Title
A RESOLUTION AUTHORIZING ADVANCES OF LOCAL TAXES; AND DECLARING AN EMERGENCY.
Executive Summary: This is an annual resolution passed by City Council that authorizes the Summit County Fiscal Officer to advance property taxes to the City. This resolution is required for tax year 2012 payable in 2013.
Body
Legislative History
ORC 321.34 requires a resolution from the City each year.
Purpose & Explanation
The purpose is to allow the City to obtain property taxes in advance of the County's settlement. Each year, property taxes are due in February and August. The City typically receives advances in February and March prior to the April settlement and July and August prior to the September settlement.
Timing Considerations
This resolution is required to passed each year.
Fiscal Impact
Currently Budgeted
Supplemental Appropriation Required
X Appropriation Not Required.
Suggested Action
Recommendation
Staff recommends passing the resolution authorizing the Summit County Fiscal Officer to advance property taxes to the City.
Submitted by,
Jeff Knoblauch
Finance Director