Public Hearing on 2016 Budget Revenue Sources & Adoption of 2016 Property Tax Levy

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Public Hearing on 2016 Budget Revenue Sources & Adoption of 2016 Property Tax Levy"

Transcription

1 Public Hearing on 2016 Budget Revenue Sources & Adoption of 2016 Property Tax Levy Overview of Tonight s 2016 Budget & Property Tax Agenda Items 1) Open Public Hearing 2) Accept Public comment 3) Staff will share a presentation on property taxes 4) Council will be asked to approve the attached Substantial Need Resolution 5) Council will be asked to approve the attached 2016 Property tax Ordinance 6) Next, staff will present Recommended Changes to the 2016 Budget Decision Packages 7) Next, Council to resume discussion of the 2016 Budget 8) Continue Public Hearing to December 1st,

2 2016 Regular Property Tax Levy 2016 Budget Includes 1% Property Tax Increase Assessor Shows City of Edmonds Assessed Values Increasing 8.22% (Increase in AV before adding in new construction) New Construction adds $43.5 million Assessed Value 2

3 2016 Regular Property Tax Calculation Step 1: Start From Prior Year Levy Amount 2016 Regular Property Tax Calculation for the City of Edmonds Description Amount 2015 Levy Amount $9,970,971 Add New Construction Add Allowance for Adjustments Add Refunds 2016 Starting Point $9,970,971 Add 1% of 2015 Levy Total 2016 Levy $9,970,971 3

4 2016 Regular Property Tax Calculation Step 2: Add Property Tax From New Construction 2016 Regular Property Tax Calculation for the City of Edmonds Description Amount 2015 Levy Amount $9,970,971 Add New Construction $64,017 Add Allowance for Adjustments Add Refunds 2016 Starting Point $10,034,988 Add 1% of 2015 Levy Total 2016 Levy $10,034,988 4

5 2016 Regular Property Tax Calculation Step 3: Add allowance for Assessor s Office Adjustments 2016 Regular Property Tax Calculation for the City of Edmonds Description Amount 2015 Levy Amount $9,970,971 Add New Construction $64,017 Add Allowance for Adjustments $9,553 Add Refunds 2016 Starting Point $10,044,541 Add 1% of 2015 Levy Total 2016 Levy $10,044,541 5

6 2016 Regular Property Tax Calculation Step 4: Add Refunds 2016 Regular Property Tax Calculation for the City of Edmonds Description Amount 2015 Levy Amount $9,970,971 Add New Construction $64,017 Add Allowance for Adjustments $9,553 Add Refunds $ Starting Point $10,044,988 Add 1% of 2015 Levy Total 2016 Levy $10,044,988 6

7 2016 Regular Property Tax Calculation Step 5: Add 1% 2016 Regular Property Tax Calculation for the City of Edmonds Description Amount 2015 Levy Amount $9,970,971 Add New Construction $64,017 Add Allowance for Adjustments $9,553 Add Refunds $ Starting Point $10,044,988 Add 1% of 2015 Levy $99,710 Total 2016 Levy $10,144,698 7

8 Assessed Value History Ten Year Assessed Property Values History For the City $9,000,000,000 $8,000,000,000 $7,000,000,000 $6,000,000,000 $6,612,373,915 $7,709,209,490 $7,376,182,114 $5,000,000,000 $5,545,239,847 $4,000,000,000 $3,000,000,000 $2,000,000,000 $1,000,000,000 $

9 Tax Rate History $ $ $ $ $ $ $ $ $ $ $ $ City of Edmonds Regular Property Rate per $1,000 of Assessed Value History $ $ $

10 EMS Tax Levy Overview In 2008, Citizens voted to make the EMS Levy a Permanent $0.50 Levy During we saw our Assessed Property Values decline During this span of time Edmonds AV dropped just over 31% EMS Levy cannot exceed $0.50 In a declining AV environment, the City s EMS Levy also declines 10

11 EMS Tax Levy continued Year Action EMS Levy Levy Savings 2009 $0.50 Permanent EMS Levy becomes effective $3,854,605 $0 11

12 EMS Tax Levy continued Year Action EMS Levy Levy Savings 2009 $0.50 Permanent EMS Levy becomes effective $3,854,605 $ EMS Levy Declines $3,477,741 $376,864 12

13 EMS Tax Levy continued Year Action EMS Levy Levy Savings 2009 $0.50 Permanent EMS Levy becomes effective $3,854,605 $ EMS Levy Declines $3,477,741 $376, EMS Levy Declines $3,216,629 $637, EMS Levy Declines $2,897,322 $957, EMS Levy Declines $2,772,620 $1,081, EMS Levy Increases $3,051,206 $803, EMS Levy Increases $3,387,743 $466, EMS Levy Increases $3,692,091 $162,514 $4,486,883 13

14 Levy Rate History $0.60 EMS Levy Rate per $1,000 of Assessed Value History $0.50 $0.40 $0.30 $0.36 $0.32 $0.50 $0.50 $0.20 $0.10 $

15 EMS Tax Levy Calculation Step 1: Start From Prior Year Levy Amount 2016 EMS Property Tax Calculation for the City of Edmonds Description Amount 2015 Levy Amount 3,387,743 Add New Construction Add Allowance for Adjustments Add Refunds 2015 EMS Levy $3,387,743 Add "Banked Capacity" Total 2016 Levy $3,387,743 15

16 EMS Tax Levy Calculation Step 2: Add Levy Tax From New Construction 2016 EMS Property Tax Calculation for the City of Edmonds Description Amount 2015 Levy Amount 3,387,743 Add New Construction $21,750 Add Allowance for Adjustments Add Refunds 2015 EMS Levy $3,409,493 Add "Banked Capacity" Total 2016 Levy $3,409,493 16

17 EMS Tax Levy Calculation Step 3: Add Allowance for Assessor s Office Adjustments 2016 EMS Property Tax Calculation for the City of Edmonds Description Amount 2015 Levy Amount 3,387,743 Add New Construction $21,750 Add Allowance for Adjustments $3,540 Add Refunds 2015 EMS Levy $3,413,033 Add "Banked Capacity" Total 2016 Levy $3,413,033 17

