Anoka has put its final stamp of approval on the 2014 budget tax levy, which does not include a tax increase for property owners for the fifth year in a row.
The 2014 tax levy is a 2.5 percent decrease over 2013.
For an average home in Anoka valued at $146,900, there will be a reduction in city taxes of $76, or 11 percent, for a total city tax of $614.
“Most people saw at least a 9 or 10 percent decrease in their total taxes for 2014,” said Finance Director Lori Yager during a public hearing on the budget earlier this month.
Anoka County cut $2 million from its levy for 2014, along with a $6.5 million cut from the Anoka-Hennepin School District.
Anoka received more than $600,000 in additional Local Government Aid for 2014.
“Kudos to the state for finally increasing our aid,” said Yager. “I think that had a large impact on the effect of the taxes.”
This boost in LGA has helped offset any increases in the city’s operating costs.
The city will collect $5,712,265 from its taxpayers in 2014, a reduction of $143,840.
At the public hearing regarding the city’s levy and budget earlier this month, no one appeared.
Anoka’s $59.23 million budget is 9 percent lower than 2012, largely because construction of the $10 million parking ramp was included in this year’s budget.
In the general fund $11.34 million budget, the council has budgeted to use $1.22 million in fund balance to help cover capital investments in the general fund, contingency budgeting, transfers to park capital for investment in city parks and transfer to information services for computer capital investment, according to Yager.
“The city of Anoka residents are going to have, I predict, a fairly significant decrease in their taxes payable which will be kind of refreshing,” said Councilmember Jeff Weaver.
Mandy Moran Froemming is at [email protected]