| | | | | | | |  Shakopee City Council December 19, 2017
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| | | | | | | | | FROM: | Darin Nelson, Finance Director | | TO: | Mayor and Council Members |
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| | | | | | | | Subject: Consideration of 2017 Property Tax Levy Collectible in 2018, the 2018 Debt Service Cancellations Specific to Certain Debt Issuances and the 2018 Budget, Res. Nos. 7951, 7953 and 7954. | | |
| | | | | | | | Policy/Action Requested: Adopt Resolution Nos. 7951, 7953 and 7954, approving the 2017 property tax levy collectible in 2018, the 2018 debt service cancellations specific to certain debt issuances and the 2018 budget. | | |
| | | | | | | | 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 5th 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 2017 levy collectible with 2018 property taxes of $19,610,548. This is a reduction of $154,676 from the preliminary levy. Staff is also recommending approval of the 2018 budget and the 2018 debt service cancellations. | | |
| | | | | | | | Budget Impact: The tax levy and budget provide the operational and capital funding for 2018. | | |
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