HomeMy WebLinkAbout3539Ordinance No. 3539
["Beginning July 1, 1998"]
(Amending or Repealing Ordinances)
AMENDING Ord 3532
ORDINANCE NO. 3.5 3'1
AN ORDINANCE of the City Council of the City of
Kent, Washington, amending Ordinance No. 3532 which
established the 2001 tax levy and authorized a 2.0% increase
in the 2000 levy of property taxes for collection in the year
2001 in addition to increases resulting from the addition of
new construction and improvements to property, and any
increase in the value of state -assessed property, the refund
fund levy, and annexed properties.
WHEREAS, pursuant to RCW 84.55.120 and after providing all
appropriate notice, the City Council held a public hearing on September 19, 2000, to
consider the City of Kent's proposed operating and capital budget for the 2001 calendar
year, and held a public hearing on November 21, 2000, to address the City's 2000 property
tax levy, revenues and limit factors, as well as the proposed 2001 budget; and
WHEREAS, after these hearings, and after duly considering all relevant
evidence and testimony presented, the City Council on December 12, 2000, adopted
Ordinance No. 3532 which established the year 2001 tax levy for the 2001 budget year by
reducing the City's property tax levy rate by approximately 5.8% by limiting the property
tax increase to 2.0% for inflation, as measured by the implicit price deflator ("IM"), as
defined by Referendum 47, over the 1999 regular property tax levy, in addition to the
increase resulting from the addition of new construction and improvements to property, and
1 Tax Levy — 2001
Amendment to Ord. 3532
any increase in the value of state -assessed property, the refund fund levy, and annexed
properties; and
WHEREAS, following adoption of Ordinance No. 3532 establishing the
year 2001 tax levy for the 2001 budget year, King County issued the final assessed
valuation which included the State Department of Revenue assessments for state assessed
public utilities showing no increase in assessed values from the prior year; and
WHEREAS, these new state assessed public utility values reduce the total
amount of the tax levy by approximately $55,570.00, which caused Ordinance No. 3532
to need a technical adjustment; and
WHEREAS, the City Council, when adopting Ordinance No. 3532,
intended to establish a regular property tax levy, in addition to the increase resulting from
the addition of new construction and improvements to property and any increase in the
value of state -assessed property, the refund fund levy, and annexed properties, in an
amount not to exceed the previous year's regular property tax levy, plus a two percent (2%)
increase for inflation; and
WHEREAS, it is the City Council's desire to maintain a two percent (2%)
limit on the regular property tax levy increase for inflation and, therefore, amend the tax
levy amount by reducing the amount levied in Ordinance No. 3532 by $55,570.00, for a
total regular levy of $19,764,357.00, thereby reducing the total property tax levy rate from
the estimated 5.8% to approximately 6.1%; NOW THEREFORE,
THE CITY COUNCIL OF THE CITY OF KENT, WASHINGTON, DOES
HEREBY ORDAIN AS FOLLOWS:
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Amendment to Ord. 3532
SECTION 1. Recitals Incorporated. The City Council finds that the
foregoing recitals are incorporated as if fully set forth herein.
SECTION 2. Section 3 of Ordinance No. 3532 is hereby amended as
follows:
SECTION 3. Levy. There is hereby levied against the
property in the City of Kent, Washington, an assessed value for the
City's 2001 municipal tax in the following amounts for the following
funds:
A. For the General Fund, for the purpose of paying the general
expenses of municipal government:
Levy per $1,000 of
assessed valuation
Fund (estimated) Amount
General Fund 2.778 W'80,927.000
2.7701 S19.764.357.00
B. For Voted Bond Interest and Redemption Fund, for the
purpose of paying debt service in the following amounts for
the following funds:
Levy per $1,000 of
assessed valuation
Fund (estimated) Amount
General Obligation .2383 $1,700,000.00
Refunding
SECTION 3. Severability. If any one or more sections, subsections, or
sentences of this Ordinance are held to be unconstitutional or invalid, such decision shall
not affect the validity of the remaining portion of this Ordinance and the same shall
in full force and effect.
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Amendment to Ord. 3532
SECTION 4. Effective Date. This Ordinance shall take effect and be in
force five (5) days from and after its passage, approval, and publication as provided by law.
MAYOR
ATTEST:
BRENDA JACO , CITY CLERK - -
APPROVED AS TO FORM:
A. LUBOVICH, CITY
PASSED: day of , 2001.
APPROVED: 3 day of , 2001.
PUBLISHED: -1 day of *4,4� , 2001.
I hereby certify that this is a true copy of Ordinance No. , passed by t
City Council of the City of Kent, Washington, and approved by the Mayor of the City
Kent as hereon indicated.
(S
- _ - BRENDA JACO E , CITY CLERK
P \Cm1\0rdinance\TaxAd¢001 inflation AMEND doc
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Amendment to Ord. 353