HomeMy WebLinkAboutORD 4887CITY OF RENTON, WASHINGTON
ORDINANCE NO. 4887
AN ORDINANCE OF THE CITY OF RENTON, WASHINGTON,
AUTHORIZING AN INCREASE NOT TO EXCEED SIX PERCENT (6%)
IN THE REGULAR PROPERTY TAX COLLECTIONS FOR THE YEAR
2001.
WHEREAS, the City Council, pursuant to RCW 84.55.120, held a public hearing on
August 7, 2000 to consider the revenue sources for the current expense funds of the City; and
WHEREAS, after hearing and duly considering all relevant evidence and testimony
presented, the City Council has determined that a substantial need exists to increase the regular
property tax levy by an amount not to exceed 6% to preserve the public health, safety and
welfare, and to best serve the citizens of the City of Renton;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF RENTON,
WASHINGTON, DO ORDAIN AS FOLLOWS:
SECTION I. As prescribed by RCW 84.55.010 and RCW 84.55.0101 and as
adopted by the City Council, the City of Renton has the authority to increase the property tax levy
by the limit factor of 6%, plus an additional dollar amount calculated by multiplying the increase
in assessed value resulting from new construction, improvements to property, and any increase in
the assessed value of state-assessed property by the property tax levy rate for the preceding year
(2000).
SECTION II. The City Council has further determined that the levy rate from
2000 will not be increased as a result of the dollar increase required in support of the current
expense funds for the year 2001.
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ORDINANCE NO. 4887
SECTION III. By nramtaining the levy rate at $3.40 for the year 2001, the tax levy
is currently anticipated to increase by $681,200 or less, dependent upon legal actions taken due to
Initiative 722, plus the additional dollar amount calculated by multiplying the increase in assessed
value resulting from new construction, improvements to property, and any increase in the assessed
value of state-assessed property by the levy rate for 2000.
SECTION IV. This ordinance shall be effective upon its passage, approval, and
five days after pubhcation.
PASSED BY THE CITY COUNCIL this 18th day of December , 2000.
APPROVED BY THE MAYOR this 18th day of December , 2000.
Jesse Tanner, Mayor
Approved as to form:
Lawrence J. Warren, city Attorney 1
Date of Pubhcation: December 22, 2 00 0
ORD.901:ll/28/00:ma
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