villlikely drop sligIlrly before tlle final tax rate is calculated due to
abatements, tax forfeitures, late llo1nesteads, and clerical corrections. Historical information on property
\ralue, le\)" and tax rate data is attacIled. Last year's NTC increase \.vas 14.85 percent. Ne\v constluction
accounted for 8.77 percent of tlle NTC increase for taxes payable in 2007. Ne\v consttuction market
v"alue decreased 17.43 percent from 2006.
Tile proposed General Fund budget \vas $11,342,050. TillS is an increase of sev"en percent o'ver tlle 2006
budget. Ho\ve\'er, as \ve discussed, it did not include se\Teral expenditure requests. i\fter rev"ie\Vmg the
General Fund budget and tlle expenditure requests not included in the proposed budget, tlle Council
lnade tlle follo\v.ing cllanges:
. Fund RS\Tp request
. Reduce Council Contingency
. Pay Plan Implementation (estimate)
. Police Sofnvare (estitnate for first year)
Net Cllange
+ 5,000
- 27,600
+ 75,000
+60.000
$112,400
Tile tax re\Tenue \vas not adjusted during budget discussions because tile Council had not determined the
proposed tax le"v"y. The proposed budget \"vill be adjusted accordingly after tile tax levy is determined. If
dle levy is based on an eigllt or nine percent increase, a combination of revenue increases and expenditure
cuts \~vill need to be made to fund tlle changes noted above. If tlle le\TY is based on a ten percent increase,
some additional capital ouday may be funded d1Iough tlle General Fund. Tile current proposal calls for
S:\Council\Lori\2006\Levy t\temo Sept l1.doc
$479,900 of capital outlay to be funded \Vitll equipment certificates. IVlore detail on the amount of
additional tax rev'enue based on 'various NTC increases is attached.
Attachments
. Prelitninary Le'v-y and Tax Rate Data
. History of Property \1 alue and Property Tax Data
. Resolution .L~uthorizing the Proposed Property Tax Levy for Collection in 2007 (Fi\re resolutions
based on increases in net tax capacity of eigllt, nine, ten, eleven, and t\vel\re percent and one
resolution based on Sherburne County's estimated increase of 12.9 percent.)
. Resolution i\pprO\Ting tile Housing and Redevelopment .L~uthority 2007 Tax Le-v'y
. Resolution .t\.ppro\Ting the 2007 Tax Lev)T for tlle Economic De\Telopment purposes for tIle Elk
Ri~ler Economic De\TeIoplnent .L'\utllority.
. Proposed Sources of Re\Tenue Surmnary (based on eigIlt percent NTC increase)
. Proposed .L~ppropriations SUlrunal1T (Does not include changes noted abo\ie. TIllS \vill be re\Tised
for the TNT 11earing based on tlle cllanges resulting.from tlle proposed tax levy appro\Ted on
Septelnber 11.)
The proposed budget \vas distributed \'vith tlle September 5 packet. If you need anotller copy, please
contact City Hall.
Action Requested
.L~dopt tlle follo\ving resolutions:
. Resolution .L'\utllOl1.Zing tlle Proposed Property Tax Lev'y for Collection in 2007.
. Resolution .L~pproving tlle Housing and Rede'velopment .L~udlority 2007 Tax Levy
. Resolution j\pprov'ing the 2007 Tax Levy for dle Economic De\Telopment Purposes for tlle Elk
River Econolmc De\Telopment j\.uthority.
By 1:1otion, set tlle Tludl-in-Taxation Ilearing for Iv1onday, December 4, 2006, at 6:30 \vidl tlle
continuation hearing for Ivlonday, Decelnber 11, 2006, at 6:30.
Council Action
l\fotion by _
Second by
\Tote
Follow Up
S:\Council\Lori\200G\Levy {"lemo Sept l1.doc
PRELIMINARY LEVY AND TAX RATE DATA
(Based on estimated NTC)
FOR TAXES PAYABLE 2007
General Fund
Library
Surface Water Mgmt.
