City Of Arden Hills issued the following announcement on Jan. 29.
The annual truth-in-taxation hearing was held on December 9 at Arden Hills City Hall. City staff presented information regarding the 2020 budget and tax levy.
The City Council adopted a 2020 property tax levy of $4,135,340. This sets the city’s property tax levy increase for 2020 at 5 percent, which is the same as the preliminary levy rate set in September 2019.
In 2020, the city tax rate is projected to be reduced by 1.5 percent. The tax rate is just one factor in calculating a tax bill, and with property values rising, many property owners will see their tax bills rise to reflect the new higher value of their property. Home values are determined by the Ramsey County Assessor’s Office.
The impact of a 5 percent levy increase translates to a $57.06 increase in annual city taxes paid by resident owners of median valued homes.
Arden Hills continues to have one of the lowest tax rates in Ramsey County. In Arden Hills, the levy is split between the General Fund ($3,665,340), the Economic Development Authority Fund ($100,000) and Capital Funds ($370,000).
The Council adopted a 2020 city budget of $13,526,110, which includes the General Fund, Capital Funds and Utilities.
Revenues
General Fund revenues in the 2020 budget are set at $4,896,720. The property tax levy accounts for approximately 74 percent of the General Fund revenues and will be increased 4.2 percent or $146,920 over the previous year.
Expenditures
General Fund expenditures for 2020 total $5,018,310.
Public Safety costs are set to increase by 8.2 percent for the Lake Johanna Fire Department, 7.7 percent for the Ramsey County Sheriff contract.
Staff position changes resulted in a savings to the 2020 budget.
The approved budget and tax levy information can be viewed in detail in the December 9 City Council Agenda.
Original source can be found here.
Source: City Of Arden Hills
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