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HomeMy WebLinkAbout4183 OrdinanceOption 1 ORDINANCE NO. 4'K3 AN ORDINANCE PROVIDING FOR THE 2015 AD VALOREM TAX LEVY, AND A LEVY FOR THE 1999 UNLIMITED TAX GENERAL OBLIGATION BONDS IN THE CITY OF PASCO IN ACCORDANCE WITH STATE LAW. THE CITY COUNCIL OF THE CITY OF PASCO, WASHINGTON DO ORDAIN AS FOLLOWS: §1. The City Council of the City of Pasco (the population of which is greater than 10,000) has met and considered its budget for the calendar year 2015; §2. The City Council of the City of Pasco after public hearing and after duly considering all relevant evidence and testimony presented, determined that the City of Pasco requires a regular levy in the amount of $7,159,507, which does include the 1% allowable percentage increase in property tax revenues from the previous year, and does include amounts resulting from the addition of new construction and improvements to property and any increases in the value of state -assessed property, and amounts authorized by law as a result of any annexations that have occurred and refunds made, in order to discharge the expected expenses and obligations of the district. RCW 84.55.120 requires a specific statement regarding the amount of any increase in regular property tax from the previous year. The actual general levy amount from the previous year (2014) was $6,932,650. The City Council of the City of Pasco hereby authorizes the following increase in the regular property tax levy to be collected in the 2015 tax year. The dollar amount of the increase over the actual levy amount from the previous year shall be $69,326 (Sixty-nine thousand, three hundred and twenty six dollars) which is a percentage INCREASE of 1% (one PERCENT) from the previous year. This increase is exclusive of additional revenue resulting from the addition of new construction and improvements, newly constructed wind turbines to property, any increase in the value of state assessed property, and any additional amounts resulting from any annexations that have occurred and refunds made. The property tax from new construction to be included in the actual levy is calculated to be $157,531. This number is the result of the amount of new construction and improvements to property of $80,525,097, provided by the Franklin County Assessor's Office, multiplied by the 2014 (prior year) levy rate of $1.9656301 per $1,000 of that value. The property tax from annexation to be included in the actual levy is calculated to be $0 This number is the result of Annexation property values of $0 provided by the Franklin County Assessor's Office, multiplied by the 2014 (prior year) levy rate of $1.956301 per $1,000 of that value. The property tax from the increase in state assessed utilities to be included in the actual levy is calculated to be $0. This number is the result of the amount of new increase of $0, provided by the Franklin County Assessor's Office, multiplied by the 2014 (prior year) levy rate of $1.956301 per $1,000 of that value. §3. A tax for the following sums of money which includes new construction and annexations to defray the expense and liabilities of the City of Pasco be and the same is hereby levied for the purposes specified against all taxable property in the City for the fiscal year 2015: General Expense, including Councilmanic Bond Debt Service $7,159,507 1999 Unlimited Tax General Obligation Bond/Library Remodel 56,363 1999 Unlimited Tax General Obligation Bond/Fire Station 71,387 $7,287,257 §4. This Ordinance shall take effect five (5) days after passage and publication. Adopted by the City Council of the City of Pasco, on this 17th day of November, 2014. City of Pasco: Matt Watkins, Mayor Atte j: De ra L" Clark, City C1eTk Appr As To Form: Leland B. Kerr, City Attorney