HomeMy WebLinkAboutORD 4812 T
CITY OF RENTON, WASHINGTON
ORDINANCE NO. 4 812
AN ORDINANCE OF THE CITY OF RENTON, WASHINGTON,
AUTHORIZING A ONE HUNDRED SIX PERCENT (106%) PROPERTY
TAX LEVY LIMIT FACTOR FOR 2000 TO PROTECT THE CITY'S
FUTURE PROPERTY TAX LEVY CAPACITY.
WHEREAS, pursuant to RCW 84.55.120, the City Council held a public hearing on
November 1, 1999 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 protect the City's
future property tax levy capacity to continue to provide and maintain an appropriate level of
service throughout the City;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF RENTON,
WASHINGTON, DO ORDAIN AS FOLLOWS:
SECTION I. RCW 84.55.092 removes the incentive for the City to maintain its tax levy
at the maximum level permitted and to protect the future levy capacity of a taxing district that
reduces its tax levy below the level that it otherwise could legally impose.
SECTION II. The regular property tax levy limit factor for fiscal year 2000 is hereby
authorized to be one hundred and six percent (106%) which would allow a six percent (6%)
increase from the previous year's highest allowable property tax levy in an amount currently
estimated to be $868,806.
SECTION III. This ordinance shall be effective upon its passage, approval and five
days after publication.
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ORDINANCE NO. 4 812
PASSED BY THE CITY COUNCIL this 1st day of November , 1999.
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Marilyn J. I- -t' -n, City Clerk
APPROVED BY THE MAYOR this 1st day of November , 1999.
Jesse er, Mayor
A oved as to form:
Lawrence J. Warren, City Attorney
Date of Publication: 11/5/99
ORD.817:10/14/99.
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