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File #: 18-5678    Version: 1 Name:
Type: Agenda Item Status: Passed
File created: 11/8/2018 In control: City Council
On agenda: 11/15/2018 Final action: 11/15/2018
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 ...
Attachments: 1. ORDINANCE NO 3390 - Setting the 2019 Ad Valorem Tax Rate

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