The Anoka City Council gave its final stamp of approval to the city’s financial plan for 2013.
There will be no tax levy increase for property owners in Anoka next year when the city will collect $5,856,105 in property taxes, according to Finance Director Lori Yager.
This is a drop of $43,000 over this year’s levy.
“Generally the impact to the average valued home for city taxes should probably be a decrease of about $155 per year,” said Yager.
This is the fourth consecutive year Anoka has not increased its tax levy.
At a Dec. 3 public hearing on the city’s budget and levy, the council received no feedback from the public.
Residential property values decreased an average of 9 percent in Anoka with commercial values typically dropping 10 percent.
Spending will increase for the city of Anoka in 2013.
The $10.7 million general fund budget is up 7 percent for the coming year.
The city will use some reserve funds next year to balance the budget. The city will take in $64.5 million in revenues, but has $65.1 million in budgeted expenses, Yager said. The $600,000 gap will come from the city’s fund balance.
While the budget passed with little fanfare on Monday, it does mark the end of many months of planning by the city council and staff.
“We’ve worked this over pretty good,” said Councilmember Mark Freeburg during Monday’s final adoption.
Mandy Moran Froemming is at firstname.lastname@example.org