18 EMS Tax Levy Calculation Step 4: Add Refunds 2016 EMS Property Tax Calculation for the City of Edmonds Description Amount 2015 Levy Amount 3,387,743 Add New Construction $21,750 Add Allowance for Adjustments $3,540 Add Refunds $ EMS Levy $3,413,493 Add "Banked Capacity" Total 2016 Levy $3,413,493 18

19 EMS Tax Levy Calculation Step 5: Add Banked Capacity 2016 EMS Property Tax Calculation for the City of Edmonds Description Amount 2015 Levy Amount 3,387,743 Add New Construction $21,750 Add Allowance for Adjustments $3,540 Add Refunds $ EMS Levy $3,413,493 Add "Banked Capacity" $278,598 Total 2016 Levy $3,692,091 19

20 Impacts of Tax Increases 2015 Average Residence Value is $394,700 1% Regular Tax Levy Increase = $5.81 Keeping EMS Levy at $0.50 = $16.22 Average Residence would pay $22.03 in 2016 Or about $1.84 per month extra 20

21 Council Motions 1) To Approve Resolution No. XXXX Finding Substantial Need to Levy Property Taxes Using a Limit Factor of 101% Notwithstanding a Lower National Inflation Rate. 2) To Approve Ordinance No. XXXX Levying 1% Regular Property Tax Increase for 2016, Levying 8.2% EMS Tax Increase and Levying $949,540 for Public Safety Voted Debt for Public Safety Complex. 21

Oregon s Property Tax System

Oregon s Property Tax System Oregon s Property Tax System History of Oregon s Property Tax System 1990 to Current Levy Based System - 1990 Levy Based, Rate Limited System - 1991 to 1996 Rate Based System 1997 to Current Levy Based

More information

Council Meeting: 11/15/2011 Agenda: Public Hearings Item #: 9.a. and 9.b

Council Meeting: 11/15/2011 Agenda: Public Hearings Item #: 9.a. and 9.b Council Meeting: 11/15/2011 Agenda: Public Hearings Item #: 9.a. and 9.b CITY OF KIRKLAND Department of Finance & Administration 123 Fifth Avenue, Kirkland, WA 98033 425.587.3100 www.kirklandwa.gov MEMORANDUM

More information

SCHOOL LOCAL PROPERTY TAX OPTION 1999 Legislation

SCHOOL LOCAL PROPERTY TAX OPTION 1999 Legislation STATE OF OREGON LEGISLATIVE REVENUE OFFICE H-197 State Capitol Building Salem, Oregon 97310-1347 Research Report (503) 986-1266 Research Report # 5-99 SCHOOL LOCAL PROPERTY TAX OPTION 1999 Legislation

More information

CITY OF KIRKLAND Department of Finance & Administration 123 Fifth Avenue, Kirkland, WA 98033 425.587.3100 www.kirklandwa.gov

CITY OF KIRKLAND Department of Finance & Administration 123 Fifth Avenue, Kirkland, WA 98033 425.587.3100 www.kirklandwa.gov Council Meeting: 11/18/2014 Agenda: Public Hearings Item #: 9. a. (1). (2). CITY OF KIRKLAND Department of Finance & Administration 123 Fifth Avenue, Kirkland, WA 98033 425.587.3100 www.kirklandwa.gov

More information

Be it enacted by the People of the State of Illinois,

Be it enacted by the People of the State of Illinois, AN ACT concerning local government. Be it enacted by the People of the State of Illinois, represented in the General Assembly: Section 5. The Property Tax Code is amended by changing Section 20-25 as follows:

More information

RATE SHEET CITY OF WICHITA

RATE SHEET CITY OF WICHITA 3 Years $36,000 Home Care Insurance Home Care Simple Inflation Simple Inflation 18-30 5.00 7.60 7.10 10.70 31 5.00 7.60 7.20 10.80 32 5.00 7.70 7.30 11.00 33 5.30 7.90 7.50 11.30 34 5.40 8.20 8.00 12.00

More information

Special Taxing Districts The Tax Process The term "taxing district" for the purposes of this section shall mean any political subdivision, municipal corporation, district, or other governmental agency

More information

I move that the City Commission (set/not set) the public hearing on Resolution 10150 Intent to Increase Property Tax for July 19, 2016.

I move that the City Commission (set/not set) the public hearing on Resolution 10150 Intent to Increase Property Tax for July 19, 2016. Agenda # 18 Commission Meeting Date: July 5, 2016 CITY OF GREAT FALLS COMMISSION AGENDA REPORT Item: From: Initiated By: Presented By: Action Requested: Set Public Hearing on Resolution 10150 Intent to

More information

City Hall Council Chambers

City Hall Council Chambers ADDENDUM AGENDA REGULAR CITY COUNCIL MEETING New Ulm, Minnesota City Hall Council Chambers May 20, 2014 5: 00 P. M. Motion to suspend the rules for action on the addendum. NEW BUSINESS: a. Consider resolution

More information

FY16 City Council Public Hearing and Financial Summary Notice... 373

FY16 City Council Public Hearing and Financial Summary Notice... 373 Legal Forms Table of Contents FY16 Adopted Budget Resolution... 357 Exhibit A Expenditure Appropriations by Fund... 359 Exhibit B Fund Names... 365 FY16 State Shared Revenues Resolution... 367 FY16 State

More information

Adopting a City Budget and Property Tax Rate Training Austin Texas February 2015

Adopting a City Budget and Property Tax Rate Training Austin Texas February 2015 Adopting a City Budget and Property Tax Rate Training Austin Texas February 2015 Leela R. Fireside, Assistant City Attorney, Austin Texas. (contact info: leela.fireside@austintexas.gov or (512) 974-2163)

More information

2012 Truth-In- Taxation

2012 Truth-In- Taxation 2012 Truth-In- Taxation Susan Combs Texas Comptroller of Public Accounts A Guide for Setting Tax Rates for Taxing Units Other than Schools Texas Property Tax Table of Contents Introduction.... 1 Chapter

More information

Voted Property Tax Levies. Agenda. Property Tax Overview. There are two types of property subject to taxation

