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Fargo staff explain new property-tax revenue cap calculation as budget pressures mount
Summary
Finance staff walked the committee through a new state property‑tax revenue cap calculation (greater of base‑year or adjusted levy plus 3%), explained volatile state shared revenue projections and said staff will run budget workshops to align expenses with constrained revenue.
Susan Thompson (Staff member) briefed the finance committee on general fund revenue trends, new property‑tax revenue cap calculations and a proposed schedule of budget workshops to reconcile revenues and expenses under tighter constraints.
Thompson explained the new cap is a revenue limit computed as the greater of a base‑year levy or an adjusted levy plus 3 percent. She walked commissioners through three calculations used to determine the cap, including how new taxable value,…
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