Title
ORDINANCE NO. 3332: SETTING THE AD VALOREM TAX LEVY RATE FOR 2017
COUNCIL INITIATIVE ADDRESSED:
Continue effective financial managment.
CITY ATTORNEY REVIEW: Required
SUMMARY STATEMENT:
The attached ordinance fixes the estimated amount to be raised by ad valorem taxes for the 2017 Budget. For 2017, the requested ad valorem tax rate is $3.352751 per $1,000 of assessed value. The $3.35 per $1,000 represents a $0.04 decrease from the $3.39 ad valorem tax rate levied in 2016. Based on the preliminary assessed value of $2,717,132,232 provided by the Cowlitz County Assessor's office, the estimate for 2017 taxes payable is $9,109,870. The attached Ordinance sets the 2017 ad valorem tax levy at 0.953% above the 2016 ad valorem tax levy. An ordinance setting the 2017 levy must be in the hands of the County Commissioners by November 30, 2016; if not, the maximum amount that can be levied is the same as that in 2016.
RECOMMENDED ACTION:
Motion to adopt Ordinance No. 3332.
STAFF CONTACT:
Kurt Sacha, Finance Director and Assistant City Manager