Voted Property Tax Levies. Agenda. Property Tax Overview. There are two types of property subject to taxation Voted Property Tax Levies Prepared for the 11 th Annual Local Government Officials Conference April 7, 2010 Shelley Wilson, Executive Administrator Tax Equalization Division Ohio Department of Taxation

More information

CHAPTER 20B MUNICIPAL SERVICES SPECIAL TAX

CHAPTER 20B MUNICIPAL SERVICES SPECIAL TAX CHAPTER 20B MUNICIPAL SERVICES SPECIAL TAX 20B.1 20B.2 20B.3 20B.4 20B.5 20B.6 20B.7 20B.8 20B.9 20B.10 20B.11 20B.12 Authority to Adopt Measure Authorization to Levy Special Municipal Tax Determination

More information

Minnetonka Independent School District 276 Levy Adoption Taxes Payable in 2012

Minnetonka Independent School District 276 Levy Adoption Taxes Payable in 2012 Minnetonka Independent School District 276 Levy Adoption Taxes Payable in 2012 Public Schools Established by Minnesota Constitution ARTICLE XIII MISCELLANEOUS SUBJECTS Section 1. UNIFORM SYSTEM OF PUBLIC

More information

Adopting a City Budget and Property Tax Rate Training Austin Texas February 2013

Adopting a City Budget and Property Tax Rate Training Austin Texas February 2013 Adopting a City Budget and Property Tax Rate Training Austin Texas February 2013 Leela R. Fireside, Assistant City Attorney, Austin Texas. (contact info: leela.fireside@ci.austin.tx.us or (512) 974-2163)

More information

Incurring of Indebtedness

Incurring of Indebtedness Incurring of Indebtedness Goals for this Session Basic Understanding of: The decision to borrow Financing options Overview of the State Bond Commission The Decision to Borrow Develop a long range plan

More information

BROOKVILLE CITY COUNCIL REGULAR MEETING June 15, 2010

BROOKVILLE CITY COUNCIL REGULAR MEETING June 15, 2010 BROOKVILLE CITY COUNCIL REGULAR MEETING June 15, 2010 The Regular Meeting of the Brookville City Council was called to order by Mayor Seagraves at 7:30 p.m. on June 15, 2010 in the City Council Chambers.

More information

150-303-405 (Rev. 6-09)

150-303-405 (Rev. 6-09) A Brief History of Oregon Property Taxation 150-303-405-1 (Rev. 6-09) 150-303-405 (Rev. 6-09) To understand the current structure of Oregon s property tax system, it is helpful to view the system in a

More information

GFOA NYS UNDERSTANDING THE NEW REAL PROPERTY TAX LEVY CAP. New York State Government Finance Officers' Association, Inc.

GFOA NYS UNDERSTANDING THE NEW REAL PROPERTY TAX LEVY CAP. New York State Government Finance Officers' Association, Inc. UNDERSTANDING THE NEW REAL PROPERTY TAX LEVY CAP (How the Real Property Tax Levy Percentage Cap and the Real Property Tax Rate Differ) It seems everywhere you turn people are talking about the Tax Cap.

More information

CHAPTER 234 HOUSE BILL 2131 AN ACT AMENDING SECTIONS 12-348, 41-1007 AND 42-2064, ARIZONA REVISED STATUTES; RELATING TO TAX ADJUDICATIONS.

CHAPTER 234 HOUSE BILL 2131 AN ACT AMENDING SECTIONS 12-348, 41-1007 AND 42-2064, ARIZONA REVISED STATUTES; RELATING TO TAX ADJUDICATIONS. Senate Engrossed House Bill State of Arizona House of Representatives Fifty-second Legislature First Regular Session 0 CHAPTER HOUSE BILL AN ACT AMENDING SECTIONS -, -00 AND -0, ARIZONA REVISED STATUTES;

More information

NEW CONSTRUCTION BP 7214. General Obligation Bonds. I-Facilities

NEW CONSTRUCTION BP 7214. General Obligation Bonds. I-Facilities NEW CONSTRUCTION General Obligation Bonds I-Facilities The Governing Board recognizes that school facilities are an essential component of the educational program and that the Board has a responsibility

More information

L Public Hearing. BOARD OF COUNTY COMMISSIONERS DATE: November 8,2011 AGENDA ITEM NO. County Administrator's Siqnature: Subiect:

L Public Hearing. BOARD OF COUNTY COMMISSIONERS DATE: November 8,2011 AGENDA ITEM NO. County Administrator's Siqnature: Subiect: Consent Agenda mgular Agenda F County Administrator's Siqnature: /' Subiect: BOARD OF COUNTY COMMISSIONERS DATE: November 8,2011 AGENDA ITEM NO. L Public Hearing Approval of Tax Equity Fiscal Responsibility

More information

Understanding Texas Property Taxes

Understanding Texas Property Taxes Understanding Texas Property Taxes { Cheryl E. Johnson, PCC Galveston County Tax Assessor /Collector Property taxes are the primary* funding source for most local governments *Funding may also be secured

More information

OVERVIEW OF ARIZONA STATE PROPERTY TAX SYSTEM IN MARICOPA COUNTY

OVERVIEW OF ARIZONA STATE PROPERTY TAX SYSTEM IN MARICOPA COUNTY Maricopa County Department of Finance Prepared: 10/22/13 OVERVIEW OF ARIZONA STATE PROPERTY TAX SYSTEM IN MARICOPA COUNTY The following Overview of the Arizona State Property Tax System was prepared by

More information

Libraries. The local library only has to qualify under one of the two tests.

