| | | | | | | |  Shakopee City Council December 18, 2018
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| | | | | | | | | FROM: | Darin Nelson, Finance Director | | TO: | Mayor and Council Members |
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| | | | | | | | Subject: Consideration of 2018 Property Tax Levy Collectible in 2019, the 2019 Debt Service Cancellations Specific to Certain Debt Issuances and the 2019 Budget, Res. Nos. R2018-141, 142 and 143.
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| | | | | | | | Policy/Action Requested: Adopt Resolution Nos. R2018-141, 142 and 143, approving the 2018 property tax levy collectible in 2019, the 2019 budget, and the 2019 debt service cancellations specific to certain debt issuances.
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| | | | | | | | Recommendation: Approve the resolutions as requested. | | |
| | | | | | | | Discussion:
The budget process for city covers an extensive period of the calendar year. The process began in May with public input meetings followed by a series of council work sessions throughout the summer and fall to review capital and operational budgets. The Truth-in-Taxation meeting was held a the December 4th council meeting where a presentation on the levy and budget was presented to the Council and the public.
The final step in the process is the Council approving the levy and budget. There have been no changes to the budget document since the last council meeting. Staff is recommending approval of a final 2018 levy collectible with 2019 property taxes of $19,230,500. This is a tax levy reduction of $30,048 or 0.16% from the 2017 levy. Staff is also recommending approval of the 2019 budget and the 2019 debt service cancellations.
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| | | | | | | | Budget Impact: The tax levy and budget provide the operational and capital funding for 2019. | | |
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