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AGENDA ITEM #4 <br /> REPORT TO <br /> CITY COUNCIL <br /> Date: December 6, 2005 <br /> Subiect: Truth In Taxation Hearing <br /> Report: The City's Truth In Taxation Hearing is scheduled for 6:00 <br /> p.m. The purpose of the hearing is to review the City's general fund budget <br /> and levy and to receive public input. <br /> The proposed tax levy for taxes payable in 2006 is $1,300,000 which is an <br /> `-- increase of$200,000 from 2005. <br /> The increased levy is funded by a slight increase in the City's tax rate <br /> (1.81% for the general service area and .90% for the rural service area) and <br /> from additional property value through both new construction and increases <br /> in the value of existing property. <br /> Council Action Requested: <br /> ■ Review Budget and Levy Information <br /> ■ Open Public Hearing/Close Public Hearing <br /> ■ Adopt Resolution Approving 2006 General Levy <br /> ■ Adopt Resolution Approving 2006 HRA Levy <br /> ■ Adopt 2006 General Fund Budget <br /> ■ Adopt 2006 non-levy Budgets <br />