Libraries. The local library only has to qualify under one of the two tests. October 24, 2012 Libraries Question: Is there a minimum mill levy rate to qualify for the Library Grant? For example does a city need to have a Levy Rate above 2.0 to qualify? If the city does in fact

More information

William Floyd School District. Budget Advisory Commi1ee High School Library 7:15 pm 8:00 pm

William Floyd School District. Budget Advisory Commi1ee High School Library 7:15 pm 8:00 pm William Floyd School District Budget Advisory Commi1ee High School Library 7:15 pm 8:00 pm Welcome q Thank you for joining us tonight q Please sign in q We welcome your ac>ve par>cipa>on, sugges>ons and

More information

ADDENDUM. March 23, 2015

ADDENDUM. March 23, 2015 ADDENDUM March 23, 2015 Finance D. Bond Refinancing Second Reading RESOLUTION OF THE BOARD OF EDUCATION OF THE ALLAMUCHY TOWNSHIP SCHOOL DISTRICT IN THE COUNTY OF WARREN, NEW JERSEY APPROVING, ON FIRST

More information

SCHOOL LOCAL OPTION PROPERTY TAX

SCHOOL LOCAL OPTION PROPERTY TAX STATE OF OREGON LEGISLATIVE REVENUE OFFICE State Capitol Building 900 Court St. NE, Room H-197 Salem, Oregon 97310-1347 Research Report (503) 986-1266 FAX 503-986-1770 www.leg.state.or.us/lro/home.ht m

More information

CFDs, SFIDs, and DEVELOPER FEES

CFDs, SFIDs, and DEVELOPER FEES CFDs, SFIDs, and DEVELOPER FEES Sandi Burgoyne, Director Poway Unified School District 13626 Twin Peaks Road Poway, CA 92064 AUGUST 23, 2013 Community Facilities Districts (CFDs) - Just What Are They»

More information

Adopted Budget: The budget formally adopted by the Board of Commissioners for the upcoming fiscal year.

Adopted Budget: The budget formally adopted by the Board of Commissioners for the upcoming fiscal year. 289 Accrual Basis of Accounting: The primary basis of recording assets, liabilities, revenues, and expenses for a government s business-like activities. Under the accrual basis, revenues are recognized

More information

FY16 County Extension Budget Procedures and addendum list of best practices

FY16 County Extension Budget Procedures and addendum list of best practices County Services and Outreach 2280 Beardshear Hall, ISU Ames, IA 50011-2026 Phone: (515) 294-6402 FAX: (515) 294-9781 Date: October 21, 2014 To: From: RE: County Point of Contacts Regional Directors County

More information

M e m o r a n d u m. Introduction. Section 170

M e m o r a n d u m. Introduction. Section 170 State of California Board of Equalization Property and Special Taxes Department M e m o r a n d u m To: Honorable John Chiang, Chair Honorable Claude Parrish, Vice-Chairman Ms. Betty T. Yee, Acting Board

More information

NAPA COUNTY BOARD OF SUPERVISORS Board Agenda Letter

NAPA COUNTY BOARD OF SUPERVISORS Board Agenda Letter Agenda Date: 2/11/2014 Agenda Placement: 9C Set Time: 2:00 PM Estimated Report Time: 15 minutes NAPA COUNTY BOARD OF SUPERVISORS Board Agenda Letter TO: FROM: Board of Supervisors Leanne Link for Nancy

More information

Property Tax Levies. Agenda. Property Tax Overview. There are two types of property subject to taxation:

Property Tax Levies. Agenda. Property Tax Overview. There are two types of property subject to taxation: Property Tax Levies Prepared for the 2013 Annual Local Government Officials Conference April 4, 2013 Tax Equalization Division Ohio Department of Taxation Agenda I: Types of Property Tax II: Inside Millage

More information

County Services and Outreach 2280 Beardshear Hall, ISU Ames, IA 50011-2026 Phone: (515) 294-6402 FAX: (515) 294-9781. Date: October 26, 2015

County Services and Outreach 2280 Beardshear Hall, ISU Ames, IA 50011-2026 Phone: (515) 294-6402 FAX: (515) 294-9781. Date: October 26, 2015 County Services and Outreach 2280 Beardshear Hall, ISU Ames, IA 50011-2026 Phone: (515) 294-6402 FAX: (515) 294-9781 Date: October 26, 2015 To: From: RE: County Point of Contacts Regional Directors County

More information

Local Budgeting in Oregon

Local Budgeting in Oregon Local Budgeting in Oregon 150-504-400 (Rev. 02-14) Local Budgeting in Oregon Table of contents First, the basics...1 What is the law? What is a budget? Who is on the budget committee? The budget cycle...2

More information

YOUR PROPERTY TAXES. understanding property tax. assessments. appeal process. property taxes and schools. frequently asked questions.

YOUR PROPERTY TAXES. understanding property tax. assessments. appeal process. property taxes and schools. frequently asked questions. 2006 YOUR PROPERTY TAXES understanding property tax assessments appeal process property taxes and schools frequently asked questions relief programs legislation South Dakota Department of Revenue & Regulation

More information

Navigating through Year Two. Property Tax Levy Cap

Navigating through Year Two. Property Tax Levy Cap Published March 2013 Navigating through Year Two of New York s Property Tax Levy Cap With year one of New York s property tax cap now behind us, details about the law s provisions and impact continue to

More information

SOLAR ENERGY IMPROVEMENT SPECIAL ASSESSMENT ACT

SOLAR ENERGY IMPROVEMENT SPECIAL ASSESSMENT ACT Taxation and Revenue Department Joseph M. Montoya Building 1100 South St. Francis Drive Post Office Box 630 Santa Fe NM 87504-0630 SOLAR ENERGY IMPROVEMENT SPECIAL ASSESSMENT ACT This page intentionally

More information

VILLAGE OF DOWNERS GROVE REPORT FOR THE VILLAGE COUNCIL MEETING NOVEMBER 6, 2007 AGENDA

VILLAGE OF DOWNERS GROVE REPORT FOR THE VILLAGE COUNCIL MEETING NOVEMBER 6, 2007 AGENDA VILLAGE OF DOWNERS GROVE REPORT FOR THE VILLAGE COUNCIL MEETING NOVEMBER 6, 2007 AGENDA ITEM RES 00-03053 SUBJECT: TYPE: SUBMITTED BY: Professional Services Agreement Financial Advisor for potential future

More information

2015 LEVIES & PROPERTY TAX FACT SHEET

2015 LEVIES & PROPERTY TAX FACT SHEET 2015 LEVIES & PROPERTY TAX FACT SHEET Summary of 2014 Assessed Values and 2015 Levies Property value increases this year were due to a mix of new construction and trends in the market which resulted in

More information

2013 Truth-In- Taxation

2013 Truth-In- Taxation 2013 Truth-In- Taxation A Guide for Setting School District Tax Rates Susan Combs Texas Comptroller of Public Accounts Texas Property Tax Table of Contents Introduction.... 1 Chapter 1: Truth-in-Taxation

