2022.12.13 CC Packet - Laserfiche WebLink

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December 6, 2022 Page 2 of 3 values were on the rise. She discussed the storm sewer improvement taxing districts for Lake Diane and Bicentennial Pond noting the funds raised were requested by the surrounding property owners. The next steps for the 2023 Budget were reviewed and it was noted the Council would approve the final budget on December 13, 2022. Motion by Councilmember Abdulle, seconded by Councilmember Dunsworth to open the Truth in Taxation Hearing. 5 Ayes, 0 Nays - Motion Carried The Budget Hearing was opened at 6:50 p.m. Mary Sullivan, 478 10th Avenue NW, explained she retired and move to New Brighton three years ago. She reported the taxes in Ramsey County were a shock from Dakota County, especially given the fact her home was only 840 square feet. She noted her property was valued at $296,300 for next year. She indicated she replaced her bath tub but did not add another bathroom to her home. She requested that the value of her home be reconsidered. Vivian Strowe, 2398 Aaron Court, explained she was in the baking industry and she recalled what happened to the housing market in 2008. She reported her property value has gone up significantly since she purchased her home in 2016. She discussed how inflation was impacting the budget and questioned what will happen when the housing market rights itself again in the future. Motion by Councilmember Allen, seconded by Councilmember Dunsworth to close the Truth in Taxation Hearing. 5 Ayes, 0 Nays - Motion Carried The Budget Hearing was closed at 6:54 p.m. Councilmember Allen explained he lived in the same neighborhood as Ms. Sullivan. He encouraged Ms. Sullivan to contact Ramsey County in order to have the value of her home reassessed. He commented further on how the value of homes has increased in the past two years. City Manager Massopust discussed how if the value of homes in New Brighton were to decline, the property taxes would go down for the home. Mayor Niedfeldt-Thomas thanked staff for the detailed presentation regarding the tax levy and budget for 2023. She thanked staff for all of their efforts on the budget and explained she appreciated how next year’s budget aligned with previous estimates. Finance Director Foschi commented further on how staff budgeted during the economic recession that occurred in 2008. She noted budgetary decisions would be made to reduce the impact on residents to ensure levy increases were low. She discussed how residential and commercial property values varied from year to year and how this impacted property taxes for the community. Councilmember Dunsworth described how the City of New Brighton conducted long term financial planning on behalf of the community to ensure the City had reserves in place in order to weather storms (such as the pandemic), should they occur. Councilmember Allen stated if the housing market were to collapse, Ramsey County would need to make adjustments to the housing values in the City. Mayor Niedfeldt-Thomas commented further on the reserves the City has in place for significant purchases or emergency situations. She then explained the City Council would be approving the 2023 tax levy and budget on Tuesday, December 13, 2022.