Final budget and levy set
The Rosemount City Council approved the final budget and levy for 2011 on Tuesday. After holding a public hearing the council unanimously approved the numbers.
Finance director Jeff May said the city's total budget for 2011 is $16,635,444 which includes the city's levies. The total proposed amount the city will tax residents is $10,962,151.
Those numbers bring good news to most residents, said May. The budget for 2011 will reduce the city share of taxes by $60 for the owner of median value home. That is in addition to the $77 reduction that passed in 2010.
To put that in perspective, the median family home paid $1,025 in city taxes in 2009 and will pay $888 in 2011, according to the staff memo to the council.
The median home value in Rosemount is $212,000 which is lower than previous years. The city's levy will decline by 1.59 percent and the overall reduction in the city funding needs is 2.54 percent.
The council started the budget process in Februrary a month early this year. The big reasons it was able to lower the city's share of taxes are declining home values in the city debt for the second year. Additionally. the council went through and reviewed the city's level of service and efficiency. That work reduced city spending by more than $90,000.
Before approving the budget council member Kurt Bills applauded city staff for their hard work.
"It's been a pleasure to watch Mr. May and Mr. Johnson work and buckle down."