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City of <br />�. <br />Pequott <br />Lakes— <br />AGENDA ITEM #11.2. <br />REPORT TO <br />CITY COUNCIL <br />Date: November 3, 2009 <br />Subject: Preliminary Levy and Tax Rate <br />Report: At the October 13th Council Meeting, the Council <br />made additional cuts to the budgets as shown on <br />Attachment #1. These cuts to the general fund budget result <br />in the following: <br />• The 2010 tax levy would be at $1,481,800 <br />• An increase of .53% from the 2009 tax levy ($7,800) <br />• General City tax rate of 69.012% (3.998% increase <br />from 2009) <br />• Rural Service tax rate of 34.506% (1.999% increase <br />from 2009) <br />The Council then discussed the possibility of a 0% levy <br />increase and a possible 0% tax rate increase. It was <br />determined that this would be difficult to accomplish. <br />However, the Council requested staff to take another look <br />at their budgets and try to cut another 5% to 6% from each <br />