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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 2024.
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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 2024 for the housing and redevelopment authority taxing district’s operation is hereby determined to be the sum of $1,706,267 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 $1,706,267.
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 2024 property tax levy for the Housing and Redevelopment Authority.
The full levy allowable by law in Minnesota State Statute 469.033, subdivision 6 of .0185 percent of estimated market value for 2024 is in excess of $1.867 Million. The HRA, in reviewing their needs for 2024, is not opting to request the full levy available. Instead, the HRA is requesting $1,706,267 or a $142,291 increase, which is .0169 percent of the estimated market value.