City Special Assessments
1994 Storm Sewer Bonds
2005 Improvement Bonds
2005 Certificate of Indebtedness
Capital Equipment
Fire Pumper
2006 Certificate of Indebtedness
2007 Certificate of Indebtedness
Public Safety Lease Rev. Bonds
Economic Development Tax Abatement
Final NTC -March 2006
NTC
20,085,784
Levy
8,823,793
80/0 NTC Increase
Proposed Levy 21,692,647 9,493,353
2005 Tax Rate 21,692,647 9,493,353
g% NTC Increase
Proposed Levy 21,893,505 9,493,353
2005 Tax Rate 21 ,893,505 9,581,254
1 00/0 NTC Increase
Proposed Levy 22,094,362 9,493,353
2005 Tax Rate 22,094,362 9,669,156
11 % NTC Increase
Proposed Levy 22,295,220 9,493,353
2005 Tax Rate 22,295,220 9,794,410
120/0 NTC Increase
Proposed Levy 22,496,078 9,493,353
2005 Tax Rate 22,496,078 9,882,648
Net
Levy
$ 7,999,328
150,000
100,000
19,255
117,716
85,900
161,335
84,719
120,00.0
634,359
20,741
$ 9,493,353
Tax Rate
43.931 OA>
Additional
Avail. For
General Fund
Tax Levy
Increase over
2006
General Fund
T ax Lev,,~
.,
(0)
778,828
43.7630A>
43.763010
43.362%
43.763%
87,901
866,729
954,631
1,079,885
1 ,168,123
42.9670/0
43.7630/0 175,803
42.580%
43.931 % 301,057
42.200%
43.931% 389,295
9/7 /2006
Tax Levy.xls
History of Property Value and Property Tax Data
Estimated
Taxes Payable Year 2005 2006 2007
Net Tax Capacity 18,075,790 20,760,833 221690,483
Percent Change 15.850/0 14.850/0 12.970/0
Market Value 1,538,113,450 1,786,411,900 2,013,665,600
Percent Change 17.36% 16.410/0 12.720/0
New Construction Market Value n/a 120,179,O~4. 99,2351200
(Real and Personal) -17.430/0
Percent Total Market Value Increase Due to
New Construction n/a n/a 8.770/0
Tax Levy 7,623,985 8,823,793 to be determined
Percent Change 16.130/0 15.74OIb
Elk River Tax Rate 43.7630/0 43.9290/0
Total Tax Rate excluding School MV Levy and
State Tax 123.9880/0 128.1070/0
9/7/2006
RESOLUTION 06 -
A RESOLUTION FOR THE CITY OF ELK RIVER
A RESOLUTION AUTHORIZING THE PROPOSED PROPERTY TAX LEVY
FOR COLLECTION IN 2007
WHEREAS, the Elk River City Council has reviewed the City's anticipated
expenditures for all funds in 2007; and,
WHEREAS, the Elk River City Council has considered projected revenues for
all funds in 2007; and,
WHEREAS, revenues from sources other than property taxes are not sufficient
to meet anticipated expenditures of all funds; and,
WHEREAS, debt levies have been adjusted or cancelled based on revenue
collections and projections.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk River that
the following amounts are the maximum to be levied as property taxes
payable in 2007:
General Fund
Library
Surface Water Management
City Special Assessments
1994 Storm Sewer Bonds
2005 Improvement Bonds
2007 Certificate of Indebtedness
2006 Certificate of Indebtedness
2005 Certificate of Indebtedness
Public Safety Lease Revenue Bonds
Economic Development Tax Abatement
TOTAL
Levy
$ 7,999,328
150,000
100,000
19,255
117,716
85,900
120,000
84,719
161,335
634,359
20,741
$ 9,493,353
Passed and adopted by the City Council of the City of Elk River this 11 th
day of September, 2006.
Larry Farber, Acting Mayor
ATTEST:
Joan Schmidt, City Clerk
2007 Nlax Levy Resal 8%
RESOLUTION 06 -
A RESOLUTION FOR THE CITY OF ELK RIVER
A RESOLUTION AUTHORIZING THE PROPOSED PROPERTY TAX LEVY
FOR COLLECTION IN 2007
WHEREAS, the Elk River City Council has reviewed the City's anticipated
expenditures for all funds in 2007; and,
WHEREAS, the Elk River City Council has considered projected revenues for
all funds in 2007; and,
WHEREAS, revenues from sources other than property taxes are not sufficfent
to meet anticipated expenditures of all funds; and,
WHEREAS; debt levies have been adjusted or cancelled based on revenue
collections and projections.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk River that
the following amounts are the maximum to be levied as property taxes
payable in 2007:
General Fund
Library
Surface Water Management
City Special Assessments
1994 Storm Sewer Bonds
2005 Improvement Bonds
2007 Certificate of Indebtedness
2006 Certificate of Indebtedness
2005 Certificate of Indebtedness
Public Safety Lease Revenue Bonds
Economic Development Tax Abatement
TOTAL
Levy
$ 8,087,229
150,000
100,000
19,255
117,716
85,900
120,000
84,71 9
161,335
634,359
20,741
$ 9,581,254
Passed and adopted by the City Council of the City of Elk River this 11 th
day of September, 2006.
