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AGENDA ITEM #10.1 <br /> city of <br /> Pequot <br /> Lakes <br /> REPORT TO <br /> CITY COUNCIL <br /> Report Prepared by: Nancy Malecha <br /> Date: October 6, 2015 <br /> Subject: 2016 Budgets <br /> Report: The attached form entitled "2016 Proposed <br /> Budget Changes to Tax Levy Funds" lists the changes that <br /> are being proposed to the 2016 budgets. The first table of <br /> changes present a $46,020 reduction in the levy which <br /> results in a preliminary general revenue tax levy of <br /> $1,603,225. This is an increase of 7.49% from the 2015 <br /> levy. Also, this equates to a General City tax rate decrease <br /> of 3.149% and a Rural Service tax rate increase of 7.082%. <br /> The second table of changes present reductions in the <br /> Water and Sewer funds of$2,260 each. <br /> Also, the City's taxable tax capacity increased by $53,708 <br /> for payable 2016. <br />