Austin City Council members will cast their final votes on the city’s proposed $30.15 million budget and tax levy at its meeting Monday night.

The proposed 2012 levy is a decrease from last year’s $4.13 million, but many residents will see a hike in their taxes because of a loss of Minnesota’s Market Value Credit. Finance Director Tom Dankert previously said the proposed 2012 tax levy is actually about 3.85 percent lower than last year’s levy, but the loss of MVC equates to a 12 to 13 percent increase overall.

The city’s proposed budget for 2012 is $30.15 million, compared to $29.86 million in 2011.

Council members voted 5-2 in favor of the proposed budget and levy at last week’s Truth in Taxation meeting. Council members Judy Enright and Marian Clennon voted against the proposals, with Clennon saying the council could have done more to decrease the burden on taxpayers.

Council member Jeff Austin, who voted in favor of the levy, said citizens receive quality services for their tax dollars.

“We get a pretty good bang for our buck,” Austin said at the Truth in Taxation meeting.

Once the budget and levy are passed, City Council won’t begin budgeting for 2013 until around August 2012.

Monday’s meeting will be held in City Hall Council Chambers at 5:30 p.m.