Pine City: Budget Down, Taxes Up

Thursday, December 4th, 2008 at 7:25 am

The city of Pine City held their annual Truth-In-Taxation hearing, Wednesday, prior to the monthly city council meeting. City Administrator, Don Howard, presented the proposed 2009 budget and taxes.

The City is looking at an increase in property taxes of 6.11-percent. The Minnesota legislature approved a 3.9-percent levy cap. Howard says the city is within the cap, because any increase in debt service is not accounted for in the 3.9-percent. He says the city has about a $16,000 increase for debt service. Also, local government aide (LGA) is not counted against the city. Pine City’s LGA increased by $19,000

A continuation hearing is scheduled for Wednesday, December 10th at 6:00 pm at city hall.

BUDGET

Proposed 2009 Budget

2,340,896.00

2008 Total Actual Budget

2,404,615.13

Change from 2008-2009

-2.65%

TAXES

2009 Proposed Property Taxes

1,929,551.00

2008 Property Taxes

961,822.13

Change from 2008-2009

6.11%

LOCAL TAX RATE COMPARISON

2009 Tax Rate if No Levy Increase

33.75%

2009 Proposed Tax Rate

36.21%

2008 Tax Rate

34.70%

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