Public Hearing - Alison Bong, Deputy Finance Director
Title
Title
Adopt 2023 Tax Levies
end
Executive Summary
Pursuant to requirements to adopt annual budgets for all operating funds, Staff is bringing forward the proposed 2023 Tax Levies for Council consideration and adoption.
Background
Council conducted a public hearing for the proposed 2023 General Fund budget and proposed property tax levy on December 12. Pursuant to statutory requirements, a public hearing is again scheduled for tonight at which the City Council will again consider public input and adopt a final levy and budget.
The first item of action will be to adopt the 2023 tax levy. The attached resolution reflects the tax levy that Council directed be brought forth for consideration at the December 12, 2022, public hearing.
In association with the attached resolution, Council will also adopt the 2023 General Fund Budget. This will be done under a separate resolution following the public hearing and adoption of the 2023 property tax levy.
Strategic Plan Relationship
Adoption of annual budgets contributes to the overall financial stability of the City.
Board/Commission Review
N/A
Financial Impact
The proposed levy, if adopted along with the Economic and Development Authority Levy (EDA), will follow the direction of City Council and will hold the aggregate Property Tax Rate at 32.369%, a decrease of 3.506% from the 2022 aggregate Property Tax Rate of 35.875%. Due to growth within the city and appreciation in the value of existing property, this will result in a total levy of $37,112,000 excluding the EDA levy. The final recommended Property Tax Levy excluding the EDA levy decreased $526,900 from the Preliminary Levy adopted in September.
In summary, this resolution, if passed, will adopt a general levy of $37,112,000. This excludes the EDA levy of $1,000,000. The total recommended levy of $38,112,000 will result in a tax rate of 32.396%.
Public Outreach/Input
Council conducted a public hearing for the proposed 2023 General Fund budget and proposed property tax levy on December 12, 2022.
Staff Recommendation
By motion, adopt the resolution included herein.
Attachment List
2023 Levy Summary - General Fund and EDA
Body
WHEREAS, a proposed General Fund Budget for the fiscal year commencing January 1, 2023 has been prepared by the City Manager and presented to the City Council; and
WHEREAS, it will require the levying of taxes to finance, in part, the General Fund Budget; and
WHEREAS, City Management has analyzed the city’s debt service balances and determined that it will require the levying of taxes to finance scheduled debt service payments; and
WHEREAS, the scheduled levies are to be adjusted for 2023; and
WHEREAS, the City Charter stipulates that a resolution levying taxes be certified to the County Auditor; and
WHEREAS, it is the intent of this resolution to certify the tax levy to the County Auditor.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Blaine that the following debt service levies previously scheduled for 2023 are canceled:
|
Bond Description |
Tax Levy |
|
GO Improvement Bonds 2013A |
$573,930.00 |
|
GO Improvement Bonds 2014A (68a) |
$92,516.69 |
|
GO Improvement Bonds 2014A (68b) |
$95,659.17 |
|
GO Equipment Capital Note 2016 (NMTV) |
$122,493.80 |
|
GO Improvement Bonds 2016A (71a) |
$198,477.85 |
|
GO Improvement Bonds 2016A (71b) |
$162,652.61 |
|
GO Improvement Bonds 2016A (71d) |
$709,590.00 |
|
GO Taxable Improvement Bonds 2017A |
$250,590.19 |
|
GO Equipment Certificate of Indebtedness 2018A |
$251,160.00 |
|
GO Improvement Bonds 2019A |
$562,615.69 |
|
GO Capital Improvement Plan Bonds 2019B |
$487,987.50 |
|
GO Improvement Bonds 2020A |
$514,667.06 |
|
GO Improvement Bonds 2021A (78A) |
$464,183.01 |
|
GO Improvement Bonds 2021A (78B) |
$111,827.63 |
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Blaine as follows:
1. The County Auditors of Anoka County and Ramsey County shall levy taxes upon the taxable property in the City of Blaine during fiscal year 2023 as follows:
|
General Fund |
$31,712,000 |
|
PMP |
$100,000 |
|
Parks, Trails |
$500,000 |
|
Debt Service |
|
|
GO Improvement Bonds 2013A |
$300,000.00 |
|
GO Improvement Bonds 2014A (68a) |
$100,000.00 |
|
GO Improvement Bonds 2014A (68b) |
$100,000.00 |
|
GO Equipment Capital Note 2016 (NMTV) |
$0 |
|
GO Improvement Bonds 2016A (71a) |
$190,000.00 |
|
GO Improvement Bonds 2016A (71b) |
$160,000.00 |
|
GO Improvement Bonds 2016A (71d) |
$650,000.00 |
|
GO Taxable Improvement Bonds 2017A |
$250,000.00 |
|
GO Equipment Certificate of Indebtedness 2018A |
$125,000.00 |
|
GO Improvement Bonds 2019A |
$575,000.00 |
|
GO Capital Improvement Plan Bonds 2019B |
$500,000.00 |
|
GO Capital Improvement Plan Bonds 2020A |
$550,000.00 |
|
GO Improvement Bonds 2021A (78A) |
$437,250.00 |
|
GO Improvement Bonds 2021A (78B) |
$112,750.00 |
|
GO Improvement Bonds 2022 |
$750,000.00 |
|
Total Levy |
$37,112,000 |
2. The City Clerk is hereby authorized and directed to forward a certified copy of this resolution to the County Auditors of Anoka County and Ramsey County.
PASSED by the City Council of the City of Blaine this 19th day of December 2022.