HomeMy WebLinkAboutORD 3959 T
� CITY OF RENTON, WASHINGTON ' � � `
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ORDINANCE N0. 3959 t . �
AN ORDINANCE OF THE CITY OF RENTON, WASHINGTON, FIXING THE
ESTIMATED AMOUNT OF TAX LEVIES NECfiSSARY TO RAISE THE AMOUNT
OF THE ESTIMATED EXPENDITURES FOR THE YEAR 1986 AS FtEQUIRED
BY RCW 84.52.020; AUTHORIZING THE CITY CLERK TO CERTIFY SUCH
BUDGET OR ESTIMATE OF THE AMOUNT TO BE RAISED BY TAXATION ON
THE ASSESSED VALUATION OF THE PROPERTY LOCATED WITHIN THE CITY
OF RENTON, WASHINGTON.
THE CITY COUNCIL OF THE CITY OF RENTON, WASHINGTON, DO ORDAIN AS
FOLLOWS:
SECTION I: Pursuant to the requirements of RCW 84.52.020, the City
of Renton shall annually certify to King County the amount of levies to be
made in support of the City for the ensuing year, in total and by individual
fund.
Pursuant thereto, it is hereby certified that the estimated amount
necessary to be raised by taxation for the calendar year 1986 is the sum of
$5,5�8,654.47 General Levy and $335,123.00 Excess Inventory Tax Levy;
$851,400.00 Excess Levy and $33,500.00 Excess Inventory Tax Levy; and said
amount of tax levy is necessary to be levied upon the real and personal
property subject to taxation in the City of Renton for the purpose of raising
the necessary revenues for said City for the calendar year 1986, to wit:
$1,831,398,601
TOTAL ASSESSED VALUATION:
GENERAL 1986 LEVY RATE: $3.03188
*Levy Ceiling $5,551, 125.62
Excess Inventory Tax 335,123.00
Annexations 1,448.56
Prior Year Omitted Levies 3,458.21
Refund Fund 42,622.08
MAXIMUM 1986 GENERAL TAX LEVY $5,933,777.47 �
(Based on 106� Limit}
EXCESS 1986 LEVY RATE: $0.46501
1986 Excess Levy $ 851,400.00
Excess Inventary Tax 33,500.00
1986 EXCESS LEVY $ 884,900.00
TOTAL GENERAL AND EXCESS LEVIES $6,818,677.47
*See page 3
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. , CITY OF RENTON, WASHINGTON � . ,
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" ' � ORDINANCE N0. 3959 - Continued
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SECTION II: That said taxes herein provided for are levied for the
purpose of raising revenue sufficient to pay the principal and interest upon
the general bonded indebtedness of the City of Renton, the General Fund, and
for carrying on of the different departments of the municipal government of
the City of Renton for the fiscal year beginning January 1, 1986, and ending
December 31, 1986; the final budget of the City of Renton is ta be adopted and
completed as specified by law.
SECTION III: That the taxes collected from the levies hereby fixed
and made, together with estimated revenues from sources other than taxation
which constitute the appropriations of the City of Renton for the fiscal year
1986, shall be so appropriated and as finally itemized and classified in the I
Annual Budget for the fiscal year 1986 to be adopted by the City of Renton as
specified in Chapter 95, Laws of 1969, Extraordinary Session, as amended: I
, SECTION IV: A certified copy of this ordinance shall be transmitted I,
to the Clerk of the King County Council and the King County Assessor's Office I
� and such other governmental bodies as provided by law.
SECTION V: This ordinance shall be effective upon its passage, II�
approval, and five days after its publication. I
PASSED BY TI� CITY COUNCIL this 25th day of November, 1985.
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Maxine E. Motor, City Clerk
APPROVED BY TI� MAYOR this 25th day of November, 1985.
t�QJ1Jp�tQ� ,J�Jh �S�l.ul,poc'Pn,
Barbara Y. Shinpoch, Mayor
Approved as to form:
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, Lawrence J. Warr City Attorney
Date of publication: November 29, 1985
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*Levy Ceiling:
$5,790,281.94 -- 6i on highest. of three most recent year's levies,
1985/$5,462,530.13 (less Refund Fund)
-335,123.00 -- Excess Inventory Tax (RCW 84.09.080) - Subtract ,
I - 3,458.21 -- Omitted Assessment Levy - Subtract �
99,424.89 -- New Construction Levy ($2.68186 1985 Tax Rate x ,
$37,073,111; $25,227,399/Local New Construction;
$11,845,712/State Public Service New Construction) I
$5,551, 125.62 -- Levy Ceiling (Discounting Annexations and Omitted Assessments)
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