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HomeMy WebLinkAbout1995.11.27 Council MinutesMINUTES SPECIAL MEETING PASCO CITY COUNCIL NOVEMBER 27, 1995 I By electing not to levy the 6% mcrease m 1996 and adding only the mcrease resulting from new construction the1996 levy amount will be $1,770,000 which will result m a general levy rate of $2 9625 The 1996 debt service requirement for the 1993 Unlimited General Obligation Bond is $390,223 Staff recommends that the1993 Unlimited General Obligation Bond tax levy be set at $390,223 for 1996 Any shortfall in tax collections will be made up by the General Fund The actual levy rate will be calculated by the Franklin County Assessor, based on the prelimmary assessed valuation amount The requested levy would result m a rate of $0 7138 per $1,000 of assessed value If the recommended levies are adopted, the levy rate a citizen of Pasco pays for the City portion of their taxes will go from $3 7672 to $3 6763 based on the estimated assessed value provided by the assessor The actual rates will be established by the Franklin County Assessor Mr Kilbury stated that the citizens of Pasco would expenence a reduction of $ 09 per thousand m property tax levy and the citizens deserve a little of this benefit MAYOR DEFELICE DECLARED THE PUBLIC HEARING OPEN TO CONSIDER REVENUE SOURCES FOR THE 1996 GENERAL FUND BUDGET AND SETTING THE 1996 PROPERTY TAX LEVY Following three (3) calls from Mayor DeFelice for comments from the floor, either for or against, and there bemg none, the public hearing was declared closed Mr Crutchfield wanted to explain that it should be noted the levy for the 1993 Unlimited Tax G 0 Bond does not apply to lands that were mcorporated into the City after the vote The base levy is the rate that would apply to any newly annexed areas He also explamed that the property tax law changed approximately 3 or 4 years ago and prior to that time the 106% law was designed to be a protection for the tax payers by limiting the ability of cities to raise the total property tax levy by 6% from year to year The unfortunately the law caused cities, if they did not impose the full 6%, to lose the ability to impose up to the 6% limit in future years This encouraged cities and counties to raise the levy by the full 6% every year With the change that was enacted several years ago, that particular aspect was clarified to permit cities to accrue the mcrease authority, but not necessarily use it all Ordinance No. 3119 AN ORDINANCE PROVIDING FOR THE AD VALOREM TAX LEVY IN THE CITY OF PASCO IN ACCORDANCE WITH STATE LAW MOTION Ordinance No 3119 was read by title only Mr Garrison moved to adopt Ordinance No 3119, providmg forthe 1996 Ad Valorem Tax and a levy for the 1993 Unlimited Tax General Obligation Bond Mr Lathim seconded the motion Motion earned unanimously ADJOURNMENT No further busmess, the meeting was adjourned at 7 38 p m -2- SPECIAL MEETING AI IEST .1 ewer- 45.) MINUTES PASCO CITY COUNCIL NOVEMBER 27, 1995 Cathenne D Seaman Deputy City Clerk PASSED and APPROVED this 4 day of December , 1995 -3-