Larry Farber, Acting Mayor
ATTEST:
Joan Schmidt, City Clerk
2007 lVIax Levy 9%
RESOLUTION 06 -
A RESOLUTION FOR THE CITY OF ELK RIVER
A RESOLUTION AUTHORIZING THE PROPOSED PROPERTY TAX LEVY
FOR COLLECTION IN 2007
WHEREAS, the Elk River City Council has reviewed the City's anticipated
expenditures for all funds in 2007; and,
WHEREAS, the Elk River City Council has considered projected revenues for
all funds in 2007; and,
WHEREAS, revenues from sources other than property taxes are not sufficient
to meet anticipated expenditures of all funds; and,
WHEREAS; debt levies have been adjusted or cancelled based on revenue
collections and projections.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk River that
the following amounts are the maximum to be levied as property taxes
payable in 2007:
General Fund
Library
Surface Water Management
City Special Assessments
1994 Storm Sewer Bonds
2005 Improvement Bonds
2007 Certificate of Indebtedness
2006 Certificate of Indebtedness
2005 Certificate of Indebtedness
Public Safety Lease Revenue Bonds
Economic Development Tax Abatement
TOTAL
Levy
$ 8,175,131
150,000
100,000
19,255
117,716
85,900
120,000
84,719
161,335
634,359
20,741
$ 9,669,156
Passed and adopted by the City Council of the City of Elk River this 11 th
day of September, 2006.
Larry Farber, Acting Mayor
ATTEST:
Joan Schmidt, City Clerk
2007 rvlax Levy 10%
RESOLUTION 06 ·
A RESOLUTION FOR THE CITY OF ELK RIVER
A RESOLUTION AUTHORIZING THE PROPOSED PROPERTY TAX LEVY
FOR COLLECTION IN 2007
WHEREAS, the Elk River City Council has reviewed the City's anticipated
expenditures for all funds in 2007; and,
WHEREAS, the Elk River City Council has considered projected revenues for
all funds in 2007; and,
WHEREAS, revenues from sources other than property taxes are not sufficient
to meet anticipated expenditure$ of all funds; and,
WHEREAS; debt levies have been adjusted or cancelled based on revenue
collections and projections.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk River that
the following amounts are the maximum to be levied as property taxes
payable in 2007:
General Fund
Library
Surface Water Management
City Special Assessments
1994 Storm Sewer Bonds
2005 Improvement Bonds
2007 Certificate of Indebtedness
2006 Certificate of Indebtedness
2005 Certificate of Indebtedness
Public Safety Lease Revenue Bonds
Economic Development Tax Abatement
TOTAL
Levy
$ 8,300,385
150,000
100,000
19,255
117,716
85,900
120,000
84,719
161,335
634,359
20,741
$ 9,794,410
Passed and adopted by the City Council of the City of Elk River this 11 th
day of September, 2006.
Larry Farber, Acting Mayor
ATTEST:
Joan Schmidt, City Clerk
2007 l\1ax Levy 11 %
RESOLUTION 06 -
A RESOLUTION FOR THE CITY OF ELK RIVER
A RESOLUTION AUTHORIZING THE PROPOSED PROPERTY TAX LEVY
FOR COLLECTION IN 2007
WHEREAS, the Elk River City Council has reviewed the City's anticipated
expenditures for all funds in 2007; and,
WHEREAS, the Elk River City Council has considered projected revenues for
all funds in 2007; and,
WHEREAS, revenues from sources other than property taxes are not sufficient
to meet anticipated expenditures of all funds; and,
WHEREAS; debt levies have been adjusted or cancelled based on revenue
collections and projections.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk River that
the following amounts are the maximum to be levied as property taxes
payable in 2007:
General Fund
Library
Surface Water Management
City Special Assessments
1994 Storm Sewer Bonds
2005 Improvement Bonds
2007 Certificate of Indebtedness
2006 Certificate of Indebtedness
2005 Certificate of Indebtedness
Public Safety Lease Revenue Bonds
Economic Development Tax Abatement
TOTAL
Levy
$ 8,388,623
150,000
100,000
19,255
117,716
85,900
120,000
84,719
161,335
634,359
20,741
$ 9,882,648
Passed and adopted by the City Council of the City of Elk River this 11 th
day of September, 2006.
