RES 2026-87 Adopting a Preliminary Property Tax Levy for Taxes Payable in 2027CITY OF OTSEGO
COUNTY OF WRIGHT
STATE OF MINNESOTA
RESOLUTION NO: 2026-87
ADOPTING A PRELIMINARY PROPERTY TAX LEVY
FOR TAXES PAYABLE IN 2027
WHEREAS, the Otsego City Council is required by State Statute to establish a preliminary tax levy for taxes payable in 2027 by
September 30, 2026, 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
2027; and
WHEREAS, the Otsego City Council has considered projected revenues for funds using property tax proceeds in 2027; 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 2027 for the following
purposes:
General Revenue
$8,150,000
Tax Abatement
75,004
GO Improvement Bond, 2018A
113,412
GO Improvement Refunding Bond, 2020A
186,000
Lease Revenue Bond, 2024A
1,228,424
Capital Improvement Plan
2,811,113
Total Preliminary Property Tax Levy 512,563,953
1
ADOPTED by the Otsego City Council this 28th day of September, 2026.
MOTION BY: Goede
SECONDED BY: Lund
INFAVOR: Stockamp, Goede, Lund, and Tanner
OPPOSED: Dunlap
CITY OF OTSEGO
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Jessica L. Stockamp, Mayor
ATTEST:
Audra 64el, City Clerk
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