Title
ORDINANCE NO. 3390 - SETTING THE AD VALOREM TAX LEVY RATE FOR 2019
COUNCIL STRATEGIC INITIATIVE ADDRESSED:
Council Initiative: Continue effective financial management
CITY ATTORNEY REVIEW: REQUIRED
SUMMARY STATEMENT:
The attached Ordinance fixes the estimated amount to be raised by ad valorem taxes for the 2019 Budget. For 2019, the requested ad valorem tax rate is $2.885633 per $1,000 of assessed value. The $2.89 per $1,000 represents a $0.27 decrease from the $3.16 ad valorem tax rate levied in 2018. Based on the preliminary assessed value of $3,256,230,066 provided by the Cowlitz County Assessor’s Office, the estimate for 2019 taxes payable is $9,396,286. The attached Ordinance sets the 2019 ad valorem tax levy at 1.0% above last year’s actual levy including the addition of any new construction and improvements to property, annexations and any increase in the value of state-assessed property. An Ordinance setting the 2019 levy must be in the hands of the County Commissioners by November 30, 2018: if not, the maximum amount that can be levied is the same as 2018.
RECOMMENDED ACTION:
Motion to adopt Ordinance No. 3390.
STAFF CONTACT: Kurt Sacha, Asst. City Manager/Finance Director