Larry Farber, Acting Mayor
ATTEST:
Joan Schmidt, City Clerk
2007 IVIax Levy 12%
RESOLUTION 06 ·
A RESOLUTION FOR THE CITY OF ELK RIVER
A RESOLUTION AUTHORIZING THE PROPOSED PROPERTY TAX LEVY
FOR COLLECTION IN 2007
WHEREAS, the Elk River City Council has reviewed the City's anticipated
expenditures for all funds in 2007; and,
WHEREAS, the Elk River City Council has considered projected revenues for
all funds in 2007; and7
WHEREAS, revenues from sources other than property taxes are not suffi'cient
to meet anticipated expenditures of all funds; and,
WHEREAS., debt levies have been adjusted or cancelled based on revenue
collections and projections.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk River that
the following amounts are the maximum to be levied as property taxes
payable in 2007:
General Fund
Library
Surface Water Management
City Special Assessments
1994 Storm Sewer Bonds
2005 Improvement Bonds
2007 Certificate of Indebtedness
2006 Certificate of Indebtedness
2005 Certificate of Indebtedness
Public Safety Lease Revenue Bonds
Economic Development Tax Abatement
TOTAL
Levy
$ 8,436,011
150,000
100,000
19,255
117,716
85,900
120,000
84,719
161,335
6347359
207741
$ 9,930,036
Passed and adopted by the City Council of the City of Elk River this 11 th
day of September, 2006.
Larry Farber7 Acting Mayor
ATTEST:
Joan Schmidt, City Clerk
2007 :NIax Levy 12.9%
RESOLUTION 06.
A RESOLUTION FOR THE CITY OF ELK RIVER
A RESOLUTION APPROVING THE HOUSING AND
REDEVELOPMENT AUTHORITY 2007 TAX LEVY
WHEREAS, tlle Housing and Rede\Telopment .L~uthority in and for the City of Elk Ri,Ter
llas requested that tlle City autllorize a levy of .0131 % of the taxable
lnarket 'Talue of the City for ,rarious redev"-elopment acti'Tities; and,
WHEREAS, tile City Council of tile City of Elk Riv"er llas consented to tlns levy.
NOW, THEREFORE, BE IT RESOLVED by tile City Council of tile City of Elk River
that the Housing and Rede\relopment .L~utllority in and for tlle City of Elk River certify a
levy of .0131 ~/o of tile taxable market in tlle City for tlle benefit of tile Housing and
Rede"\Telopment .L~uthority.
Passed and adopted by tile City Council of tlle City of Elk Ri\rer, :t'v'finnesota dns 11 th day of
September, 2006.
Larry Farber, .L~cting l\-1ayor
.L~ITEST:
Joan Sclunidt, City Clerk
S:\Resolutions\Levy Fornlat HRA for CC.DOC
RESOLUTION 06-
A RESOLUTION FOR THE CITY OF ELK RIVER
A RESOLUTION APPROVING THE 2007 TAX LEVY FOR ECONOMIC
DEVELOPMENT PURPOSES FOR THE ELK RIVER ECONOMIC
DEVELOPMENT AUTHORITY
WH EREAS, tlle City Council of tlle City of Elk Ri\Ter llas recei\Ted a request from tlle
Economic De\Telopment ...A.utllority to lev.y a tax for the benefit of tlle
.!\uthority in tlle amount of .018130/0 of taxable market \Talue of taxable
property in tlle City for the year of 2007.
NOW, THEREFORE, BE IT RESOL VEO by tlle City Council of the City of Elk Ri\Ter
as follo\vs: TIle City Council of tIle City of Elk Ri\Ter proposes tllat a tax in the amount of
.018130/0 of the taxable market .value in the City be le'rl.ed in the year 2007 for the benefit of
tlle City of Elk Ri\Ter Economic De\Telopment j\uthority to be used for Economic
De\Telopment .L\ut1lority purposes as pro\Tided under 1vIinnesota Statute 469.090 et.seq.
