New Ulm Council to hold tax hearing Tuesday
NEW ULM – The New Ulm City Council will hold its first Truth in Taxation hearing on Tuesday. The hearing will be held at 6 p.m., following the regular New Ulm City Council meeting at 5 p.m. Both meetings will be held in the Council Chambers in New Ulm City Hall.
The Council will be considering a preliminary budget that includes changes made by the council in its September budget meeting. This budget includes a 3 percent property tax increase over last year.
The budget calls for $21,122,790 in revenues and expenditures, up $526,177 from last year’s budget of $20,596,613. That’s a 2.55 percent increase in 2014.
Revenue figures include $6,102,572 in property taxes, $4,222,711 in Local Government Aid, payments in lieu of taxes of $1,873,900 from the Public Utilities Commission, fund transfers of $4,317,473, and other revenue of $4,087,217. The city would also use $518,917 from its existing fund balance.
In its September budget meeting, the council approved increasing the property tax increase to lessen the impact on city fund balances.
The property tax levy would be an increase of $177,745 over last year’s budgeted figure of $5,924,827.
The budget calls for expenditures of $21,122,790. The biggest increase in expenditures would be in personal services across all departments, an increase of $305,406.
The breakdown for total budgeted expenditures in the 2014 preliminary budget shows increases of $271,792, in Administration, $147,646 for Police, $24,112 for Fire, $78,585 for Street, a decrease of $7,180 for Sewer, $10,086 in Engineering, a decrease of $33,287 for Airport, $10,560 for Cemetery, and $19,837 for Community Access.
The Library Fund would increase $3,831.
Park and Recreation expenditures would increase $86,318, with a $104,666 increase in Parks, and a decrease in the Rec Center expenditures of $55,552.
The council will go through the budget, and if it is unable to finish its deliberations on Tuesday it will continue the hearing on Tuesday, Dec. 10, at 6 p.m.