More information

ORDINANCE NO. 17-XXX

ORDINANCE NO. 17-XXX ORDINANCE NO. 17- AN ORDINANCE EXTENDING THE TERM OF THE FOURTH AND FIFTH CENT TOURIST DEVELOPMENT TAX IMPOSED BY ORDINANCE NO. S 02-36, 03-12 AS PREVIOUSLY EXTENDED BY ORDINANCE NO. 11-028 AND ORDINANCE

More information

School Spending and Proposed Taxes are Contained as School Districts Draw on Savings

School Spending and Proposed Taxes are Contained as School Districts Draw on Savings School Spending and Proposed Taxes are Contained as School Districts Draw on Savings May 2014 For use of NYSASBO data or analyses, please use the following source citation: SOURCE: New York State Association

More information

M E M O R A N D U M. Mayor Prussing and Members of the Urbana City Council

M E M O R A N D U M. Mayor Prussing and Members of the Urbana City Council M E M O R A N D U M TO: Mayor Prussing and Members of the Urbana City Council FROM: Interim Comptroller RE: Property Tax Levy DATE: November 7, 2013 Attached for your consideration is the 2013 property

More information

Legal Residence. What is the definition of Legal Residence?

Legal Residence. What is the definition of Legal Residence? Legal Residence To qualify for the special property tax assessment ratio allowed by this item, the owner-occupant must have actually owned and occupied the residence as his legal residence and been domiciled

More information

MOUNTAIN COMMUNITIES HEALTHCARE DISTRICT RESOLUTION RESOLUTION TO CONTINUE VOTER-APPROVED FUNDING WITH A TAX RATE REDUCTION

MOUNTAIN COMMUNITIES HEALTHCARE DISTRICT RESOLUTION RESOLUTION TO CONTINUE VOTER-APPROVED FUNDING WITH A TAX RATE REDUCTION MOUNTAIN COMMUNITIES HEALTHCARE DISTRICT RESOLUTION 2016-03 RESOLUTION TO CONTINUE VOTER-APPROVED FUNDING WITH A TAX RATE REDUCTION WHEREAS, The Mountain Communities Healthcare District ("District") was

More information

Bjerkness, Kolodge, Langley, Maki, Manderfeld, Wilkinson, Mayor Ahlgren.

Bjerkness, Kolodge, Langley, Maki, Manderfeld, Wilkinson, Mayor Ahlgren. 17 Council Chambers, Cloquet, Minnesota 7:00 o clock P.M. February 19, 2013 Regular Meeting. Roll Call. Councilors Present: Councilors Absent: Bjerkness, Kolodge, Langley, Maki, Manderfeld, Wilkinson,

More information

CITY OF GLENDALE, CALIFORNIA REPORT TO THE:

CITY OF GLENDALE, CALIFORNIA REPORT TO THE: CITY OF GLENDALE, CALIFORNIA REPORT TO THE: Joint D City Council D Housing Authority D Successor Agency ~ Oversight Board D June 11, 2013 AGENDA ITEM Report: Professional Service Agreements for Financial

More information

STAFF REPORT. 10-21-15 BOARD Agenda Item 13

STAFF REPORT. 10-21-15 BOARD Agenda Item 13 STAFF REPORT TO: Board of Directors THRU: Mark Foree, General Manager FROM: Jeff Tissier, Chief Financial Officer DATE: October 12, 2015 SUBJECT: Discussion and action on request for approval of Resolution

More information

Property Tax Levy Cap

Property Tax Levy Cap Published October 2011 Understanding New York s Property Tax Levy Cap as it relates to public schools In this first year of New York s property tax cap, details about its provisions and implementation

More information

82 DEPARTMENT OF THE TREASURY

82 DEPARTMENT OF THE TREASURY CHAPTER 62 AN ACT amending and supplementing the Fiscal Year 2015 annual appropriations act, P.L.2014, c.14. BE IT ENACTED by the Senate and the General Assembly of the State of New Jersey: 1. The following

More information

CITY OF HAYWARD HEART OF THE BAY

CITY OF HAYWARD HEART OF THE BAY CITY OF HAYWARD HEART OF THE BAY 8 DATE: TO: FROM: SUBJECT: February 17,2015 Mayor and City Council Director ofutilities & Environmental Services Sewer Connection Fees: Introduction ofordinance amending

More information

D Public Hearing ~ Proposed Ordinance Amending Code Section Relating to the Tourist Development Taxes.

D Public Hearing ~ Proposed Ordinance Amending Code Section Relating to the Tourist Development Taxes. Consent Agenda D Regular Agenda ~un!y Administrator's Signature: Subject: BOARD OF COUNTY COMMISSIONERS DATE: August 4, 2015 AGENDA ITEM NO. _2- D Public Hearing ~ Proposed Ordinance Amending Code Section

More information

MINUTES REGULAR/WORKSHOP MEETING JUNE 23, 2010 PAGE 1

MINUTES REGULAR/WORKSHOP MEETING JUNE 23, 2010 PAGE 1 MINUTES REGULAR/WORKSHOP MEETING JUNE 23, 2010 PAGE 1 THE JUNE 23, 2010 REGULAR/WORKSHOP TOWNSHIP COMMITTEE MEETING OF THE TOWNSHIP OF WATERFORD, CALLED TO ORDER AT 7:34 PM BY THE MAYOR, MARYANN MERLINO.

