City of Albertville to Set 2012 Budget Tonight

The will discuss the 2012 budget, following its 2012 Truth in Taxation hearing, set for 6 p.m. tonight at Albertville City Hall. 

The Truth in Taxation hearing, which is set by state law, allows citizens to discuss the proposed levy and the impact it might have on their property. It should not be confused with the Board of Equalization hearing, which is held to discuss local property values, and is held in March. 

Following the "T-n-T" meeting, the council will hold its regular meeting. Approval of the 2012 budget is on tap. 

The city has set a budget of about $3.05 million, up about $85,000 in revenue from last year. That's an increase of 2.75 percent, if approved. 

The additional revenue will come into the general levy, generated by local property taxes. A drop of the homestead credit program would be the main source of those funds. 

Fire, police protection (a contract with Wright County) and public works are the main sources of expenditures in the budget, which also calls for about $3.05 million in spending for next year, up about $80,000. 

The city plans to end the year with a zero balance/carroyver from 2012 as it attempts to keep its reserve fund balance at the status quo. 

See the attached budget for line item information.