HomeMy WebLinkAbout3889 Ordinance ORDINANCE NO. C�U
AN ORDINANCE PRESERVING THE PROPERTY TAX LEVY
CAPACITY IN THE CITY OF PASCO, WASHINGTON FOR FISCAL
YEARS AFTER 2009 IN ACCORDANCE WITH STATE LAW.
WHEREAS, to provide the property tax revenues required by the general
operating budget of the City for fiscal year 2009, City Council of the City of Pasco levied
property taxes on all taxable property in the City for collection in fiscal year 2009 in the total
amount of$5,738,336, which dollar amount is the sum of(a) $5,513,967, which is the amount of
property taxes levied by the City in fiscal year 2008, plus (b) $0 (ZERO) of the allowable
increase of the lesser of 1% or the Implicit Price Deflator, which for this calculation, is 4.527%,
(c) $224,369, which is the amount of additional taxes at the 2008 levy rate of 2.2205 cents per
$1,000 of assessed value resulting from the addition of new construction and improvements to
property in the City, d) property annexed into the City during fiscal year 2008, which there was
$0, and e) any increase in value of state-assessed property in the City, and,
WHEREAS, the City Council of the City desires to preserve in accordance with
state law (including but not limited to Chapter 84.55 RCW) the capacity of the City to levy
property taxes in future fiscal years after 2009, calculated as if the City in fiscal year 2009 had
levied the full amount allowed by state law upon a finding of substantial need therefore; and
WHEREAS, upon a finding of substantial need and based upon limit factors of
the lesser of 101% or 1PD (104.527%) for the previous year and limit factors of 101% or 106%
and IPD for previous years as provided by RCW 84.55.0101 and $3.60 per $1,000 of assessed
value by RCW 84.52.043 and 41.16.060, the City would be permitted to levy property taxes for
fiscal year 2009 in a total amount of$6,468,450 (the "full amount allowed by law"), which dollar
amount is the sum of (a) $6,244,081 (the lesser of the amount calculated by multiplying the
allowable 2008 property tax levy of $6,182,258 times the limit factor of 101% (the lesser of
101% or 1PD or the $3.60 per $1,000 statutory limitation)), plus (b) $224,369, which is the
amount of additional taxes at the 2008 levy rate of 2.2205 cents per $1,000 of assessed value
resulting from the addition of new construction and improvements to property in the City, c)
property annexed into the City during fiscal year 2008 ($0), and c) any increase in value of state-
assessed utility property in the City at the 2008 levy rate of 2.2205 cents per $1,000 of assessed
value($0); and
WHEREAS, the full amount allowed by law for fiscal year 2009 of$6,468,450 is
$730,114 greater than the actual property tax levy of the City for fiscal year 2009 of$5,738,336
and such excess of$730,114 represents the unused 2009 property tax levy capacity that the City
desires to preserve for future fiscal years after 2009;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PASCO,
WASHINGTON,DO ORDAIN as follows:
Section 1. The City Council of the City finds and determines that there is substantial
need for the City to preserve, for future fiscal years after.2009,the capacity to levy property taxes
on all taxable property in the City in the amount of$730,114, which is equal to the unused levy
capacity of the City for fiscal year 2009. This substantial need includes, without limitation, the
anticipated future requirements for additional property tax revenues that will be needed for the
construction and/or maintenance of roads, streets, bridges and other transportation facilities of
the City; to satisfy anticipated and unanticipated new regulatory requirements applicable to the
City; to provide for potential excess costs of capital facilities; and generally to meet other
substantial future financial requirements of the City.
Section 2. This ordinance shall take effect and be in force from and after its passage and
five days following its publication as required by law.
ADOPTED by the City Council by the affirmative vote of a majority plus one vote of the
members thereof and APPROVED by the Mayor of Pasco, Washington, at a regular open public
meeting thereof, this 17th day of November, 2008.
Joyce Ols tor
ATTEST:
A D&t 0
De ra Clark, City Clerk
1PRO S TO FORM:
Leland B. Kerr, City Attorney