Regional Railroad Authority Board Action Request
Set the 2019 HCRRA maximum property tax levy and the proposed 2019 budget; participate in Hennepin County’s Truth-In-Taxation Hearing
BE IT RESOLVED, that the Hennepin County Regional Railroad Authority (HCRRA) Board of Commissioners sets the maximum property tax levy for year 2019 at $36,000,000 with a proposed budget of $44,593,000, and that the maximum property tax levy be certified to the County Auditor; and
BE IT FURTHER RESOLVED, that pursuant to Minnesota Statutes §275.065, Subd. 3(i), the proposed 2019 levy and budget for the HCRRA shall be discussed at the Hennepin County's Truth-In-Taxation Hearing to be held at 6:00 p.m. on Tuesday, November 27, 2018; and
BE IT FURTHER RESOLVED, that adoption of the HCRRA's final 2019 property tax levy and 2019 budget shall take place at the HCRRA Board Meeting immediately following the 1:30 p.m. Board of Hennepin County Commissioners Meeting to be held on, Tuesday, December 11, 2018, in the Hennepin County Board Room.
History: The Hennepin County Regional Railroad Authority (HCRRA) has the authority to levy a tax on taxable market value in Hennepin County. Pursuant to state statute, the HCRRA must approve a maximum property tax levy and a proposed budget for 2019 by September 30, 2018.
The proposed 2019 HCRRA budget is $44,593,000 and the maximum tax levy is $36,000,000 (a 0% tax levy increase compared to last year). While the final approved budget may be higher than the one proposed, the final tax levy adopted in December cannot exceed the proposed tax levy which is adopted today.
The proposed 2019 HCRRA budget supports:
capital projects which include the Southwest Light Rail Transit, Bottineau Light Rail Transit, and Orange Line Bus Rapid Transit
corridor maintenance, participation and administrative activities