Passed and adopted by tlle City Council of t1le City of Elk Ri\Ter, IVIinnesota this 11 th day of
Septetnber, 2006.
Larry Farber, .!\cting IvIayor
.r\ITEST:
Joan Sclunidt, City Clerk
S:\Resolutions\Levy Format EDA for CC.DOC
SOURCE OF FUNDS
2004 2005 2006 2007
ACTUAL ACTUAL ADOPTED PROPOSED 0/0 of Total $ increase 0/0 Increase
TAXES $ 4,905,845 $ 6,051,800 $ 7,280,500 $ 8,049,300 70.970/0 $ 768,800 10.560/0
INTERGOVERNMENTAL REVENUES 851,580 963,750 938,650 920,150 8.110/0 (18,500) -1.970/0
CHARGES FOR SERVICES 900,920 700,850 700,850 789,200 6.960/0 88,350 12.610/0
FINES AND FORFEITS 153,276 154,000 159,500 159,500 1.410/0 0.000/0
LICENSES & PERMITS 1,249,845 871,000 870,700 870,700 7.680/0 O.aOok
OTHER REVENUES 90,256 51,700 82,200 132,200 1.17O~ 501000 60.83Ohl
TRANSFERS 428,869 491,000 564,150 421,000 3.710/0 (1431150) -25.370/0
TOTAL $ 8,580,591 $ 9,284,100 $ 10,596,550 $ 11,342,050 1 00.000/0 $745,500 7.040/0
9/8/2006
9/8/2006
APPROPRIATIONS SUMMARY
2004 2005 2006 2007 % of % 55 2006
ACTUAL ADOPTED ADOPTED PROPOSED Total Change Increase % of Total
General Government
MAYOR & COUNCIL 5 169,618 195,150 200,950 210,150 1.85% 4.58% 9,200 1.90%
CABLE TV 61,685 117,850 88,700 90,300 0.80% 1.80% 1,600 0.84%
ADMINISTRATION 381,642 408,900 420,650 430,250 3.79% 2.28% 9,600 3.97%
HUMAN RESOURCES 81,950 0.72% #DIV/O! 81,950
ELECTIONS 30,551 1,450 35,900 0.00% ~100.00% (35,900) 0.34%
FINANCE 381,416 464,500 508,300 450,200 3.97%1 w11.43% (58,100) 4.800/0
INFORMATiON TECHNOLOGY 147,675 200,200 256,700 233,950 2.06% --8.86% (22,750) 2.42%
LEGAL 194,926 219,400 242,450 246,600 2.17% 1.71% 4,150 2.29%
COMMUNITY DEVELOPMENT 163,650 1.44% #DIV/O! 5 163,650
PLANNING 315,108 374,050 442,350 294,100 2.59% -33.51 % 5 (148,250) 4.17%
CITY HALL 143,937 180,200 211,300 235,400 2.08% 11.41% 5 24,100 1.99%
CONTINGENCY 156,704 100,000 110,000 137,600 1.21% 25.09% ,5 27,600 1.04%
ENERGY CITY 12,831 18,100 40,000 42,350 0.37% 5. 88t;.'o 5 2,350 0.38%
General Government 1,996,093 2,279,800 2,557,300 2,616,500 23.07% 2.31% 5 59,200 24.13%
Public Safety
POLICE 2,827,750 3,081,000 3,543,850 3,672,600 32.38% 3.63% 128,750 33.44%
FIRE 505,909 523,950 625,350 627,000 5.53% 0.26% 1,650 5.90~'Q
EMERGENCY MANAGEMENT 23,536 23,900 42,300 42,750 0.38% 1.06% 450 0.40%
BUILDING & ENVIRONMENTAL 669,039 710,750 743,700 667,000 5.88% -10.31% (76,700) 7.02%
ENVIRONM ENTAL 88,450 0.78%l #OIV/O! 88,450
Public Safety 4,026,234 4,339,600 4,955,200 5,097,800 44.95% 2.88% 142,600 46.76%
Public Works
STREETS 746,285 794,650 930,100 1,161,000 10.24% 24.83% 230,900 8.78%
SNOW REMOVAL 121,340 250,350 255,200 299,250 2.64% 17.26% 44,050 2.41%
EQUIPMENT SERViCES 279,480 278,600 270,250 231,250 2.04% -14.43% (39,000) 2.55%
ENGINEERiNG 83,941 105,000 188,000 200,100 1.76% 6.44% 12,100 1.77%
Public Works 1,231,046 1,428,600 1,643,550 1,891,600 16.68% 15.09% 248,050 15.51%
Culture & Recreation
PARK MAiNTENANCE 400,177 390,000 535,250 664,950 5.86% 24.23% 129,700 5.05%
RECREATiON 495,937 600,950 649,350 718,000 6.33% 10.57% 68,650 6.13%
SR. CITIZEN PROGRAMS 89,925 96,450 110,750 158,600 1.40~/o 43.21% 47,850 1.05%
Culture & Recreation 986,039 1,087,400 1,295,350 1,541,550 13.59% 19.01 % 246,200 12.22%
TRANSFERS 105,860 148,700 145,150 194,600 1.72% 34.07% 49.450 1.37%
TOTAL 5 8,345.272 5 9,284,100 $10,596,550 $11,342,050 100.00% 7.04% 745,500 100.00%
GENERAL FUND EXPENDITURES 2004 - 2007
55,000,000
54,000,000
53,000,000
52,000,000
$1,000,000
$-
General
Government
Public Safety
Culture &
Recreation
Transfers
Public Works
1112004 [
102005 !
