City Council approves proposed levy
Published 9:14 am Tuesday, September 14, 2010
Required by state law to pass a proposed tax levy before Sept. 15, the Albert Lea City Council on Monday approved a proposed levy of less than a third of what the state levy limits would allow.
Specifically the proposed tax levy called for an increase by about $150,000, making the total proposed levy $5.227 million. This includes expenses to operate the general fund, public improvement revenue bond debt service, and capital improvement bond debt service fund.
The council could have proposed an additional $353,000 increase.
When it passes its final budget and levy in December, the council may choose to lower the levy, but it cannot raise it any higher.
The proposed levy is traditionally set at the highest amount the council would consider raising it by until the final budget is approved.
Second Ward Councilor Larry Baker said he just wanted to remind people that the action taken Monday was only proposed. It does not necessarily mean this is where the final levy will be set.
The proposed levy would result in an estimated annual city tax of $387 to a home valued at $100,000. It was unknown as of press time how much of an annual increase this would include.
The vote passed 6-1, with 6th Ward Councilor Al Brooks being the only opposing vote.
Look to future editions of the Tribune for more in-depth stories about the proposed budget.