HomeMy WebLinkAbout4128 OrdinanceORDINANCE NO. v�
AN ORDINANCE PRESERVING THE PROPERTY TAX LEVY
CAPACITY IN THE CITY OF PASCO, WASHINGTON FOR FISCAL
YEARS AFTER 2013 IN ACCORDANCE WITH STATE LAW.
WHEREAS, to provide the property tax revenues required by the general operating
budget of the City for fiscal year 2014, City Council of the City of Pasco levied property taxes
on all taxable property in the City for collection in fiscal year 2014 in the total amount of
$6,932,650, which dollar amount is the sum of (a) $6,492,514 is the amount of property taxes
levied by the City in fiscal year 2013, plus (b) $0 of the allowable increase of the lesser of I% or
the Implicit Price Deflator (1.314 %), (c) $161,723 which is the amount of additional taxes at the
2013 (prior year) levy rate of 1.966733 cents per $1,000 of assessed value resulting from the
addition of new construction and improvements to property in the City, plus (d) $273,228
relating to property annexed into the City during fiscal year 2013, and (e) $5,185, which is the
amount of additional taxes at the 2013 (prior year) levy rate of 1.966733 cents per $1,000 of
assessed value resulting from the $2,636,379 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 2013, calculated as if the City in fiscal year 2013 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 (1.314 %) 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 2014
in a total amount of $8,695,601 (the "full amount allowed by law "), which dollar amount is the
sum of (a) $8,173,728 (the actual highest lawful levy as of 2013), plus (b) $81,737 which
represents the lesser of I% or the IPD; (c) $161,697, which is the amount of additional taxes at
the 2013 (prior year) levy rate of $1.966733 cents per $1,000 of assessed value resulting from the
addition of new construction and improvements to property in the City, plus (d) $273,228 which
is the amount of additional taxes at the 2013 (prior year) levy rate of $1.966733 cents per $1,000
of assessed value resulting from property annexed into the City during fiscal year, and (e)
$5,185, which is the amount of additional taxes at the 2013 (prior year) levy rate of $1.966733
cents per $1,000 of assessed value resulting from no increase in value of State assessed utility;
and
WHEREAS, the full amount allowed by law for fiscal year 2014 of $8,695,601 is
$1,762,951 greater than the actual property tax levy of the City for fiscal year 2014 of
$6,932,650 and such excess represents the unused 2014 property tax levy capacity that the City
desires to preserve for future fiscal years after 2013;
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 2013, the capacity to levy property
taxes on all taxable property in the City in the amount of $1,762,951, which is equal to the
unused levy capacity of the City for fiscal year 2014. 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 18th day of November, 2013.
Matt Watkins, Mayor
ATTEST:
De ra L:'Clark, City Clerk
APPROVED AS TO FORM:
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Leland B. Kerr, City Attorney