More information

Consolidated School District 158 Board of Education Levy Hearing December 16, 2010

Consolidated School District 158 Board of Education Levy Hearing December 16, 2010 Consolidated School District 158 Board of Education Levy Hearing December 16, 21 Meeting: Levy Hearing Time: 7: p.m. Location: Administrative Building, 65 Academic Drive, Algonquin, Illinois 612 Board

More information

THE BASE FORMULA PRIOR SCHOOL-YEAR TAX LEVY X TAX BASE GROWTH FACTOR + PILOTS RECEIVED IN PRIOR SCHOOL YEAR

THE BASE FORMULA PRIOR SCHOOL-YEAR TAX LEVY X TAX BASE GROWTH FACTOR + PILOTS RECEIVED IN PRIOR SCHOOL YEAR New York s Tax Levy Limit Formula: How does it add up? The quantity change factor, determined by the Dept. of Taxation and Finance for each district by Feb. 1. It s the year-to-year increase in the full

More information

LEGISLATIVE REVENUE OFFICE H-197 State Capitol Building Salem, Oregon 97310-1347 http://www.leg.state.or.us/comm/lrohome.htm

LEGISLATIVE REVENUE OFFICE H-197 State Capitol Building Salem, Oregon 97310-1347 http://www.leg.state.or.us/comm/lrohome.htm STATE OF OREGON LEGISLATIVE REVENUE OFFICE H-197 State Capitol Building Salem, Oregon 97310-1347 http://www.leg.state.or.us/comm/lrohome.htm Research Report (503) 986-1266 Research Report #6-99 The New

More information

INTRODUCTION. 2016 Budget. FY 2016 Budget. Annual Budget Process

INTRODUCTION. 2016 Budget. FY 2016 Budget. Annual Budget Process -Budget Brief - INTRODUCTION Welcome! Welcome to the third annual Citizens Budget Brief! This document is one of the ways to continue the conversation on the Maricopa County budget and how to best spend

More information

DESCRIPTION OF THE CHAIRMAN S MARK RELATING TO MODIFICATIONS TO ALTERNATIVE TAX FOR CERTAIN SMALL INSURANCE COMPANIES

DESCRIPTION OF THE CHAIRMAN S MARK RELATING TO MODIFICATIONS TO ALTERNATIVE TAX FOR CERTAIN SMALL INSURANCE COMPANIES DESCRIPTION OF THE CHAIRMAN S MARK RELATING TO MODIFICATIONS TO ALTERNATIVE TAX FOR CERTAIN SMALL INSURANCE COMPANIES Scheduled for Markup by the SENATE COMMITTEE ON FINANCE on February 11, 2015 Prepared

More information

NEW PHILADELPHIA CITY SCHOOLS FIVE-YEAR FORECAST 2015-2019

NEW PHILADELPHIA CITY SCHOOLS FIVE-YEAR FORECAST 2015-2019 Real Estate Tax Assumptions NEW PHILADELPHIA CITY SCHOOLS FIVE-YEAR FORECAST 2015-2019 REVENUE ASSUMPTIONS Real estate taxes had increased at approximately 1.1% to 2.0% through 2013 and a 0.5% increase

More information

Tashman Johnson LLC Consultants in Policy, Planning & Project Management

Tashman Johnson LLC Consultants in Policy, Planning & Project Management Tashman Johnson LLC Consultants in Policy, Planning & Project Management AN OVERVIEW OF URBAN RENEWAL Tashman Johnson LLC Jeffrey Tashman 503.245.7828 Nina Johnson 503.245.7416 Fax 503.245.3171 6585 S.W.

More information

Proposition 2½ Ballot Questions

Proposition 2½ Ballot Questions Association of Town Finance Committees Proposition 2½ Ballot Questions October 19, 2013 AGENDA Basic referendum procedures Town meeting & election sequencing Contingent appropriations Debt exclusion scope

More information

UNDERSTANDING PROPERTY TAXES IN COOK COUNTY

UNDERSTANDING PROPERTY TAXES IN COOK COUNTY UNDERSTANDING PROPERTY TAXES IN COOK COUNTY 1 A PERSPECTIVE COOK COUNTY NEW TRIER TOWNSHIP 2 nd Largest County in U.S. 5.3 Million People 1.8 Million Parcels 1.2 Million Residential Parcels One of Smallest

More information

Auraria Board of Directors Regular Meeting Agenda February 24, 2016 7:30 a.m. Tivoli 320 Baerresen Ballroom

Auraria Board of Directors Regular Meeting Agenda February 24, 2016 7:30 a.m. Tivoli 320 Baerresen Ballroom Auraria Board of Directors Regular Meeting Agenda February 24, 2016 7:30 a.m. Tivoli 320 Baerresen Ballroom Yolanda Ortega, Chair Maria Garcia Berry, Vice Chair Tamara Door Everette J. Freeman President,

More information

EUGENE CITY COUNCIL AGENDA ITEM SUMMARY

EUGENE CITY COUNCIL AGENDA ITEM SUMMARY EUGENE CITY COUNCIL AGENDA ITEM SUMMARY Public Hearing and Action: A Resolution Adopting the Budget, Making Appropriations, Determining, Levying and Categorizing the Annual Ad Valorem Property Tax Levy

More information

AGENDA ITEM ST. JOHNS COUNTY BOARD OF COUNTY COMMISSIONERS

AGENDA ITEM ST. JOHNS COUNTY BOARD OF COUNTY COMMISSIONERS 1 AGENDA ITEM ST. JOHNS COUNTY BOARD OF COUNTY COMMISSIONERS Deadline for Submission - Wednesday 9 a.m. Thirteen Days Prior to BCC Meeting 7/21/2015 BCC MEETING DATE TO: Michael D. Wanchick, County Administrator

More information

AN OVERVIEW OF ARKANSAS TAX INCREMENT FINANCING DISTRICT LAW. Tax increment financing districts, otherwise known as "redevelopment" or "TIF"

AN OVERVIEW OF ARKANSAS TAX INCREMENT FINANCING DISTRICT LAW. Tax increment financing districts, otherwise known as redevelopment or TIF AN OVERVIEW OF ARKANSAS TAX INCREMENT FINANCING DISTRICT LAW Tax increment financing districts, otherwise known as "redevelopment" or "TIF" districts, are used in many states as an economic development

More information

MICHIGAN DEPARTMENT OF TREASURY BUREAU OF STATE AND AUTHORITY FINANCE SCHOOL BOND QUALIFICATION AND LOAN PROGRAM

MICHIGAN DEPARTMENT OF TREASURY BUREAU OF STATE AND AUTHORITY FINANCE SCHOOL BOND QUALIFICATION AND LOAN PROGRAM MICHIGAN DEPARTMENT OF TREASURY BUREAU OF STATE AND AUTHORITY FINANCE SCHOOL BOND QUALIFICATION AND LOAN PROGRAM 2014 Annual Report Table of Contents 1 Program Overview 3 Statewide Perspective 4 School

