From
Brady Olsen
Title
Place a proposal on the September 15, 2020 agenda to adopt a 2020 proposed tax rate of $0.669998/$100 valuation and call a public hearing on a tax rate that may exceed the ‘no new revenue’ tax rate
Presenter
Brady Olsen
Recommended Action
Approve
Analysis
The state property tax code requires the City to make proposed tax rate information available to citizens and provide the public an opportunity to comment. This process begins with the city setting a date and time to hold a public hearing and consider the proposed tax rate. The public hearing and tax rate adoption is recommended to be on September 15, 2020 as a regular, scheduled council meeting date.
Municipalities are required to publish their tax rates and other schedules in the newspaper, various websites and on government access channel, depending on level of tax rate being considered. Staff will monitor those new requirements and ensure compliance. Staff will advise Finance and Government and City Council of our legally calculated rates and what will get posted.
The proposed level of the tax rate also determines if specific statements that have to appear in the budget, how a vote must be taken, the specific motion that has to be made, and other procedural requirements. Staff will advise City Council of those steps as we progress through the new legal process. It is important to note that adopting a tax rate in excess of the "Voter Approval Rate" (formerly the rollback rate) would trigger a mandatory election and would have to follow a different calendar. The proposed date herein does not allow time to call such an election and therefore the City would not be able to adopt a tax rate at that level.
Financial Consideration
None