HomeMy WebLinkAboutORD 5774 CITY OF RENTON, WASHINGTON
ORDINANCE NO. 5774
AN ORDINANCE OF THE CITY OF RENTON, WASHINGTON, ESTABLISHING THE
PROPERTY TAX LEVY FOR THE YEAR 2016 FOR GENERAL CITY OPERATIONAL
PURPOSES IN THE AMOUNT OF $37,250,000.
WHEREAS,the Council has met and considered its budget for the fiscal year 2016; and
WHEREAS, the Council, after hearing and considering all relevant evidence and
testimony presented, determined that, in order to discharge the expected expenses and 'i
obligations of the City and in its best interest, the City of Renton requires a regular levy in the
amount of$37,250,000 for 2016;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF RENTON, WASHINGTON, DOES
ORDAIN AS FOLLOWS:
SECTION I. The regular property tax levy is hereby authorized for 2016 in the amount
of$37,250,000.
This amount includes: $357,617 or 1% in amounts authorized by the levy growth limit
factor over the maximum allowable levy in 2015. In addition, the 2016 levy amount will also
include additional revenue resulting from partial correction of 2013 levy error in the amount of
$619,061; new construction and improvements to property in the amount of$433,285; re-levy
of prior year refunds in the amount of $76,928; adjustments as a result of annexations that
have occurred in the amount of $1,379; and any increase in the value of state-assessed
property.
SECTION II. The regular levy includes levy for the Firemen's Pension at the rate of
� $0.225 per$1,000 assessed valuation.
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