This resolution establishes the city property tax mill levy rates for the Public Safety Fund (51.11 mills), General Obligation Debt Service Parks (.59 mills), General Obligation Debt Service Streets (2.08 mills), General Obligation Debt Service Library (6.12), General Obligation Debt Service Series A Baseball Stadium (5.05 mills) and General Obligation Debt Service Series B Baseball Stadium (.63 mills) for the 2012 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 2012 will be 174.58, which is 5.85 mills more than tax year 2011. This increase in the total mill levy rate is due to the new General Obligation Service Debt for the Library of 6.12 mills. However, the other General Obligation Debt Service mills have decreased resulting in a net effect of a 5.85 mills increase due to cash received from the collection of delinquent taxes.

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 174.58 mills would result in a City property tax of about $471 for 2012 compared to $456 for 2011.

Staff recommends that the City Council hold the public hearing and approve the resolution setting the mill levy rates for tax year 2012.