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12-04-06 TITDecember 4, 2006 Page 1 MINUTES OF THE HOPKINS CITY COUNCIL TRUTH-IN-TAXATION PUBLIC HEARING Monday, December 4, 2006 Mayor Maxwell opened the public hearing at 6:35 pm. Present were Mayor Maxwell and Council members Thompson, Halverson, Rowan and Youakim. City personnel present were City Manager Rick Getschow and Finance Director Christine Harkess. Christine Harkess, Finance Director and City Manager Getschow reviewed the budget and the assessment processes, how property taxes are determined and reviewed the proposed budget for 2007. The staff explained that recently the city has seen a shift of tax revenue from commercial properties and apartment buildings to residential properties due to the changes in the class rates that the state enacted a few years back. They also mentioned the phasing out of the limited market value and how some types of properties appreciate in value over others and how that affects people's taxes. Also noted was that the city's tax rate over the last three years has decreased from an approximate high in 2004 at 56% to a proposed 46% in 2007. Mayor Maxwell then opened the hearing to the public for comment. • Don Rosener, 618 West Park Valley Drive, asked questions regarding the assessment of properties and the sources of revenue that the city receives for funding services and capital improvements. Tom Greene, 14 Hawthorne Road, expressed concern over the amount of city taxes he pays as compared to those in nearby communities. He also asked some questions and made some comments regarding city services. Allan Breitbarth, 13 Seventh Avenue S., questioned the valuation of his particular property. Finance Director Harkess and City Manager Getschow discussed the process for contacting city assessors in regards to property values and also discussed different deferment programs for seniors in the city. A motion was made by Halvorson, seconded by Thompson to close the public hearing. The public hearing was closed at 7:47 pm. Next a motion was made by Halvorson, seconded by Thompson to adjourn the meeting at 7:47 pm. Rick Getschow, Secretary December 4, 2006 Page 2 ATTEST: Eugen well, Mayor