HomeMy WebLinkAboutORD 5775 CITY OF RENTON, WASHINGTON
ORDINANCE NO. 5775
AN ORDINANCE OF THE CITY OF RENTON, WASHINGTON, AUTHORIZING THE
PROPERTY TAX LEVY FOR THE YEAR 2016.
WHEREAS, the Council has properly given notice of the public hearing to consider the
City's 2015-16 proposed budget pursuant to RCW 84.55.120; and
WHEREAS, the Council, after hearing and after duly considering all relevant evidence
and testimony presented, has determined that there is a need to increase the property tax
revenues from the prior year, in addition to the increases resulting from annexations, the ,
addition of new construction, and improvements to property, and any increases in the value of I
state-assessed property, in order to discharge the expected expenses and obligations of the
City;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF RENTON, WASHINGTON, DOES
ORDAIN AS FOLLOWS:
SECTION I. The regular property tax levy total of $36,739,787 is hereby authorized
for 2016. The levy consists of:
• 2015 Base Levy: $35,761,730
• 1%growth limit in the amount of$357,617;
• New annexation levy in the amount of$1,379;
• 2013 levy error correction in the amount of$619,061
This is an increase of $262,260 or 0.72% over the 2015 actual levy of $36,477,527.
Exhibit A shows the calculation of the change.
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ORDINANCE N0. 5775
The above levy does not include increase resulting from the addition of new
construction, improvements to property, any increase in the value of state-assessed property,
and amounts re-levied due to omits or administrative refunds. The amount of new
construction and prior year refunds are $433,285 and $76,928, respectively. Therefore the '
total 2016 property tax levy will be $37,250,000.
SECTION II. This ordinance shall be effective upon its passage, approval, and five (5)
days after publication.
PASSED BY THE CITY COUNCIL this 9th day of November , 2015.
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Jas n A. Seth, City Clerk
APPROVED BY THE MAYOR this 9th day of November , 2015.
Denis Law, Mayor
Approved as to form: "�'�Q����REN�'iii�i,
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Lawrence J. Warren, City Attorney �* ��� � �
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Date of Publication: 11/13/2015 (summary) ��'''�i,,,�� -�pg�������\
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ORDINANCE NO. 5775
Exhibit A:
Calculation of Percentage Increase
2016 Proposed 2015 Actual '
Items Levy Levy
2015 Base Levy $ 35,761,730 $ 35,761,730
1%Adjustment(on Base Levy only 357,617 in above
Annexation 1,379 in above
Levy Correction:2013 Error 619,061 611,995
Relevy Pror Year Refunds/Omits * 103,802
2016 Levy Base/2015 Actual Levy $ 36,739,787 $ 36,477,527
. _9b Increase over Last Year Actual_ . . —. 0.72% _.. � �
Levy Excluded in "%Increase"Calculation
New Construction/Improvements 433,285
* Relevy Prior Year Refunds/Omits 76,928
Subtotal of New Construdion/Refunds $ 510,213
Total Proposed 2016 Levy $ 37,250,000
* Relevy of prior year refunds/omits are not included in the "increase"
calculation as the amount was part of prior year levy but never col lected.
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