More information

Harrison 2012 Budget Implications of the Tax Levy Cap

Harrison 2012 Budget Implications of the Tax Levy Cap Harrison 2012 Budget Implications of the Tax Levy Cap THE TAX CAP CHAPTER 97 OF THE LAWS OF 2011 Tax Cap Overview ENACTED JUNE 24, 2011 Program bill originated with Governor Cuomo Bill amended and passed

More information

Agenda Borough of Union Beach Thursday, September 18, 2014, 8:00 p.m. Council Meeting Room, Municipal Building 650 Poole Avenue, Union Beach, NJ

Agenda Borough of Union Beach Thursday, September 18, 2014, 8:00 p.m. Council Meeting Room, Municipal Building 650 Poole Avenue, Union Beach, NJ Agenda Borough of Union Beach Thursday, September 18, 2014, 8:00 p.m. Council Meeting Room, Municipal Building 650 Poole Avenue, Union Beach, NJ CALL TO ORDER: Meeting called to order by Mayor Paul J.

More information

MEMORANDUM CITY ATTORNEY S OFFICE. Re: Preliminary Analysis of Light Rail Initiative dated November 28, 2011. Factual Situation

MEMORANDUM CITY ATTORNEY S OFFICE. Re: Preliminary Analysis of Light Rail Initiative dated November 28, 2011. Factual Situation MEMORANDUM CITY ATTORNEY S OFFICE To: Mayor and Council From: Ted H. Gathe, City Attorney Linda A. Marousek, Assistant City Attorney Date: March 12, 2013 Re: Preliminary Analysis of Light Rail Initiative

More information

Attachment A Account Number Total Restitution Restitution (non-interest) Interest XXXX0556 $ 82.94 $ 73.26 $ 9.68 XXXX3784 $ 116.73 $ 102.45 $ 14.28 XXXX6859 $ 446.63 $ 405.48 $ 41.15 XXXX7630 $ 146.77

More information

Buncombe County Project Development Financing Policy

Buncombe County Project Development Financing Policy P and Buncombe County Project Development Financing Policy Overview: Project Development Financing (also known as Tax Increment Financing (TIF)) is a financial tool used by local governments to promote

More information

Administrative Directive

Administrative Directive Administrative Directive Title: Grant Management Index Number: AD 1.05 Date of Adoption: 09/06/94 Date of Revision: 06/30/2006 Page: 1 of 8 1.0 Purpose and Need Grant funds from state, federal, or other

More information

An overview of Colorado s state and local tax structures. Daphne Greenwood and Tom Brown

An overview of Colorado s state and local tax structures. Daphne Greenwood and Tom Brown An overview of Colorado s state and local tax structures Daphne Greenwood and Tom Brown Colorado has a highly decentralized revenue-raising structure compared to many other states. Although combined state

More information

State Bond Commission was created by Article VII, Section 8 of the Louisiana Constitution of 1974

State Bond Commission was created by Article VII, Section 8 of the Louisiana Constitution of 1974 NAVIGATING THE LOUISIANA STATE BOND COMMISSION Louisiana District Attorney Association Fall Conference November 21, 2013 Creation and Purpose State Bond Commission was created by Article VII, Section 8

More information

MIKE COX, ATTORNEY GENERAL

MIKE COX, ATTORNEY GENERAL STATE OF MICHIGAN MIKE COX, ATTORNEY GENERAL GENERAL PROPERTY TAX ACT: STATE REAL ESTATE TRANSFER TAX ACT: Exemption from state real estate transfer taxes REAL PROPERTY: TAXATION: An exemption from the

More information

City of Oxford, Ohio. Income Tax Division www.ritaohio.com. Frequently asked questions about Municipal Income Tax

City of Oxford, Ohio. Income Tax Division www.ritaohio.com. Frequently asked questions about Municipal Income Tax City of Oxford, Ohio Income Tax Division www.ritaohio.com Frequently asked questions about Municipal Income Tax 1 Table of Contents Current Tax Rate for Oxford, Ohio What does the City do with the income

More information

DEPARTMENT OF TREASURY STATE TREASURER SCHOOL BOND QUALIFICATION, APPROVAL, AND LOAN RULES

DEPARTMENT OF TREASURY STATE TREASURER SCHOOL BOND QUALIFICATION, APPROVAL, AND LOAN RULES DEPARTMENT OF TREASURY STATE TREASURER SCHOOL BOND QUALIFICATION, APPROVAL, AND LOAN RULES (By authority conferred on the state treasurer by section 11 of 2005 PA 92, MCL 388.1931, and section 33 of 1969

More information

LEGISLATURE OF THE STATE OF IDAHO Sixty-third Legislature Second Regular Session - 2016 IN THE HOUSE OF REPRESENTATIVES HOUSE BILL NO.

LEGISLATURE OF THE STATE OF IDAHO Sixty-third Legislature Second Regular Session - 2016 IN THE HOUSE OF REPRESENTATIVES HOUSE BILL NO. LEGISLATURE OF THE STATE OF IDAHO Sixty-third Legislature Second Regular Session - 0 IN THE HOUSE OF REPRESENTATIVES HOUSE BILL NO. BY REVENUE AND TAXATION COMMITTEE 0 0 0 AN ACT RELATING TO TAXING DISTRICT

More information

CITY OF PROSSER, WASHINGTON 601 7 TH STREET CITY COUNCIL CHAMBERS CITY COUNCIL REGULAR MEETING TUESDAY, NOVEMBER 13, 2007

CITY OF PROSSER, WASHINGTON 601 7 TH STREET CITY COUNCIL CHAMBERS CITY COUNCIL REGULAR MEETING TUESDAY, NOVEMBER 13, 2007 CITY OF PROSSER, WASHINGTON 601 7 TH STREET CITY COUNCIL CHAMBERS CITY COUNCIL REGULAR MEETING TUESDAY, NOVEMBER 13, 2007 CALL TO ORDER Mayor Pro Tem Taylor called the Regular Meeting of the Prosser City

More information

EXECUTIVE SUMMARY. VISION CONSIDERATION: All Vision areas are taken into consideration and are an important part of the City s budgeting process

