| | | | | | | | CITY COUNCIL STAFF REPORT Monday, September 28, 2020 |
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| | | | | | | | Subject | Set Preliminary Tax Levy
| Section | NEW BUSINESS | Item No: I.1. | Prepared By
| Greg Sticha, Finance Director | File No: |
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| | | | | | | | PROPOSED MOTION
"The City Council adopts the attached resolution establishing a preliminary levy of $12,066,700 and sets a date for the Truth-in-Taxation hearing of December 7, 2020 at 7:00 pm."
Approval requires a Simple Majority Vote of members present. |
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| | | | | | | | BACKGROUND |
Over the past couple of months staff has reviewed with the City Council multiple budget scenarios. Those scenarios included some discussions of potential adjustments to various services in order to achieve some of those scenarios. To allow for the most flexibility between now and setting the final levy in December, staff is recommending scenario #1 ($12,066,700), which would be a 2.77% increase in the levy from the prior year. There are some factors that could ultimately lower this levy amount between now and December, but to allow for the most flexibility staff recommends scenario #1 as the maximum tax levy. |
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| | | | | | | | RECOMMENDATION |
The City Council adopts the attached resolution establishing a preliminary levy of $12,066,700 and sets a date for the Truth-in-Taxation hearing of December 7, 2020 at 7:00 pm. |
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