12-13-2022 TNT Council AgendaRICHFIELD MUNICIPAL CENTER, COUNCIL CHAMBERS
DECEMBER 13, 2022
6:00 PM
Call to order
PUBLIC HEARINGS
1.Conduct a truth in taxation public hearing regarding the 2023 property tax levy and 2022 Revised/2023 Proposed
Budget and proposed 2023 utility rates.
Staff Report No. 188
2. Adjournment
Auxiliary aids for individuals with disabilities are available upon request. Requests must be made at
least 96 hours in advance to the City Clerk at 612-861-9739.
AGENDA SECTION:PUBLIC HEARINGS
AGENDA ITEM #1.
STAFF RE P ORT NO. 188
CIT Y COUNCIL ME E T ING
12/13/2022
RE P O RT P RE PA RE D B Y: K umud Verma, F inance Manager
D E PA RTME NT D IRE C TO R RE V IE W:
O THE R D E PA RTM E NT RE V IE W:
C ITY MA NA G E R RE V IE W: K atie Rodriguez, C ity Manager
12/7/2022
I T E M F O R C O UNC IL C O NS ID E RAT I O N:
Conduct a truth in taxation public hearing regarding the 2023 property tax levy and 2022 Revised/2023
Proposed Budget and proposed 2023 utility rates.
E X E C UT IV E S UM M ARY:
At the September 13, 2022 City Council meeting the City Council adopted the 2023 preliminary property tax
levy and announced December 13 at 6:00 p.m. as the date and time for the statutory truth in taxation public
hearing.
Hennepin County has mailed the proposed 2023 property tax statements to property owners in Richfield,
which are based upon the proposed levy and announce the date of the public hearing.
RE C O M M E ND E D AC T I O N:
Conduct and close the truth in taxation public hearing and by motion: schedule final action on the 2023
property tax levy and 2022 Revised/2023 Proposed Budget and proposed 2023 utility rates, for the
regular City Council meeting of December 13, 2022.
B AS IS O F RE C O M M E ND AT I O N:
A.H IS TOR IC AL C ON T E X T
None
B.P OL IC IE S (resolutions, ordinances, regulations, statutes, etc):
Counties, cities over 500 population, school districts, and metropolitan special taxing districts are
required to hold a single meeting which the public is allowed to speak and the budget and levy is
discussed.
This meeting may be part of a regularly scheduled meeting but must occur after 6:00 p.m.
Minnesota Statutes mandates that the truth in taxation public hearing must be conducted between
November 25 and December 28, 2022.
The City has chosen to conduct the truth in taxation meeting on December 13, 2022 at 6:00 p.m.
The requirement to publish a notice of a Truth in Taxation hearing and proposed property tax levy is no
longer required.
C.C R IT IC AL T IMIN G IS S U E S:
Schedule the final adoption action for the 2022 Revised/2023 Budget and tax levy and utility rates for
December 13, 2022.
The City must adopt their final payable 2023 property tax levies and their proposed 2023 budgets no later
than December 28, 2022.
D.F IN AN C IAL IMPAC T:
The preliminary gross tax levy for taxes payable 2023 is $26,784,573.
The gross tax levy represents a 6.60% increase from the 2022 gross levy.
The City’s tax capacity rate is anticipated to decrease from 53.680% to 51.659%.
I ncluded in the 2023 preliminary gross levy is a levy to fund the purchase of rolling stock and technology
equipment of $868,400, a levy to fund the Economic Development Authority of $579,096, and a debt
service
levy of $4,100,600.
E.L E GAL C ON S ID E R AT ION:
The City has scheduled December 13, 2022 for the TNT hearing and for the official adoption of the final
levy and budget.
Final adoption of the payable 2023 property tax levies must be completed by December 28, 2022.
ALTE R N AT IV E R E C O MME N D ATIO N(S):
None
P R IN C IPAL PAR TIE S E X P E C TE D AT ME E TIN G:
N/A