HomeMy WebLinkAbout3078ORDINANCE NO. \307Y
7D
AN ORDINANCE of the City of Kent,
Washington, fixing the tax levy therein for
the year 1993.
THE CITY COUNCIL OF THE CITY OF KENT HEREBY ORDAINS AS
FOLLOWS:
Section 1. Levy. There shall be and there is hereby
levied against the property in the City of Kent, Washington, on an
assessed value of a municipal tax for the year 1993 for the
purposes and in the sums following, to wit:
Fund
Levy per $1,000 of
assessed valuation Amount
For the General Fund, for the purpose of paying the
general expenses of municipal government:
General Fund
2.56007
$10,124,967
For Voted Bond Interest and Redemption Fund, for the
purpose of paying debt service on the following projects:
Fire Apparatus .01142 $44,981
Public Safety .30422 $1,198,208
Senior Housing .17744 $698,886
PROVIDED: that the application of the general fund levy
shall be consistent with and not result in a tax revenue in excess
of the limitation imposed by RCW 84.55.010.
Section 2. Effective date.
effect and be in force five (5) days
as provided by law.
tATTEST:
BRENDA JACOBER, C'iT CLERK
APPROVED AS TO FORM:
ER A.-
PASSED
:
PASSED the ��_ day of
APPROVED the day of
PUBLISHED the day of
N
This ordinance shall take
om and after its publication
KELLEHER, MAYOR
. 1992.
1992.
, 1992.
I hereby certify that this is a true and correct copy of
Ordinance No. ti D , passed by the City Council of the City of
Kent, Washington, and approvd by the Mayor of the City of Kent as
hereon indicated. i'7 /�
taxlevy.ord
2
JACOBER, CITY CLERK
( SEAL)
TAXI^fig DISTRICT :TTTI'
The following calculations are offered as an aid in your determination of the dollar
limitation imposed by statute on the 1993 regular property levy for your district.
I'W"im um, Cumulative levy 9,413,2711
1990
Faaular Levy
7,730,603
1991
Regular LP -%-y
6,622,057
1992
regular Levy
9,413,274
1992
Regular Levy Rate
2.68222
1992 R&" ULZ.R LL'W_ 9,425,304
Less Refund Fund 12,030
Effective 1992 Levy(5) 9,413,274
X05% LIt TATZON CAI1; UT�nTI01d (RC71 H,55,020)
9,413,274 Highest/Maxim--ii prior levy (5)
x 106% = 9,978,070 106 Levy
44,577,046 Local New Construction
+ 2,128,064 State Public Service New Construction (1)
46,705,110 Total New Construction
x 2.66222 1992 Levy Rate
125,273 New Construction In_vy
9,978,070
106% Levy
+ 125,273
New Construction Levy
- 20,047
Omitted Assessrrant levy (3)
= 10, 083, 296
Levy Ceiling (Iess Annexations
& Omitted PssessnNents)
/ 3, 933, 0-82,1-79
Assessed Value (Less Annexations
& Cenitted Assessments)
= 2.56C07
1993 Levy Rate
0
Annexation Assessed Value
x 2.56007
1993 Levy Rate
= 0
Annexation Levy
+ 20,047
Omitted Assess-ent Levy (3)
+ 10,033,21-16
Levy Ceiling (!P -ss Annexations
& omitted Assessrrents)
- 10,103, 343
Maxi7am 1993 Levy Based on 10A
Limit (2)
i 21,624
Refund hind (4)
_ "_0,124, 967
1993 Levy Based on 106
Limit (2) + Refund F'umd (4)
iLLT�TOily T�Vi' G�Lf JT�nTT(1,.� (rrd 84.52.043)
3, 938, 682, 179 Assessed Value (Excluding Quits)
3.60000 Maximumn Statutory Fate
--4,179,250- m✓,dxL-ff ml 1993 Levy (ELY..cluding Omitted Pssessrpant Levy)
4- 20,00 Cmitte<d Assessrrarit Levy (3)
'_4,199, 3C3 1993 :ivy Based on Statutory Levy (2)
10, 124, 967 ?,1-7iximnum 1993 Levy (2)
ALL MLJi S IIZICA=-- PRM;Z 7-j�E TIC ] 7%R TIE TAX IS PAYABLEE
(1) Increase in S.P.S. value considered as new construction.(RCW 84.55.010)
(2) District is entitled to mahirmnn levy determined by 106% calculation or maximum
statutory rate calculation, whichever is the lesser amount.
(3) An omitted assessment is property value that should have been included on a
prior years tax roll but will be included on the current (1993) tax roll. Omits_ are,
assessed and tatted at the rate in effect for the year omitted (RCW 84.40.080-
84.40.085). For the purpose of computing levy rates, the tax a district will
receive from omitted assessments is deducted from the current levy amount. Omits
will be billed based on the omitted years rate and included as a current years tax
receivable.
(4) RCW 84.69.020 type (administrative) refunds have been removed from the 106% levy
lid by the 1981 legislative session. (RCW 84.55.070)
(5) 106% levy based on maximum amount allowed under RCW 84.55.092.
PROPERTY TAX COMPARISON
CHANGE
1991 1992 1993 FROM
ACTUAL ACTUAL CHANGE BUDGET 1992
A.V. LESS NEW CONSTRUCTION 3,246,057,188
3,399,740,979
153,683,791
3,891,977,069
492,236,090 14.5%
NEW CONSTRUCTION 156,082,063
108,386,499
(47,695,564)
46,705,110
(61,681,389) -56.9%
TOTAL ASSESSED VALUATION 3,402,139,251
3,508,127,478
105,988,227
3,938,682,179
430,554,701 12.3%
PROPERTY TAX LEVIES:
GENERAL FUND
8,639,323
9,425,258
785,935
10,124,967
699,709
7.4%
FIRE APPARATUS
56,384
38,226
(18,158)
44,981
6,755
17.7%
PUBLIC SAFETY
675,852
1,092,318
416,466
1,198,208
105,890
9.7%
SENIOR HOUSING
681,639
653,175
(28,464)
698,886
45,711
7.0%
TOTAL
10,053,198
11,208,977
1,155,779
12,067,042
858,065
7.7%
LEVY RATES:
GENERAL FUND
2.54
2.68
0.14
2.56 *
(0.120)
-4.5%
FIRE APPARATUS
0.02
0.01
(0.01)
0.01
PUBLIC SAFETY
0.20
0.31
0.11
0.30
(0.010)
-3.2%
SENIOR HOUSING
0.20
0.19
(0.01)
0.18
(0.010)
-5.3%
TOTAL
2.96
3.19
0.23
3.05
(0.14)
-4.4%
* The 1993 tax levy rate is 2.56007. The formula for calculating the levy rate is limited to
106% of the last three years' highest regular levy plus new construction at the previous year's
rate. The formula excludes omitted assessments (they are taxed at the rate in effect for the year
that they should have been included), and administrative adjustments.
CCC PROPTX2.WQ1 08 -Dec -92