BY COUNCILOR STEWART:
The city of Duluth does ordain:
Section 1. The sum to be raised by taxation for the year 2008 for Duluth transit authority taxing district’s operations is hereby determined to be the sum of $1,316,900 which sum is levied against the taxable property of the city of Duluth and appropriated to the various accounts as set forth in the following sections, viz:
Section 2. That pursuant to Minnesota Statutes, Section 458A.31, Subd.1, there will be levied for transit operations the sum of $1,316,900.
Section 3. That this ordinance shall take effect January 1, 2008.
STATEMENT OF PURPOSE: This ordinance sets the proposed property tax levy for the year 2008 for the special taxing district, Duluth transit authority (DTA). Although the transit authority is a special taxing district per Minnesota Statute 275.066, the city is obligated through council action to levy on their behalf.
The full levy allowable by law in Minnesota State Statute 458A.31 of .07253 percent of market value for 2008 is $3,824,500 offset by the amount of debt service on transit bonds in the amount of $88,400 for a total possible levy request of $3,736,100. The DTA, in reviewing their needs for 2008, however, is opting not to request the full levy available. Instead, the DTA is requesting $1,316,900 for the fourth consecutive year.