Corcoran proposes 2.3% budget increase
The Corcoran City Council will conduct a public hearing on its 2013 city budget and on the amount of property taxes it is proposing to levy to pay for the costs of services the city will be provide in 2013.
The hearing will be Thursday, Dec. 13, 7 p.m. at Corcoran City Hall, 8200 County Rd. 116.
The total budget figures compare the city’s 2012 total actual budget with the amount the city proposes to spend in 2013. At this time the 2013 figures are estimates.
The 2013 total General Fund Budget expense is proposed at $3,505,825, an increase of $78,908 or 2.3% from 2012.
The 2013 property tax levy for general government and for debt service is proposed at $2,934,739, an increase of $153,619.
The following compares: the city’s 2012 property tax rate, the city’s property tax rate for 2013 if no levy increase is adopted, and the city’s proposed property tax rate for 2013.
The 2012 property tax rate was 39.617 percent.
The 2013 property tax average rate if there is no increase in property tax levy dollars is 43.967 percent.
The 2013 proposed average property tax rate is 46.158 percent.
Market values of residential properties in the city are down from 2012 almost 10%; and as a result most residential property owners will experience little if any overall property tax increases.
By way of a general example, residential properties located in the following school districts with a median valued residence (currently at $239,500) will see the following in their overall (all taxing jurisdictions) property tax bill: Rockford School District, average decrease of $125; Buffalo School District, average decrease of $132; Delano School District, average decrease of $246.
All Corcoran residents and concerned citizens are invited to attend the Public Hearing on the budget proposals and, express their opinions on the budget, the proposed amount of 2013 property taxes, and any other financial concerns.
The proposed 2013 City Budget is available for viewing on the city’s Web site: www.ci.corcoran.mn.us. Click on General Government and then Financials; or is available at the Corcoran City Hall.
The city council will not take action on the proposed budget at this meeting. The city council will consider all proposals, ideas, and concerns coming out of the hearing. The council will discuss and finalize the 2013 budget at its meeting Dec. 20. The city council must approve the 2013 city budget and property tax levy at this meeting.
Residents are also invited to send written comments. Address letters to: City of Corcoran, 8200 County Rd. 116, Corcoran, MN 55340; or by email to: email@example.com.