This resolution establishes the city property tax mill levy rates for the Public Safety Fund (50.75 mills), General Obligation Debt Service Parks (.89 mills), General Obligation Debt Service Streets (2.17 mills), and General Obligation Debt Service Series A Baseball Stadium (5.15 mills) and General Obligation Debt Service Series B Baseball Stadium (.77 mills) for the 2011 tax year. These levies are based on the certified taxable valuation from the Montana Department of Revenue.

The total mill levy rate for tax year 2011 will be 168.73, which is 2.69 mills less than tax year 2010. This decrease in the total mill levy rate is due to the increase in Certified Taxable Value.

The Council must hold a public hearing and then may:

• Approve the resolution; or
• Not approve the resolution.

Applied to a $200,000 home, the 168.73 mills would result in a City property tax of about $457 for 2011 compared to $465 for 2010.

Staff recommends that the City Council hold the public hearing and approve the resolution setting the mill levy rates for tax year 2011.