1i. 1999 Max Property Tax Levy SW Metro Transit P ` I
„gal , _
CITY OF
CHANHASSEN
90 City Center Drive,PO Box 147
Chanhassen,Minnesota 55317
Phone 612.937.1900 TO: Don Ashworth,City Manager
General Fax 612.937.5739
Engineering Fax 612.937.9152 FROM: Pam Snell,Finance Director t� �'l
Public Sa fet)-Fax 612.934.2524
SUBJ: 1999 Transit Service Levy Adoption
Web wwwci.chanhasen.nm,us
DATE: June 16, 1998
Minnesota statute requires that a municipality which intends to exercise the r
transit services local levy option for the taxes payable year 1999 must notify the - -
Department of Revenue and the Metropolitan Council of its intent on or before
June 30, 1998. The notification must include the amount of the municipality's
proposed transit tax for levy year 1998,taxes payable 1999.
After June 30, 1998,the city's decision to levy or not to levy a transit tax for the
taxes payable year 1999 is irrevocable. The only change that may be made after
June 30, 1998 is to reduce the amount of the transit tax.
•
Staff recommends certification of notice to intent to exercise local transit tax
K t levy option for taxes payable in 1999 and set proposed transit tax for the 1998
levy year at$707,744. - -
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the City of Chanhassen.A growing community with clean lakes,quality schools,a charming downtown,thriving businesses,and beautiful parks.Agreat place to live, work,and play.
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Jun-03-98 03: 18P SMTC ;
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CITY OF CHANHASSEN 1 .
COUNTIES OF CARVER AND HENNEPIN
RESOLUTION NO.
DECLARING INTENT TO EXERCISE
LOCAL TRANSIT LEVY OPTION FOR TAXES IN 1999
WHEREAS, Laws ofMinnesota for 1996, Chapter 455, Section 4 (the "Local Levy Option
' ": Act"), allows the Cities of Chanhassen, Chaska, and Eden Prairie,to make a local transit tax levy
'' in lieu of receiving assistance from the Metropolitan Council under Minnesota Statutes, Section
473.388, subdivision 4; and,
WHEREAS, said local transit levy will replace a similar transit tax levy which would otherwise
be made by the Metropolitan Council; and,
L. WHEREAS, in order to effectively exercise the local transit tax levy option, it is necessary that
- each of the Cities of Chanhassen, Chaska, and Eden Prairie, notify the State Commissioner of
g. Revenue and the Metropolitan Council of its intent to levy the taxes before July 1 of each levy year '
and to include in the notification the amount of the City's proposed transit tax for the levy year;
and,
WHEREAS, it is in the best interest of the City of Chanhassen that it declare its intent to exercise
- the local transit levy option for taxes payable in 1999.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Chanhassen as
- follows:
1. The City hereby declares its intent to exercise the local transit tax levy option for taxes
~' payable in 1999 in an amount not to exceed that permitted by Local Levy Option Act and as =
certified by the State Commissioner of Revenue in accordance therewith.
2. The City Manager is authorized and directed to give the State Commissioner of Revenue
s` and the Metropolitan Council of the City's intent to exercise the local transit tax option for taxes
payable in 1999 in accordance with the notice attached hereto as Exhibit A and incorporated herein
by reference.
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-7 •'-' ADOPTED by the City Council of the City of Chanhassen this 22nd day of June, 1998.
�� ancy Mancino, Mayor
_� ATTEST: _
Donald Ashworth, City Manager
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Jun-03-98 03 : 18P SMTC 949 8542 P . 03
EXHIBIT A
NOTICE OF INTENT TO EXERCISE
LOCAL TRANSIT TAX LEVY OPTIOI; FOR
TAXES PAYABLE IN 1999
The State Commissioner of Revenue and the Metropolitan Council are hereby notified that the City
of Chanhassen, Minnesota, intends to exercise the local transit tax levy option for taxes levied in
1998 and payable in 1999 pursuant to Laws of Minnesota for 1996, Chapter 455, Section 4.
The proposed amount of the City's transit tax for the 1998 levy year is S707,744, or the 1998 levy
amount($614,504)multiplied by the maximum levy limit for the City of Chanhassen, whichever is
less, all in accordance with Laws of Minnesota for 1996, Chapter 455, Section 4, for taxes levied
by the City in 1998 and payable in 1999.
By order of the City Council of the City of Chanhassen.
City of Chanhassen
Payable 1999 Transit Services Levy Limitation
for Operating Costs and Capital Expenditures
M. S. 473.388, Subd. 7)
1. Payable 1998 Levy Limit * $ 614,504
2. Payable 1997 Total Taxable Market Value ** $ 1,060,331,500
3. Payable 1998 Total Taxable Market Value ** $ 1,221,217,200
4. Payable 1998/Payable 1997 City Market Value Ratio (3/2) 1.151732
5. Payable 1999 Levy Limit(1 x 4) * $ 707,744
* Before HACA reduction.
** Includes tax increment values, fiscal disparity values, and powerline credit values.
However, the amounts shown are after(1) limited market value adjustments and(2)
market value exclusions for improvements made to qualifying homestead property
("This Old House" exclusions).
Prepared by: Minnesota Department of Revenue
Property Tax Division
May 22, 1998