RES 2025-47 Adopting a Preliminary Property Tax Levy for Taxes Payable in 2026CITY OF OTSEGO
COUNTY OF WRIGHT
STATE OF MINNESOTA
RESOLUTION NO: 2025-47
ADOPTING A PRELIMINARY PROPERTY TAX LEVY
FOR TAXES PAYABLE IN 2026
WHEREAS, the Otsego City Council is required by State Statute to establish a preliminary tax levy for taxes payable in 2026 by
September 30, 2025, and certify the preliminary tax levy to the Wright County Auditor; and
WHEREAS, the Otsego City Council has reviewed the City's anticipated expenditures for funds using property tax proceeds in
2026; and
WHEREAS, the Otsego City Council has considered projected revenues for funds using property tax proceeds in 2026; and
WHEREAS, revenues from sources other than property taxes are not sufficient to meet the anticipated expenditures of said
funds; and
WHEREAS, the debt levies have been adjusted based on revenue collections and projections.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF OTSEGO, MINNESOTA:
1. That the following amounts are the maximum to be levied as property taxes payable in 2026 for the following
purposes:
General Revenue
$7,802,000
Tax Abatement
108,624
GO Improvement Bond, 2018A
106,314
GO Improvement Refunding Bond, 2020A
186,000
Lease Revenue Bond, 2024A
1,339,065
Capital Improvement Plan
1,884,287
Use of Fund Balances
(220,152)
Total Tax Levy $11,206,138
1
ADOPTED by the Otsego City Council this 22nd day of September, 2025.
MOTION BY: Tanner
SECONDED BY: Goede
IN FAVOR: Stockamp, Goede, and Tanner
OPPOSED: Dunlap
CITY OF OTSEGO
t
Jessica L. Stockamp, May r
ATTEST:
Audra Etzel, City Clerk