9. Establish Levy Limit and Set Truth in Taxation Hearing Dates.CITY OF R
0 S
690 COULTER DRIVE • P.O. BOX 147 • CHANHASSEN, MINNESOTA 55317
(612) 937 -1900 0 FAX (612) 937 -5739
MEMORANDUM
TO: Mayor and City Council
FROM: Don Ashworth, City Manager
DATE: September 3, 1997
SUBJ: Acknowledge State Established Levy Limit for the City of Chanhassen and Set
Truth in Taxation Hearing Dates
BACKGROUND
State law requires that we conduct Truth in Taxation hearings prior to adoption of final budgets
� county, for
the school district , and cities. Typically, two dates are set --one for the official public
tY
hearin g and a second for a continuation hearing, if needed. The hearing dates must occur
between November 29 and December 20. As two school districts, two counties and metro
g
special taxing
districts et to choose their dates before the city, the number of open dates left is
very w, especially recognizing that the National League of Cities Conference occurs during that
r°y � p Y � t
time frame. The four open dates are December 2, 10, 15, and 17. If the 15 1n or 17 o are chosen
p
for the initial hearing, there is no allowance for a continuation hearing. Staff would recomm end
that the council select Tuesday, December 2 at 5:30 p.m. for the initial hearing and Monday,
December 15 at 5:30 p.m. for the continuation and adoption hearing.
establish two hearing Although the requirement to g dates has been in existence for several years,
this will be the first Y ear that the taxing districts will be under levy limits. Specifically, the state
has mandated that cities, counties, and school districts cannot levy more than the previous year,
but do make an allowance for CPI and household adjustments. For 1998, the City of Chanhassen
ca nnot le more than $4 It should be noted that this number does not include bonded
debt ($858,688) nor the dollars necessary to pay for the park referendum. Both of these are
considered special levies outside of the levy limit calculations. After the city submits its levy to
the county, County the Coun Auditor is responsible to prepare Truth in Taxation notices to be sent to
each ro ert owner informing them of what their property tax will likely be unless a
governmental unit decides to le something less than their levy limit. [Note: A governmental
Mayor and City Council
.Sep tember 3, 1997
Page 2
• either at the initial hearing unit can make a determination to reduce its levy e g or the continuation
e the amount over the certified levy limit.]
hearin• g, but cannot increas
• several changes in how property tax calculations are to
This past legislative session also included se g p p
' roe .owners will see a 5 % -6% decrease in
occur. On a pure formula basis, most residential pro rty
their taxes . solely because of the. state's decision to infuse more dollars into the property lax
I am sure- that it was
because of the state's desire to see property tax relief
system from the state.
• ' e the le slature did not want cities, counties and school
that levy limits were put into place, i. g
• and take away the ro erty tax relief intended by the state. The
districts to increase their Levy y p p , , .
' or work efforts b county assessors throughout the state. According .y,
new system required rna� y
as to what t e f increase the city had in its tax base. State law
o
as of today, we have no idea yp t
. Provides until October 1 S to complete those ,calculations. Although we do
, the .county assessors p
an es occurred in the tax base, new construction coupled
not know for certain what type of ch g
odification in roe tax calculations, should produce a tax decrease or the average
with them property �y
roach the Truth in Taxation hearing dates, we should be considering various
a pp
taxpayer. As we
howin that transit costs and the park referendum are included in the rut
forms of publication s g
in Taxation hearing notice.
[INNESOTA Department of Revenue
Property Tax Division Mail Station 3340
Phone (612) 296 -3155
Payable 1998 Overall Levy Limitation Notice
CHANHASSEN CITY OF
CITY ADMINISTRATOR
CITY HALL
690 COULTER DRIVE
CHANHASSEN, MN 55317
St. Paul, MN 55146 -3340
Fax (612) 297 -2166
July 31, 1997
The payable 1998 overall levy limitation for your city is: $ 4
The following is a listing of the factors used in determining your city's payable 1998
overall levy limitation. See the enclosed letter for an explanation of these factors and for
additional information concerning your city's overall levy limitation.
1.
Total Final Certified Levy for the Taxes Payable Year 1997:
$
4
2.
Payable 1997 Levy for Bonds and Certificates of Indebtedness
a. Bonded Indebtedness:
$
835
b. Certificates of Indebtedness:
$
c. Armory Bonds:
$
d. Bonds of Another Governmental Subdivision:
$
e. Total (a+b+c+d):
$
835
3.
