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DISCUSSION: <br /> Current levy rates are limited to a 1% increase per year,plus new construction. Recent <br /> historic high inflation has eroded the purchasing power for maintenance and road <br /> construction projects on public infrastructure. A proposed levy lid lift is presented to <br /> provide stability of maintenance and construction of County roads and bridges. Rate <br /> scenarios have been developed by Public Works, with input from the consultant(Consor) <br /> levy survey and input efforts. <br /> The proposal for a levy lid lift is a single-year lift with the new dollar amount then being <br /> used for future assessments (Exhibit 1). The permanent single-year lid lift would increase <br /> the levy amount and then establish a new base for the one-(1) percent annual allowable <br /> increase. With a permanent sing-year lid lift, the levy lid bumps up more than 1% in the <br /> first year, and then that amount is used to calculate all future 101% levy limitations. The <br /> measure does not expire, and the levy lid does not revert. Future annual increases may <br /> not exceed 1%without a vote to approve another lid lift. <br /> Current Levy Rate: $0.77 per$1,000 of assessed value <br /> Proposed Levy Rate: $1.01 per$1,000 of assessed value <br /> Single levy increase used for future assessments <br /> It is proposed that this levy lid lift be placed on the November 2024 General Election. <br /> Taxes levied in November are first due in April the following year. <br /> FISCAL IMPACT: <br /> Consideration of divesting from infrastructure assets must be considered without <br /> additional funds to the road fund. <br /> HANDLING: <br /> Return one original <br /> ATTACHMENTS: <br /> Resolution, Exhibit 1 Permanent Single-Year Levy Lid Lift <br />