HomeMy WebLinkAboutORD 4929CITY OF RENTON, WASHINGTON
ORDINANCE NO. 4929
AN ORDINANCE OF THE CITY OF RENTON, WASHINGTON,
ESTABLISHING THE PROPERTY TAX LEVY FOR THE YEAR 2002
FOR BOTH GENERAL PURPOSES AND FOR VOTER APPROVED
BOND ISSUES.
WHEREAS, the City of Renton wants to maximize the impact of all new construction and
growth in the City; and
WHEREAS, the City of Renton does not want to increase the tax burden of the City's
property owners; and
WHEREAS, the City of Renton wants to continue to provide the same level of services to
its citizens in 2002 as has been provided in 2001;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF RENTON,
WASHINGTON, DO ORDAIN AS FOLLOWS:
SECTION I. The regular tax levy for the City of Renton shall be the lesser of the
amount generated by a rate of $3.27 per $1,000 of Assessed Valuation, or $18,158,514.
SECTION II. Within the total noted above, the City of Renton expects to receive
at least $780,943 in property taxes from new construction.
SECTION III. The City of Renton also expects to receive the County's road tax
for the areas that have been annexed into the City since March 2001.
SECTION IV. The City of Renton also expects to receive $58,000 from
annexations for the year 2002.
SECTION V. The total tax collections for the regular 2002 levy is expected to be
a total of $18,158,514.
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ORDINANCE NO. 4929
SECTION VI. The City of Renton also authorizes King County to assess taxes in
the amount of $520,000 for the Voted Bond Issue for Senior Housing, passed in 1989 and
refunded in 1993. This tax levy will cover the 2002 debt service for these bonds. The rate will
be approximately .09 cents.
SECTION VII. This ordinance shall be effective upon its passage, approval, and
five days after publication.
PASSED BY THE CITY COUNCIL this ipth day of December 2001.
Marilyn JVTefcysen, City Clerk
APPROVED BY THE MAYOR this 1Qth day of December ^ 2001.
Jessj^l anncr, Mayor
Approved as to form:
Lawrence J. Warren, City Attorney
Date of Publication: 12/14/2001 (Summary)
ORD.949:12/03/01 :ma
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