HomeMy WebLinkAboutORD 5776 CITY OF RENTON, WASHINGTON
ORDINANCE NO. 5776
AN ORDINANCE OF THE CITY OF RENTON, WASHINGTON, RELATING TO THE
REGULAR PROPERTY TAX LEVIES FOR COLLECTION IN 2016, IMPLEMENTING
RCW 84.55.0101 AND FINDING SUBSTANTIAL NEED TO INCREASE THE REGULAR
PROPERTY TAX LIMIT FACTOR ABOVE THE RATE OF INFLATION TO ONE
PERCENT (1%), FOR A TOTAL LIMIT FACTOR OF ONE HUNDRED AND ONE
PERCENT(101°r6).
WHEREAS, Chapter 84.55 RCW establishes the "Limitations Upon Regular Property
Taxes" which all taxing jurisdictions must use in calculating the amount of regular property tax
levy which may be levied to provide governmental services; and
WHEREAS, the limitation is generally restricted to a "limit factor", which is equal to the
� lower of one percent (1%) or inflation. Inflation is measured as the percentage change in the
"implicit price deflator" (IPD) as published for the most recent twelve (12)-month period by the
Federal Department of Commerce in September of the year before the taxes are payable; and
WHEREAS, the September 2015 IPD is two hundred fifty-one thousandths percent
(0.251%), therefore, the City's 2016 Property Tax levy would be one hundred and two hundred I,
fifty-one thousandths percent (100.251%) of the regular property taxes levied by the City in II
2015 to ether with certain increase in assessed valuations as set forth by law; and
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WHEREAS, notwithstanding the foregoing general limitations, RCW 84.55.0101 permits !
the City to adopt, as a limit factor, a percentage increase up to one hundred and one percent
(101%) provided the Council enters a finding of substantial need and approves the increased
limit factor by affirmative vote of a majority plus one vote; and
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ORDINANCE N0. 5776
WHEREAS, the City continues to face costs associated with labor contracts, benefits, and
professional services increasing at a faster rate than the City's primary recurring revenue
sources; and
WHEREAS, the Council has held a public hearing regarding the 2015/2016 Mid-Biennium
Budget Adjustment which included consideration of revenue sources for anticipated current
expense to provide City services, and possible increases in property tax revenues; and
WHEREAS, the Council has considered the effect of increasing the tax levy and the
increased service demands from those in need; and
WHEREAS, based on the above findings, the Council finds that a substantial need exists
to set the property tax limit factor at one hundred and one percent (101%) of the 2015
property tax levy;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF RENTON, WASHINGTON, DOES
ORDAIN AS FOLLOWS:
SECTION I. The above findings are true and correct in all aspects and substantial
need exists for the City Council needs to levy 2016 property tax at one hundred and one
percent (101%) of the property tax levied for 2015, pursuant to RCW 84.55.0101, to produce I
revenues sufficient to meet 2016 expenses. '
SECTION II. This ordinance has been passed by the affirmative vote of at least a
majority plus one of the whole membership of the Council.
SECTION I11. This ordinance shall be effective upon its passage, approval, and thirty
(30) days after publication. '
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ORDINANCE N0. 5776
PASSED BY THE CITY COUNCIL this 9th day of November , 2015.
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Jason . SetYi,vCi�y Clerk
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APPROVED BY THE MAYOR this 9th day of �ovember , 2015.
Denis Law, Mayor
Approved as to form: ��\``�O�`���ENT����,,,����G/
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Lawrence J. Warren, City Attorney � „�
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11/13/2015 (summar �
Date of Publication: Y� ��''��i,�_`'�9r�,���,���`iO�\\
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