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AGENDA ITEM #5.3 <br /> City of <br /> Pequot <br /> Lakes= -- <br /> REPORT TO CITY COUNCIL <br /> Report Prepared by: Angie Duus <br /> Date: September l, 2020 <br /> Subiect: 2021 Preliminary Levy <br /> Report: Attached are the 2021 preliminary budgets and levies. The <br /> preliminary levies are as follows. <br /> • General Revenue Tax Levy- $1,828,455 ($38,595 increase, 2.16%) <br /> • Tax Abatement Levy - $18,080 ($613 decrease, -3.28%) <br /> • HRA Special Levy- $46,247 ($7,997 increase, 20.91%) <br /> The following information is included in the 2021 preliminary budgets and levies <br /> per the Council discussion from the August 19th Special City Council Meeting. <br /> • Cost of health insurance premiums — decreased the premium increase from <br /> 20%to 5% <br /> • Increased sale of assets from $0 to $25,000 <br /> • Decreased general building capital outlay by $20,600 <br /> • Decreased roads and streets contract services by $31,750 <br /> • Decreased roads and streets capital outlay by $ 17,100 <br /> The deadline for setting the preliminary levy is September 30th. The amount set for <br /> the preliminary levy cannot be increased after it has been set. <br /> Also, please remember that we will not receive projected t�rate information from <br /> Crow Wing County until sometime in October or November. The 2021 estimated <br /> tax rate percentage included on the attached Preliminary Budget Summary is based <br /> on our analysis only. <br />