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MINNESOTA• REVENUE <br /> December 19, 2008 <br /> PEQUOT LAKES <br /> CLERK-TREASURER <br /> CITY HALL <br /> 463 8 COUNTY RD 11 <br /> PEQUOT LAKES,MN 56472 <br /> RE: Unallotment of Aids/Credits Impacting December 26,'Payment--URGENT! <br /> This is the only letter sent to your city. Please forward to the appropriate contacts! <br /> As a necessary measure to balance the state budget,Governor Tim Pawlenty announced today that$110 <br /> million of state aids and credits would be unallotted from the December 26, 2008,payment of aids and <br /> credits to cities and counties. To avoid severe consequences for small cities and counties that may have <br /> less flexibility in coping with a cut, Governor Pawlenty exempted cities with a population under 1,000, <br /> and counties with a population under 5,000, from any unallotment. For the remaining cities and counties, <br /> $66 million of the reduction will be made to cities and$44 million to counties through Local Government <br /> Aid(LGA),County Program Aid(CPA), and Market Value Homestead Credits(MVHC). <br /> For your city, PEQUOT LAKES,the impact of this unallotment is as follows: <br /> Certified Certified Actual Actual <br /> December 26`h December 26h December 26th December 26ffi <br /> LGA MVHC Unallotment LGA MVHC <br /> Payment Payment Amount Payment Payment <br /> ------------------ ----------------- ---------------- ---------------- --------------- <br /> $ 44,020 $ 32,763 $ 63,078 $ 0 $ 13,704 <br /> The unallotment amount is computed as uniform percentage(4.08%)of city levy plus aid. "Levy plus <br /> aid" includes levies as reported to the Department of Revenue by counties on the Abstract of Tax Lists <br /> and includes both LGA and taconite aid. <br /> The unallotment amount is first deducted from any LGA that a city may be scheduled to receive. If the <br /> unallotment amount exceeds LGA,the remainder of the unallotment amount is taken from MVHC. For <br /> some cities,the unallotment amount exceeded the total of both LGA and MVHC, leaving those cities with <br /> a cut that was a smaller percentage of their levy plus aid. <br /> Additional information on the unallotment calculations can be found on our website <br /> (www.taxes.state.mn.us). If you have questions about the payments that are not answered by the posted <br /> information,please contact Shawn Wink(shawn.wink@state.mn.us or 651-556-6095). <br /> Sincerely, <br /> Jason Nord <br /> State Program Administrator Director <br /> Property Tax Division <br /> Mail Station 3345 Fax: 651-556-3128 <br /> St.Paul,MN 55146-3345 rrr: Call 711 for Minnesota Relay <br /> An equal opportunity employer <br />