HomeMy WebLinkAbout4027 Ordinance ORDINANCE NO. 1-4 0 a 7
AN ORDINANCE PRESERVING THE PROPERTY TAX LEVY
CAPACITY IN THE CITY OF PASCO, WASHINGTON FOR FISCAL
YEARS AFTER 2012 IN ACCORDANCE WITH STATE LAW.
WHEREAS, to provide the property tax revenues required by the general operating
budget of the City for fiscal year 2012, City Council of the City of Pasco levied property taxes
on all taxable property in the City for collection in fiscal year 2012 in the total amount of
$6,327,858, which dollar amount is the sum of(a) $6,112,376 which is the amount of property
taxes levied by the City in fiscal year 2011, plus (b) $0 of the allowable increase of the lesser of
1% or the Implicit Price Deflator (2.755%), (c) $195,682, which is the amount of additional
taxes at the 2011 (prior year) levy rate of 1.971575 cents per $1,000 of assessed value resulting
from the addition of new construction and improvements to property in the City, plus (d) $0
relating to property annexed into the City during fiscal year 2011, and (e) $19,800, which is the
amount of additional taxes at the 2011 (prior year) levy rate of 1.971575 cents per $1,000 of
assessed value resulting from the increase in value of State-assessed utility 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 2012, calculated as if the City in fiscal year 2011 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 (2.755%) for the previous year and limit factors of 101% or 106% and 1PD for
previous years as provided by RCW 84.5 5.0101 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 2012
in a total amount of$6,564,848 (the "full amount allowed by law"), which dollar amount is the
sum of(a) $6,349,366 (the lesser of the amount calculated by multiplying the allowable 2011
property tax levy of$6,286,501 times the limit factor of 101% (the lesser of 101% or lPD or the
$3.60 per$1,000 statutory limitation), plus (b) $195,682, which is the amount of additional taxes
at the 2011 (prior year) levy rate of$1.971575 cents per $1,000 of assessed value resulting from
the addition of new construction and improvements to property in the City, plus (c) $0 for
property annexed into the City during fiscal year, and (d) $19,800, which is the amount of
additional taxes at the 2011 (prior year) levy rate of $1971575 cents per $1,000 of assessed
value resulting from the increase in value of State assessed utility; and
WHEREAS, the full amount allowed by law for fiscal year 2012 of $6,564,848 is
$236,990 greater than the actual property tax levy of the City for fiscal year 2012 of$6,327,858
and such excess represents the unused 2012 property tax levy capacity that the City desires to
preserve for future fiscal years after 2012;
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 2012, the capacity to levy property
taxes on all taxable property in the City in the amount of$236,990, which is equal to the unused
levy capacity of the City for fiscal year 2012. 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 21 st day of November, 2011.
Matt Watkins, Mayor
ATTEST:
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Debra L. Clark, City Clerk
APPROVED AS TO FORM:
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Leland B. Kerr, City Attorr6Dy