Adopt Resolution No. 2022-84 approving the proposed Budget and establishing the proposed Tax Levy payable in 2023.
INTRODUCTION:
M.S. 275.065 requires that the City adopt a proposed budget and levy and certify the proposed levy to the county auditor by September 30. The county auditor will use this information to prepare and send parcel specific notices between November 11 to 24. The City is also required to certify the final property tax levy to the county by December 27, 2022.
The final levy may be less than or equal to, but not higher, than the preliminary levy. The attached resolution sets the maximum proposed 2023 tax levies at $49,610,800. The HRA adopted a proposed tax levy of $244,400 at their meeting on September 15.
The total of all levies including the HRA would result in an overall levy increase of 9.89% percent. The impact of the proposed levy on the median value home ($659,900 in 2023) is a 3.15% decrease in city property taxes to $1,971 annually ($164/month).