i 0 2006'
! &2007 i
PRELIMINARY LEVY AND TAX RATE DATA
(Based on estimated NTC)
FOR TAXES PAYABLE 2007
General Fund
Library
Surface Water Mgmt.
City Special Assessments
1994 Storm Sewer Bonds
2005 Improvement Bonds
2005 Certificate of Indebtedness
Capital Equipment
Fire Pumper
2006 Certificate of Indebtedness
2007 Certificate of Indebtedness
Public Safety Lease Rev. Bonds
Economic Development Tax Abatement
Final NTC -March 2006
NTe
20,085,784
Levy
8,823,793
8% NTC Increase
Proposed Levy 21,692,647 9,493,353
2005 Tax Rate 21,692,647 9,493,353
9% NTC Increase
Proposed Levy 21,893,505 9,493,353
2005 Tax Rate 21,893,505 9,581,254
10% NTC Increase
Proposed Levy 22,094,362 9,493,353
2005 Tax Rate 22,094,362 9,669,156
11 % NTC Increase
Proposed Levy 22,295,220 9,493,353
2005 Tax Rate 22,295,220 9,757,057
12% NTC Increase
Proposed Levy 22,496,078 9,493,353
2005 Tax Rate 22,496,078 9,844,959
Net
Levy
$ 7,999,328
150,000
100,000
19,255
117,716
85,900
161,335
84,719
120,00(1 ,
634,359
20,741
$ 9,493,353
Tax Rate
43.931%
43.763%
43.763%
43.362%
43.763%
f-\ Cl(\dcIlJS
q ( II l 6't.i
Additional
Avail. For
General Fund
Tax Levy
87,901
42.967%
43.763% 175,803
42.580%
43.763% 263,704
42.200%
43.763% 351,606
(0)
Increase over
2006
General Fund
Tax Levy
778,828
866,729
954,631
1,042,532
1,130,434
9/11/2006
Tax Levy.xls
RESOLUTION 06 -
A RESOLUTION FOR THE CITY OF ELK RIVER
A RESOLUTION AUTHORIZING THE PROPOSED PROPERTY TAX LEVY
FOR COLLECTION IN 2007
WHEREAS, the Elk River City Council has reviewed the City's anticipated
expenditures for all funds in 2007; and,
WHEREAS, the Elk River City Council has considered projected revenues for
all funds in 2007; and,
WHEREAS, revenues from sources other than property taxes are not sutfic::i~nt
to meet anticipated expenditures of all funds; and,
WHEREAS, debt levies have been adjusted or cancelled based on revenue
collections and projections.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk River that
the following amounts are the maximum to be levied as property taxes
payable in 2007:
General Fund
Library
Surface Water Management
City Special Assessments
1994 Storm Sewer Bonds
2005 Improvement Bonds
2007 Certificate of Indebtedness
2006 Certificate of Indebtedness
2005 Certificate of Indebtedness
Public Safety Lease Revenue Bonds
Economic Development Tax Abatement
TOTAL
~
$ 8,363,032
150,000
100,000
19,255
117,716
85,900
120,000
84,719
161,335
634,359
20,741
$ 9,857,057
Passed and adopted by the City Council of the City of Elk River this 11 th
day of September, 2006.
