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HomeMy WebLinkAbout1995.09.27 Council MinutesMINUTES PASCO CITY COUNCIL SPECIAL MEETING SEPTEMBER 27, 1995 CALL TO ORDER The meeting was called to order at 7 30 P M by Joyce DeFelice, Mayor ROLL CALL By Administrative Assistant Councilmembers present Joyce DeFelice, Dan Lathim, Mike Gamson, Charles Kilbury, and Carl Strode Councilmember(s) absent Edgar Hargrow Also present Gary Crutchfield, City Manager, Leland B Kerr, Acting City Attorney, Dan Underwood, Finance Director, Bob Alberts, Public Works Director, Greg Garcia, Fire Chief, Denis Austin, Police Chief, Dennis Wright, City Engineer, Richard Smith, Community & Economic Dev Director, and Kurt Luhrs, Administrative Assistant NEW BUSINESS Public Hearing to Consider Revenue Sources for the 1996 General Fund Budget and Setting the 1996 Property Tax Levy Mr Dan Underwood, Finance Director, addressed Council and noted for the record that notice of the public hearmg was published as required by law Mr Underwood explained that Chapter 251, Laws of 1995 added a new item to the budget calendar The Council must hold a public hearing on revenue sources for the next year's General Fund budget The hearmgs must include considerations of possible increases in property tax revenues and must be held before the property tax levy is submitted to the County The property tax levy must be set by November 30, 1995 Mr Underwood outlined the following sources of revenue for the City of Pasco General property tax, retail sales tax, utility taxes (natural gas, solid waste, cable TV, telephone, electricity, water and sewer), other taxes (household, gambling, leasehold, and admissions/other), business licenses and building permits, grants, State shared revenue (PUD privilege tax, nuclear gen tax, MVET, criminal justice, liquor excise tax, Liquor Board profits, mobile home tax, and sales tax equalization), other financing sources (operatmg transfers, residual transfers, proceeds of L T debt, sale of assests, insurance recovenes, and adjustments to fund balances) Mr Underwood then explained that the Franklin County Assessor has advised staff that the City will have an estimated assessed valuation of $597,464,176 for 1996 taxes, this number is subject to change since it is based on last year's Public Utilities value The $597,464,176 amount includes new construction of $32,382,800 If the new construction is subtracted from the new assessed value it leaves an assessed value of $565,082,376 as compared to $551,061,553 in 1995, a difference of $14,020,823 The amount of increase is small because there were no revaluations done in 1995, the increase is a result of annexations The City's property tax levy for 1996 will be comprised of the following two elements General property tax levy, and the 1993 Unlimited Tax General Obligation Bond Debt Service Last year was the first in many years that the City didn't impose the statutory maximum property tax levy of 106% of the previous years levy plus new construction calculated at the previous years levy rate If Council levied the maximum for 1996 it would result in a general property tax levy of $1,973,219 which is a levy rate of $3 3027 per thousand based on the estimated 1996 City assessed value of $597,464,176 This compares to a levy of $1,672,943, a levy rate of $3 0334 per thousand and an assessed value of $551,061,553 for 1995