2008-12-01PLEASE TURN OFF CELL PHONES & PAGERS IN COUNCIL CHAMBERS. ~ ' `~
CITY OF MOUND tVIISSION STATEMENT: The City of Mound, through teamwork and cooperation, provides at a reasonable ~,
cost, quality services that respond to the needs of all citizens, fostering a safe, attractive and flourishing community.
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AGENDA
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MOUND ~~LT1r,~ f- '~'
REGULA 1\'IEE .~•~~ ~ ,I<~fli~t~'D' CIT°~`~E /~ ~`~
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*ConsentAQenda: Items listed under the ConsentAgenda are considered routine in nature and will be enacted by a single roll call
vote. There will be no separate discussion of these items unless a Council Member or Citizen so requests. In that event the item will
be removed from the Consent Agenda and considered in normal sequence.
1. Call meeting to order
2. Truth In Taxation Hearing
3. Adjourn
12/1/2008
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City of Mound
Truth in Taxation Hearing
December 1, 2008
City of Mound
Truth in Taxation Hearing
Agenda
I. Opening Comments -
City Manager Kandis Hanson &
Mayor Mark Hanus
II. 2009 Preliminary Budget Summary -
Presented by Finance Director Catherine Pausche
III. Public Hearing -Comments
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12/1/2008
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City of Mound
Truth in Taxation Hearing
2009 Preliminary Budget Summary
2008 2009 % Increase
General Fund Levy $3.59 M $3.73 M 3.90%
Special Levies $1.34 M $1.45 M 8.21%
(for debt service & fire relief)
Total levy $4.93 M $5.18 M 5.01%
City of Mound
Truth in Taxation Hearing
2009 Preliminary Budget Summary
General Fund Revenue Sources
Proceeds from
Sale of Bonds Other
Charges for 3% Revenue
Services 10%~ 7%
Licenses 5%
Intergovernmen~~ ', ~~
tal Revenue 6% °' Property
Tax 69%
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12/1/2008'
City of Mound
Truth in Taxation Hearing
2009 Preliminary Budget Summary
General Fund Expenditures
Parks &
Recr eation Other
11 /° General
Public Works ~ c°~ -Government
(Streets) 16%~. ~ 25%
Public Safety
48%
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Balance Difference Balance
Fund 1/1/2009 Revenues Expenses Rev-Exo 12/3L09
General $1,188,499 $5,008,295 $5,328,300 5320,005 $888,494
Area Fire 149,333 1,038,710 1,019,710 19,000 188,333
Debt Service 5,261,402 5,261,402
Capltallmprovement 7,000 1,672 5,328
Recycling 33,989 231,700 241,509 -9,809 24,180
Liquor Store 2,860,000 2,858,592 201,408
Watar 1,110,900 1,383,379 -272,479
Sewer 1,598,625 1,589,741 8,884
Storm Water 550,675 175,000 222,341 -47,341 503,334
Dock 135,713 167,450 229,121 51,671 74,042
Fire Relief 74.404 74.404
Total All Funds 52.058.209 517.533.486 Si8.0i0.i7i 5476.685 51.638.383
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12/1/2008
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City of Mound
Truth in Taxation Hearing
2009 Proposed Tax Rate Summary
Tax Recipients Include:
Hennepin County
City of Mound
School District 277
Metropolitan Council
Special Taxing Districts
II. Limited Market Value cap of 15% increase per year
expires in 2009 for taxes payable in 2010
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City of Mound
Truth in Taxation Hearing
2009 Proposed Tax Rate Summary
III. Local Tax Rate Calculation:
Total Levy $5.18 M /Adjusted Net Tax Capacity
$15,075 M = 34.3% Local Tax Rate
IV. Net Tax Capacity Expected to Decrease for
Payable 2010 due to declines in market value in
most categories, including residential lakeshore
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12/1/2008
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City of Mound
Truth in Taxation Hearing
2009 Change in Taxable Market Values
for Residential Single Family Properties
Taxable Market Value (T MV) % Change Range
# Properties % Total
Decrease in TMV 1,913 56.2°k
Increase .1% to 4.9% 589 17.3%
Increase 5.0% to 9.9% 188 5.5%
Increase 10% to 14.9% 133 3.9°~
Increase 15% to 19.9% 431 12.7%
_ Increase 20% and over 150 4.4°~
Total Properties 3,404 100°~
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City of Mound
Truth in Taxation Hearing
2009 Change in Taxable Market Values
for Commercial Industrial Properties
Taxable Market Value (TMV) % Change Range
# Properties % Total
Decrease in TMV 3 4.8°h
Increase .1% to 4.9% 58 93.6°~
Increase 5.0% to 9.9% - -
Increase 10%to 14.9% - -
Increase 15% to 19.9% - -
Increase 20% and over 1 1.6°~
Total Properties 62 100%
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12/1/2008
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City of Mound
Truth in Taxation Hearing
Presentation of Actual Tax
Statements
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City of Mound
Truth in Taxation Hearing
Public Hearing -Questions and
Comments from attendees
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How Your Cifiy and County Praperty Taxes Are Defiermined
-- a
Box ~
Totat
. Proposed Locat
Budget
k
-i ... .. ...; .,. .. ........
~ x
- m~nus_-_._______ ...
___.__..
sox 4
Assessor's
Market Value
X times ----...._._._ _
Box 5
State
Mandated
Class Rates
=equats .._ _ _ =equals
Box 3
Property Tax
Revenue Needed
(~e~)
Box 7
Property ~, .
Tax ~.
Rate
("Tax Capacity" Rate)
56:•:v7~~Gb.,,wn«AM4~A'.h;.7~w:~iM.Z,§}tr:.}:•Y~S:vX~.:WriS:,V:
YOUR PROPERTY TAX EQUALS: .
Your Property's Market Value X ~Iasg ate(sl X "~a_ a a~city" ,
Ed. Homestead Credit ($3% of K-22 gen'1. educ. tax up to $390 in '00)
divided by
= equats
Box S
Total.
"Tax. Capacity"
(Formerly Assessed
Vaiue).
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