Title
A RESOLUTION ACCEPTING THE AMOUNTS AND RATES AS DETERMINED BY THE BUDGET COMMISSION AND AUTHORIZING THE NECESSARY TAX LEVIES AND CERTIFYING THEM TO THE COUNTY FISCAL OFFICER; AND DECLARING AN EMERGENCY.
Executive Summary: Each year the City is required to pass a resolution accepting the property tax amounts and rates as determined by the County Budget Commission.
Body
Legislative History
None.
Purpose & Explanation
The City's property tax rates do not change from one year to the next except for new or expiring levies or for an adjustment to a debt (i.e. bond) levy because of a change in property tax valuation and/or an increase in the available balance in a debt service fund. There are no new or expiring property taxes for tax year 2014 and the adjustments to the bond levies would be very minor.
Attached as Exhibit A is the property tax schedule that includes the rates and estimated amounts.
Timing Considerations
We must file the approved Resolution with the Summit County Fiscal Officer by November 10, 2014.
Fiscal Impact
Currently Budgeted
Supplemental Appropriation Required
X Appropriation Not Required.
Recommendation
Suggested Action
Staff recommends Council pass the Resolution accepting the amounts and rates.
Submitted by,
Jane Howington, City Manager
Jeff Knoblauch, Finance Director