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RESOLUTION PROPOSING THE SUM TO BE RAISED BY TAXATION FOR THE SPECIAL TAXING DISTRICT, HOUSING AND REDEVELOPMENT AUTHORITY, FOR THE YEAR 2027.
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CITY PROPOSAL:
RESOLVED, that pursuant to Minnesota Statutes, Section 469.033, subdivision 6, the City Council adopts the following proposed property tax levy:
Section 1. The sum to be raised by taxation for the year 2027 for the housing and redevelopment authority taxing district’s operation is hereby determined to be the sum of $2,252,987 which sum is levied against the taxable property of the city of Duluth and appropriated to the various accounts as set forth in the following sections, see Exhibit A.
Section 2. That pursuant to Minnesota Statute 469.033, subdivision 6, there will be levied for the purpose of providing for the housing and redevelopment authority special taxing district the sum of $2,252,987.
Statement of Purpose
STATEMENT OF PURPOSE: The HRA may levy a tax upon all taxable property within the taxing district subject to the consent by resolution of the City Council. Unlike other City property tax levies which require an ordinance, this resolution completes the process to certify the final 2027 property tax levy for the Housing and Redevelopment Authority and will not return in December.
The full levy allowable by law in Minnesota State Statute 469.033, subdivision 6 of .0185 percent of estimated market value for 2027 equals $2,253 Million. The HRA proposes to keep its tax rate at 0.0185 percent. This will capture a gain of $184,098, or an increase of 8.9%.