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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 2019.
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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 2019 for the housing and redevelopment authority taxing district’s operation is hereby determined to be the sum of $1,115,956 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 $1,115,956.
Statement of Purpose
STATEMENT OF PURPOSE: This resolution sets the proposed property tax levy for the year 2019 for the special taxing district, Housing and Redevelopment Authority (HRA).
The full levy allowable by law in Minnesota State Statute 469.033, subdivision 6 of .0185 percent of estimated market value for 2019 is in excess of $1.2 Million. The HRA, in reviewing their needs for 2019, is opting not to request the full levy available. Instead, the HRA is requesting $1,115,956or .0179% of the taxable market value.