Laserfiche WebLink
City of <br />�. <br />Pequott <br />Lakes.— <br />I.N., <br />REPORT TO <br />ITEM #3.1. <br />CITY COUNCIL <br />Date: October 13, 2009 <br />Subject: Preliminary Tax Levy — City Tax Rate <br />Report: The City received the information from the <br />County that is needed to determine how the general fund <br />levy will affect the City's tax rate. The County information <br />shows a reduction in the net tax capacity from last year of <br />approximately $186,000. This will have a negative affect <br />on the City tax rates with the existing preliminary levy. <br />What this means is that the City tax rate will increase by <br />6.135% and the Rural Service Tax Rate will increase by <br />3.068 %. <br />Please refer to the attached form prepared by Nancy <br />Malecha "Tax Rate & Levy Summary by Year." This form <br />shows the trends in the City's tax rate and levy amounts <br />from 2004 to present. According to the attachment, if the <br />Council wanted to keep the tax rate at the same rate as <br />2009, there would have to be a reduction of $131,690 from <br />the existing preliminary levy. <br />