Payable 1997 Market Value -Based Referendum Levy:
$
4.
1997 Property Tax Aids
a. 1997 Certified Local Government Aid (LGA):
$
p
b. 1997 Certified Homestead and Agricultural Credit Aid (HACA):
$
1
c. 1997 Certified Local Performance Aid (LPA):
$
17
d. 1997 Taconite Aids:
$
e. Total (a+b+c +d):
$
1
5.
Beginning Levy Limit Base for Payable 1998 (1 - 2e - 3 + 4e):
$
4
6.
Implicit Price Deflator Adjustment:
1.022
7.
Household Growth Adjustment
a. 1995 Households:
5
b. 1996 Households:
5
c. Ratio of 1996 to 1995 Households (b /a, but not less than 1.000):
1.071
8.
Adjusted Levy Limit Base for Payable 1998 (5 x 6 x 7c):
$
5
9.
New Net Tax Capacity -Based Referendum Levies:
$
10. 1998 Property Tax Aids
a. 1998 Certified Local Government Aid (LGA):
$
0
b. 1998 Certified Homestead and Agricultural Credit Aid (HACA):
$
1
c. 1998 Certified Local Performance Aid (LPA):
$
21,471
d. 1998 Taconite Aids:
$
e. Total (a+b+c+d):
$
1
11.
Payable 1998 Overall Levy Limitation (8 + 9 - l0e):
$
4
An equal opportunity employer TTY /TDD: (612) 215 -0069
EXHIBIT: 1.11
Approved:
Updated:
25- Aug -97
DEBT ANALYSIS - SUMMARY REPORT
CURRENT AND PROJECTED PROPERTY TAX
LEVIES
ALL FUNDS
-
REPORT
TOTALS
FUND DESCRIPTION
LOC
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
(96 -END)
PROPERTY TAX LEVIES
GENERAL OBLIGATION DEBT
CORP BONDS 1988 (F316)
2.01
132,500
135,000
135,000
135,000
135,000
135,000
135,000
135,000
145,000
145,000
140,000
140,000
1,110,000
CORP BDS 1989C (F323)
2.02
100,000
82,900
82,900
82,900
82,900
82,900
82,900
96,040
96,040
101,000
101,000
100,000
0
742,780
REF BLDG BDS 1991 D (F302)
2.03
162,700
173,400
163,400
148,400
140,400
125,400
149,666
150,420
0
565,886
TOTALS - GO
395,200
391,300
381,300
366,300
358,300
343,300
367,566
381,460
241,040
246,000
241,000
240,000
0
2,418,666
SPECIAL ASSESSMENT FUNDS
BONDS OF 1972(73 (F506)
3.11
0
0
0
0
0
0
REF IMPR BDS -83 (F514)
3.12
0
0
0
0
0
0
REF IMPR BONDS -96A (F341)
3.13
0
0
0
0
0
0
0
0
0
0
0
0
0
REF IMPR BONDS -94B (F334)
3.14
0
0
0
0
0
0
0
0
0
0
0
0
0
0
REF IMPR BDS -94A (F333)
3.15
0
0
0
0
0
0
0
0
0
0
0
0
0
IMPR BDS -1990 B (F324)
3.16
32,700
42,700
42,700
40,000
40,000
40,000
40, 000
40,000
160
IMPR BDS -1991 A (F326)
3.17
133,000
133,000
168,671
98,000
135,000
135,000
135,000
135,000
135,000
773,000
REF IMPR BDS91 E (F303)
3.18
130,000
135,000
140,000
145,000
150,000
155,000
160,000
165,000
170
175,000
180,000
0
1,155,000
IMPR BDS -1992 A (F310)
3.19
0
0
0
0
0
0
0
0
0
0
0
0
0
0
IMPR BDS -1993 C (F331)
3.20
0
0
0
0
0
0
0
0
0
0
0
0
0
IMPR BDS - 1995 B (F339)
3.21
0
78,607
85,000
85,000
90,000
90,000
85,000
85,000
90,000
85,000
773
IMPR BDS - 1995 C (F340)
3.22
0
0
67,975
71,122
75,842
75,031
494,179
595,578
40,125
42,188
1,462,040
IMPR BDS - 1996 B (F342)
3.23
0
0
0
0
0
0
0
0
IMPR BDS - 1996 D (F344)
3.24
0
0
0
0
0
0
0
0
TOTALS - SPECIALS
162,700
310,700
315,700
353,671
366,607
482,975
491,122
505,842
470,031
889,179
860,578
130,125
127,188
4,323,647
TOTAL DEBT LEVIES
557,900
702,000
697,000
719,971
724,907
826,275
858,688
887,302
711,071
1,135,179
1,101,578
370,125
127,188
6,742,313
CASH BAL'S GUAR DEBT
PYMTS - CAPITAL
1.10
0
3,408,568
3,994,254
