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16-4614
| 1 | | | Agenda Item | PROPOSED REVENUE SOURCES FOR THE 2017 GENERAL FUND BUDGET
COUNCIL INITIATIVE ADDRESSED:
Continue effective financial management.
CITY ATTORNEY REVIEW: Required
SUMMARY STATEMENT:
RCW 84.55.120 requires cities that collect regular property tax levies to hold a public hearing on the revenue sources for the following year's current expense budget. The hearing must include consideration of possible increases in the property tax revenues and shall be held prior to the time that the City levies the taxes or makes the request to have the taxes levied. Staff has prepared a presentation of the General Fund's revenue sources that includes the ad valorem tax levy rate for the 2017 General Fund Budget for Council's consideration.
RECOMMENDED ACTION:
Conduct the public hearing.
STAFF CONTACT:
Kurt Sacha, Finance Director and Assistant City Manager | | |
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16-4611
| 1 | | | Agenda Item | 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 | approved | Pass |
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16-4612
| 1 | | | Agenda Item | RESOLUTION NO. 2197: AUTHORIZING THE AD VALOREM TAX LEVY FOR 2017
COUNCIL INITIATIVE ADDRESSED:
Continue effective financial management.
CITY ATTORNEY REVIEW: Required
SUMMARY STATEMENT:
RCW Chapter 84.55 limits ad valorem taxes to 100% of the previous year’s levy, plus the value of new construction and improvements; this is called a “limit factor”. In order to exceed the “limit factor”, the law requires cities to adopt a Resolution authorizing any increase in the ad valorem tax levy to a “limit factor” established by the city, which cannot exceed the lesser of one percent or inflation, as defined by the Implicit Price Deflator (IPD). This Resolution complies with the language of RCW Chapter 84.55 in that it represents an increase in the levy amount that is the lesser of one percent or an amount equal to inflation as measured by the implicit price deflator over the highest allowable levy since 1985. This Resolution authorizes a levy for 2017 in an amount equal to inflation as measured by the implicit price deflator which is 100.953% of the 2016 levy. Such a Resolution must | approved | Pass |
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16-4618
| 1 | | | Agenda Item | SET PUBLIC HEARING (12/08/2016 AND 12/15/2016) 2017-18 PRELIMINARY BIENNIAL BUDGET
COUNCIL STRATEGIC INITIATIVE ADDRESSED:
Continue effective financial management of the City
CITY ATTORNEY REVIEW: N/A
SUMMARY STATEMENT:
RCW 35A.34.110 requires cities to conduct a formal public hearing on the proposed biennial budget. Copies of the 2017-2018 Biennial Budget and 2017-21 Capital Improvement Plan will be made available to Council and to members of the public prior to the public hearing. This review shall be held at a public hearing that has been duly advertised to the public. Public hearing notices on the proposed 2017-18 Biennial Budget and 2017-21 Capital Improvement Plan are scheduled for publication on November 25, 2016 and December 2, 2016.
RECOMMENDED ACTION:
Set public hearing on 2017 - 2018 Biennial Budget and 2017 - 2021 Capital Improvement Plan for the December 08, 2016, regular Council meeting, at 7:00 p.m. and December 15, 2016, special Council meeting at 7:00 p.m. | approved | Pass |
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