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Lonsdale keeps levy at 0% for third year
For the third year in a row, the Lonsdale City Council is keeping the city’s total budget the same, with no increase to the property tax levy. This means any property tax increases seen by Lonsdale tax payers will be from increasing county valuations and other taxing authorities.
At the regular meeting held Thursday, Sept. 12, the council approved the 2014 preliminary budget and levy in Resolution 2013-38. City Administrator Joel Erickson said the council held four budget meetings throughout the summer with the main goal of keeping the property tax levy at 0%. They also focused on continuing the City’s capital Improvement Plan (CIP), continuing street maintenance, park improvements, and the water and sewer capital improvement project.
A summary of the 2014 preliminary property tax levy and budget are made up of the General Fund at $1,000,637 and Debt Service at $648,498 for a total budget of $1,649,135. Even with a $14,777 increase to Debt Service due to the construction of the business park, the council was able to offset it to keep from raising the levy and budget.
“The city council and I are firm believers in holding the line on spending,” Mayor Tim Rud later stated. “We, the city council and staff, have done a lot of work to the budget and finances to keep the city in a very healthy financial condition.”
Rud went on to state that because of how they’ve managed the finances over the years, the city’s A+ rating may be increased to A++. “This is remarkable because we have succeeded through difficult economic times while continuing to do improvements to better our city.”
- The council approved a bid in the amount of $2,162,261 from Heselton Construction, LLC for construction of Phase I of the business park project. Erickson said he expected construction to begin early next month.
- The council authorized the issuance, sale and payment of General Obligation Improvement Bonds Series 2013B in the amount of $2,735,000 for the construction of the business park.