5.1.
HRA Regular Session
- Meeting Date:
- 12/11/2012
- By:
- Diana Lund, Finance
Information
Title:
Adopt Resolution Approving Final 2013 HRA Levy
Background:
Each “taxing authority” must certify its final property tax levy for payable 2013 to the County Auditor by December 28, 2012.
ANALYSIS:
On March 5, 2005 the City Council established a Housing and Redevelopment Authority (HRA). The HRA bylaws state that the makeup of the HRA will be the Ramsey City Council.
For Budget Year 2012, the HRA adopted a maximum levy of $368,549. For Payable 2013, the maximum allowable levy is $328,567 (.0185% of total taxable market value of $1,776,037,837).
On September 11, 2012 the HRA adopted a preliminary levy in the amount of $187,268 to cover the basic operating costs of the HRA and that any expenses related to the COR would need to be paid from future land sales.
A taxpayer home valued at $200,000 would be paying $21.09 towards the levy. The levy will be used for ongoing costs associated with the basic operating costs of the HRA: designated personnel, general liability and approximately $48,000 of maintenance costs related to the maintenance of the parking ramp.
ANALYSIS:
On March 5, 2005 the City Council established a Housing and Redevelopment Authority (HRA). The HRA bylaws state that the makeup of the HRA will be the Ramsey City Council.
For Budget Year 2012, the HRA adopted a maximum levy of $368,549. For Payable 2013, the maximum allowable levy is $328,567 (.0185% of total taxable market value of $1,776,037,837).
On September 11, 2012 the HRA adopted a preliminary levy in the amount of $187,268 to cover the basic operating costs of the HRA and that any expenses related to the COR would need to be paid from future land sales.
A taxpayer home valued at $200,000 would be paying $21.09 towards the levy. The levy will be used for ongoing costs associated with the basic operating costs of the HRA: designated personnel, general liability and approximately $48,000 of maintenance costs related to the maintenance of the parking ramp.
Recommendation:
Adopt Resolution approving the final 2013 HRA levy in the amount of $187,268.
Funding Source:
The HRA budget is supported by the HRA tax levy.
Council Action:
Motion by Commissioner and seconded by Commissioner to adopt Resolution #HRA-12-XX authorizing approval of the final 2013 HRA levy in the amount of $187,268.
Attachments
Form Review
| Inbox | Reviewed By | Date |
|---|---|---|
| Kurt Ulrich | Kurt Ulrich | 12/05/2012 03:15 PM |
- Form Started By:
- Diana Lund
- Started On:
- 11/29/2012 08:00 AM
- Final Approval Date:
- 12/05/2012