Larry Farber, Acting Mayor
ATTEST:
Joan Schmidt, City Clerk
2007 Max Levy 11 %
RESOLUTION 06 -
A RESOLUTION FOR THE CITY OF ELK RIVER
A RESOLUTION AUTHORIZING THE PROPOSED PROPERTY TAX LEVY
FOR COLLECTION IN 2007
WHEREAS, the Elk River City Council has reviewed the City's anticipated
expenditures for all funds in 2007; and,
WHEREAS, the Elk River City Council has considered projected revenues for
all funds in 2007; and,
WHEREAS, revenues from sources other than property taxes are not suftic;ient
to meet anticipated expenditures of all funds; and,
WHEREAS, debt levies have been adjusted or cancelled based on revenue
collections and projections.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk River that
the following amounts are the maximum to be levied as property taxes
payable in 2007:
General Fund
Library
Surface Water Management
City Special Assessments
1994 Storm Sewer Bonds
2005 Improvement Bonds
2007 Certificate of Indebtedness
2006 Certificate of Indebtedness
2005 Certificate of Indebtedness
Public Safety Lease Revenue Bonds
Economic Development Tax Abatement
TOTAL
~
$ 8,350,934
150,000
100,000
19,255
117,716
85,900
120,000
84,719
161,335
634,359
20,741
$ 9,844,959
Passed and adopted by the City Council of the City of Elk River this 11 th
day of September, 2006.
Larry Farber, Acting Mayor
ATTEST:
Joan Schmidt, City Clerk
2007 Max Levy 12%
RESOLUTION 06 -
A RESOLUTION FOR THE CITY OF ELK RIVER
A RESOLUTION AUTHORIZING THE PROPOSED PROPERTY TAX LEVY
FOR COLLECTION IN 2007
WHEREAS, the Elk River City Council has reviewed the City's anticipated
expenditures for all funds in 2007; and,
WHEREAS, the Elk River City Council has considered projected revenues for
all funds in 2007; and,
WHEREAS, revenues from sources other than property taxes are not sufficient
to meet anticipated expenditures of all funds; and,
WHEREAS, debt levies have been adjusted or cancelled based on revenue
collections and projections.
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NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk River that
the following amounts are the maximum to be levied as property taxes
payable in 2007:
General Fund
Library
Surface Water Management
City Special Assessments
1994 Storm Sewer Bonds
2005 Improvement Bonds
2007 Certificate of Indebtedness
2006 Certificate of Indebtedness
2005 Certificate of Indebtedness
Public Safety Lease Revenue Bonds
Economic Development Tax Abatement
TOTAL
Levv
$ 8,363,032
150,000
100,000
19,255
117,716
85,900
120,000
84,719
161,335
634,359
20,741
$ 9,857,057
Passed and adopted by the City Council of the City of Elk River this 11 th
day of September, 2006.
Larry Farber, Acting Mayor
ATTEST:
Joan Schmidt, City Clerk
2007 Max Levy 11 %
RESOLUTION 06 -
A RESOLUTION FOR THE CITY OF ELK RIVER
A RESOLUTION AUTHORIZING THE PROPOSED PROPERTY TAX LEVY
FOR COLLECTION IN 2007
WHEREAS, the Elk River City Council has reviewed the City's anticipated
expenditures for all funds in 2007; and,
WHEREAS, the Elk River City Council has considered projected revenues for
all funds in 2007; and,
WHEREAS, revenues from sources other than property taxes are not sufficient
to meet anticipated expenditures of all funds; and,
WHEREAS, debt levies have been adjusted or cancelled based on revenue
collections and projections.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk River that
the following amounts are the maximum to be levied as property taxes
payable in 2007:
General Fund
Library
Surface Water Management
City Special Assessments
1994 Storm Sewer Bonds
2005 Improvement Bonds
2007 Certificate of Indebtedness
2006 Certificate of Indebtedness
2005 Certificate of Indebtedness
Public Safety Lease Revenue Bonds
Economic Development Tax Abatement
TOTAL
Levv
$ 8,350,934
150,000
100,000
19,255
117,716
85,900
120,000
84,719
161,335
634,359
20,741
$ 9,844,959
Passed and adopted by the City Council of the City of Elk River this 11th
day of September, 2006.
Larry Farber, Acting Mayor
ATTEST:
Joan Schmidt, City Clerk
2007 Max Levy 12%
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