RES 2024-69 Adopting a Preliminary Property Tax Levy for Taxes Payable in 2025CITY OF OTSEGO
COUNTY OF WRIGHT
STATE OF MINNESOTA
RESOLUTION NO: 2024-69
ADOPTING A PRELIMINARY PROPERTY TAX LEVY
FOR TAXES PAYABLE IN 2025
WHEREAS, the Otsego City Council is required by State Statute to establish a preliminary tax levy for taxes payable in 2025 by
September 30, 2024 and certify the preliminary tax levy to the Wright County Auditor; and
WHEREAS, the Otsego City Council has reviewed the City's anticipated expenditures for funds using property tax proceeds in
2025; and
WHEREAS, the Otsego City Council has considered projected revenues for funds using property tax proceeds in 2025; and
WHEREAS, revenues from sources other than property taxes are not sufficient to meet the anticipated expenditures of said
funds; and
WHEREAS, the debt levies have been adjusted based on revenue collections and projections.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF OTSEGO, MINNESOTA:
1. That the following amounts are the maximum to be levied as property taxes payable in 2025 for the following
purposes:
General Revenue $7,058,000
Tax Abatement 80,212
GO Improvement Bond, 2018A 104,308
GO Improvement Refunding Bond, 2020A 186,000
Capital Improvement Plan 2,3051126
Total Tax Levy 9 733 646
ADOPTED by the Otsego City Council this 23rd day of September, 2024.
MOTION BY: Moores
SECONDED BY: Dahl
IN FAVOR: 5tockamp, Dahl, Goede,
OPPOSED: Dunlap
and Moores
i�
CITY OF OTSEGO
ATTEST:
Audra Etzel, City Clerk