EXECUTIVE SUMMARY. VISION CONSIDERATION: All Vision areas are taken into consideration and are an important part of the City s budgeting process Meeting: City Council Meeting Date: December 1, 2014 Public Hearing Agenda Item: 6a EXECUTIVE SUMMARY TITLE: 2015 Proposed Budget, Tax Levies and Truth in Taxation Public Hearing RECOMMENDED ACTION: Information

More information

Closing the Gap: Investing in Neighborhood Parks

Closing the Gap: Investing in Neighborhood Parks LONG TERM SUSTAINABILITY OF MINNEAPOLIS PARK SYSTEM Over the past 4 years one area of focus at the Park Board has been to improve operating efficiencies The Park Board has made significant strides in identifying

More information

and residents sixty years of age or older who are surviving spouses

and residents sixty years of age or older who are surviving spouses Chapter 2 Tax Levies 2013 Chapter 2: Tax Levies GENERALLY The authority for levying taxes on real property, and for limiting or exempting certain types of real property from taxation, is set forth in Section

More information

PBID LAW STREETS AND HIGHWAYS CODE SECTIONS As Amended January 1, 2009

PBID LAW STREETS AND HIGHWAYS CODE SECTIONS As Amended January 1, 2009 PBID LAW STREETS AND HIGHWAYS CODE SECTIONS 36600-36671 As Amended January 1, 2009 Declarations 36600. This part shall be known and may be cited as the "Property and Business Improvement District Law of

More information

Part Three: How Does the Government Decide how much Tax to Levy?

Part Three: How Does the Government Decide how much Tax to Levy? Part Three: How Does the Government Decide how much Tax to Levy? Purpose and Curricular Connections Property taxes pay for important services, such as schools. In this part, students learn about what the

More information

BOARD OF COMMISSIONERS COUNTY OF YORK COMMONWEALTH OF PENNSYLVANIA ORDINANCE 2016-03

BOARD OF COMMISSIONERS COUNTY OF YORK COMMONWEALTH OF PENNSYLVANIA ORDINANCE 2016-03 BOARD OF COMMISSIONERS COUNTY OF YORK COMMONWEALTH OF PENNSYLVANIA ORDINANCE 2016-03 AMENDMENT TO YORK COUNTY CODE CHAPTER 107 FOR THE PURPOSE OF INCREASING RATE OF HOTEL EXCISE TAX AND PENALTY ON HOTEL

More information

BEREA COLLEGE DEBT POLICY

BEREA COLLEGE DEBT POLICY BEREA COLLEGE DEBT POLICY A Means to Effectively Utilize and Manage Debt-Financing Resources for Capital Improvements and Renovations Background Debt financing allows the College to pay for an asset over

More information

DESCRIPTION OF THE CHAIRMAN S MARK OF A PROPOSAL TO CREATE A MILITARY SPOUSE JOB CONTINUITY CREDIT

DESCRIPTION OF THE CHAIRMAN S MARK OF A PROPOSAL TO CREATE A MILITARY SPOUSE JOB CONTINUITY CREDIT DESCRIPTION OF THE CHAIRMAN S MARK OF A PROPOSAL TO CREATE A MILITARY SPOUSE JOB CONTINUITY CREDIT Scheduled for Markup by the SENATE COMMITTEE ON FINANCE on February 11, 2015 Prepared by the Staff of

More information

ADAMS STATE UNIVERSITY FEE PLAN

ADAMS STATE UNIVERSITY FEE PLAN ADAMS STATE UNIVERSITY FEE PLAN The Board of Trustees for Adams State University, the governing board, reserves the right without notice to alter tuition and fee charges prior to the first day of any semester.

More information

Understanding Mississippi Property Taxes

Understanding Mississippi Property Taxes Understanding Mississippi Property Taxes The Mississippi Association of Supervisors with the Center for Governmental Training and Technology Mississippi Property Tax Primer Property tax revenues are a

More information

Capital Improvement Program

Capital Improvement Program 2016 Adopted Budget and Business Plan 203 City of Arlington, Texas Needs Identification The needs for new capital improvements are identified in many different ways. calls from citizens, city council priorities,

More information

Iowa Superintendent of Banking

Iowa Superintendent of Banking Introduction Pursuant to paragraph b, subsection 6, of Iowa Code Section 7C.13, the superintendent of banking is required to annually review the qualified student loan bond issuer s total assets, loan

More information

Borough of Caldwell Council Business Meeting

Borough of Caldwell Council Business Meeting CALL TO ORDER Honorable, Mayor of the Presiding Roll Call Statement of Compliance w/ Open Public Meetings Act Pledge of Allegiance to the Flag APPROVAL OF MINUTES July 17, 2012 INTRODUCTION OF ORDINANCES

More information

Holladay Budget Amendments for 2014-2015

Holladay Budget Amendments for 2014-2015 Holladay Budget Amendments for 2014-2015 General Fund Budgeted Amount Increase Amended Amount Revenues 10-31-3000 General Sales and Use Tax 3,580,900 23,000 3,603,900 10-31-5000 Transient Room Tax 55,000

More information

REGULAR COUNCIL MEETING MINUTES CITY COUNCIL CHAMBERS, CITY OF ALBERT LEA Monday, September 9, 2013, 7:00 P.M.

REGULAR COUNCIL MEETING MINUTES CITY COUNCIL CHAMBERS, CITY OF ALBERT LEA Monday, September 9, 2013, 7:00 P.M. REGULAR COUNCIL MEETING MINUTES CITY COUNCIL CHAMBERS, CITY OF ALBERT LEA Monday,, 7:00 P.M. PRESENT: Mayor Rasmussen Jr., Councilors John Schulte V, Larry Baker, George Marin, Reid Olson, Larry Anderson

More information

CAMPAIGN FINANCE DISCLOSURE REQUIREMENTS FOR LOS ANGELES COUNTY OFFICES

CAMPAIGN FINANCE DISCLOSURE REQUIREMENTS FOR LOS ANGELES COUNTY OFFICES Proposition B CAMPAIGN FINANCE DISCLOSURE REQUIREMENTS FOR LOS ANGELES COUNTY OFFICES (Assessor, District Attorney, Sheriff, and the Board of Supervisors) Campaign Finance Section and Proposition B Unit

More information