1,240,644
3,290,567
3,342,630
3,538,988
3,712,747
3,874,205
3,949,137
4,132,039
4,197,953
4,512,011
REQUIRED DEBT LEVY
4.37
4.91
4.67
4.40
4.50
4.50
4.50
4.50
4.50
4.50
4.50
4.50
4.50
OPERATIONAL LEVY
21.01
20.54
20.87
21.43
20.50
20.50
20.50
20.50
20.50
20.50
20.50
20.50
20.50
TOTAL LEVY ( %)
25.38
25.45
25.54
25.83
25.00
25.00
25.00
25.00
25.00
25.00
25.00
25.00
25.00
TOTAL LEVY
3,241,000
3,640,000
3,815,400
4,226,300
4,625,000
4,763,750
4,906,663
5,053,862
5,205,478
5,361,643
5,522,492
5,688,167
5,858,812
-HACA
776,000
927,000
963,016
968,238
939,443
967,626
996,655
1,026,555
1,057,351
1,089,072
1,121,744
1,155,396
1,190,058
-FIS DIS DIST
224,000
240,000
121,398
355,476
366,140
377,124
388,438
400,091
412,094
424,457
437,191
450,306
463,816
NET LEVY
2,241,000
2,473,000
2,730,986
2,902,586
3,319,417
3,418,999
3,521,569
3,627,216
3,736,033
3,848,114
3,963,557
4,082,464
4,204,938
TAX CAPACITY
8.830
9.716
10.219
10.526
10.842
11.167
11.502
11.847
12.203
12.569
12.946
13.334
13.734
DEBT CAPACITY
557,900
702,000
697,000
719,971
832,500
857,475
883,199
909,695
936,986
965,096
994,049
1,023,870
1,054,586
DEBT CAPACITY VS. ACTUAL
0
0
0
0
107,593
31,200
24,511
22,393
225,915
(170,083)
(107,529)
653,745
927,398
T)RAF 7
COMPLETE AND Minnesota Department of Revenue - Property Tax Division
RETURN TO: Mail Station 3340
St. Paul, Minnesota 55146 -3340
Telephone: (612) 296 -5145
Fax: (612) 297 -2166
Name of Governmental Unit Name of Person Filling Out Form
C / 7Y 0" Pq
Mailin g Address Telephone
�10Z,' "11.4 A
(�/ 1 ) q3 7
1. Total Final Payable 1998 Levy Certified to County
Auditor...... ............................... $
C� t
2.
Total Special Levies (from page 2) ................
$
3.
Levy Subject to Levy Limitation (1 minus 2) .........
$
4.
1997/1998 Levy Limitation ......................
I SCHEDULE
SPECIAL LEVIES
TOTAL
A.
Bonded Indebtedness (Net Tax Capacity Based) .....
$
B.
Certificates of Indebtedness .....................
$
C.
Payments for Bonds of Another Governmental Unit ...
$
C�
D.
Principal and Interest on Armory Bonds ............
$
C�
E. Unreimbured Costs of Spring 1997 Floods
(B Y Appeal to the Dept. of Revenue Only) .......... $ 0
F. Tax Dollars Lost Due to Abatements Granted to
Property in Disaster Areas ...................... $
G. Market Value Based Referendum Levies . ► �;:�
Page 1
H. Increases in Matching Fund Requirements for
State or Federal Grants ........................
$ �
L Preparing for or Repairing the Effects of Natural
Disasters (By Appeal to the Dept. of Revenue Only) ..
$ �
J. Special Levies for Specific Counties and Cities ......
$ Q
(1) Faribault County and City of Blue Earth for
Matching Funds (Laws 1997, Chap. 231, Art. 3
Sec. 8) .................................. .
$ ('`)
(2) Washington County for Payments to Washington
County HRA (Laws 1997, Chap. 231, Art. 2,
Sec. 58) .. ...............................
$
Total Special Levies ........... ...............................
$
I the budget representative of the above mentioned county or city, certify that the
foregoing figures are accurate to the best of my knowledge.
SIGNATURE OF BUDGET OFFICER TITLE 6 T 4=-
Page 2