HomeMy WebLinkAbout3944 Ordinance ORDINANCE NO. 3
AN ORDINANCE PRESERVING THE PROPERTY TAX LEVY
CAPACITY IN .THE CITY OF PASCO, WASHINGTON FOR FISCAL
YEARS AFTER 2410 IN ACCORDANCE WITH STATE LAW.
WHEREAS, to provide the property tax revenues required by the general
operating budget of the City for fiscal year 2010, City Council of the City of Pasco levied
property taxes on all taxable property in the City for collection in fiscal year 2010 in the total
amount of$5,865,332, which dollar amount is the sum of(a) $5,738,336 which is the amount of
property taxes levied by the City in fiscal year 2009, minus (b) $48,661 resulting from the
negative IPD of .848% plus (c) $48,661 or that amount needed from banked levy capacity to
offset the negative IPD, plus (d) $117,378, which is the amount of additional taxes at the 2009
levy rate of 2.00422 cents per $1,000 of assessed value resulting from the addition of new
construction and improvements to property in the City, plus e) $9,618 relating to property
annexed into the City during fiscal year 2009, and 0 any increase in value of State-assessed
utility property in the City which was $0; 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 2010, calculated as if the City in fiscal year 2010 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 IPD (4848%) for the previous year and limit factors of 101% 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 2010
in a total amount of$6,660,131 (the "full amount allowed by law'"), which dollar amount is the
sum of(a) $6,533,135 (the lesser of the amount calculated by multiplying the allowable 2009
property tax levy of$6,468,450 times the limit factor of 101% (the lesser of 101% or IPD or the
$3.60 per $1,000 statutory limitation)), plus (b) $117,378, which is the amount of additional
taxes at the 2009 levy rate of 2.00422 cents per $1,000 of assessed value resulting from the
addition of new construction and improvements to property in the City, plus c) $9,618 for
property annexed into the City during fiscal year 2009 at the rate of 2.00422 per $1,000 of
assessed value, and d) any increase in value of State-assessed utility property in the City at the
2000 levy rate of 2.00422 cents per$1,000 of assessed value ($0); and
WHEREAS,the full amount allowed by law for fiscal year 2010 of$6,660,131 is
$794,799 greater than the actual property tax levy of the City for fiscal year 2010 of$5,865,332
including utilization of $48,661 of unused banked levy capacity and such excess of $794,799
represents the unused 2010 property tax levy capacity that the City desires to preserve for future
fiscal years after 2010;
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 2010,the capacity to levy property taxes
on all taxable property in the City in the amount of $794,799. 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 16th day of November, 2009.
Joyce 0 sol4ayor
AT E
�0 0
Debra lark, City Clerk
APPROV 0 FORM:
Leland B. Kerr, City Attorney