#378 07-05-72 Penalties Interest on Delinquent TaxesResolution No. 378
July 5, 1972
239
REGARDING PENALTIES AND INTEREST ON DELINQUENT TAXES
WHEREAS, The State Legislature has established penalty rates and interest
charges on delinquent real estate taxes which presently are lower than
available commercial lending rates, and
Whereas, this legislative policy makes it economically advantageous for
certain land speculators, developers and large property owners to forego
payment of their property taxes in order to benefit from the interest rates
established by the State Legislature, and
WHEREAS, the levy limitation imposed by the State Legislature through
the 1971 Omnibus Tax Bill will make it critical that all monies levied be
collected as they become due, and
WHEREAS, the collection of special assessments, which dollarwise often
produce greater monies than ad valorum taxes, are also adversely affected by
the State Legislature's policy regarding penalty rates and interest charges,
and
WHEREAS, the policy regarding penalty rates and interest charges on
delinquent real estate taxes has encouraged the withholding of tax monies
which necessitates that the Village of Golden Valley either borrow additional
monies and/or cause a reduction in the level of municipal services received
by Village residents, and
NOW, THEREFORE, BE IT RESOLVED BY THE VILLAGE COUNCIL OF THE VILLAGE
OF GOLDEN VALLEY that the Village requests that the State Legislature
initiate an immediate review of policy regarding penalty rates and interest
charges on delinquent real estate taxes so that deficiencies can be
remedied during the 1973 Legislative Session to create a policy which
encourages the prompt payment of real estate taxes and special assessments.
The foregoing resolution was introduced by Member Ulstad and duly seconded
by Member Stockman and unanimously carried. Whereupon the resolution was
adopted.
Mayor'
Attest:
Village Clerk
The motion for the adoption of the foregoing resolution was duly seconded by
Member Stockman, and upon vote being taken thereon, the following members
voted in favor thereof: Paulson, Riggs, Stockman, and Ulstad; and the
following voted against the same: None, whereupon said resolution was
declared duly passed and adopted, signed by the Mayor and his signature
attested by the Village Clerk.