(Arnolds Park)– The Arnolds Park City Council has decided to greatly reduce the levy against a tax increment finance district.
City Administrator Ron Walker says the district, formed to pay for the extension of infrastructure to the Pelican Ridge area, generated revenue much faster than expected.
As a result, he says the city is turning some of the valuation from the district back over to the various taxing entities.
Walker says having the additional valuation back on the tax rolls means Arnolds Park will be able to reduce its general fund levy from $8.85 currently to under seven dollars.
