HomeMy WebLinkAbout2015 Ordinance No. 048•
ORDINANCE NO.$
SERIES OF 2015
BY AUIHORITY
COUNCIL BILL NO. 49
INTRODUCED BY COUNCIL
MEMBER GILLIT
AN ORDINANCE FIXING THE TAX LEVY IN MILLS UPON EACH DOLLAR OF THE
ASSESSED VALUATION OF ALL TAXABLE PROPERTY wmnN THE CITY OF
ENGLEWOOD, COLORADO.
WHEREAS, it is the duty of the City Council of the City of Englewood, Colorado, under the
Englewood Home Rule Charter and Colorado Revised Statutes, to make the annual property levy
for City purposes; and
WHEREAS, the City Council has duly considered the estimated valuation of all the taxable
property within the City and the needs of the City and of each of said levies and has determined
that the levies as hereinafter set forth, are proper and wise; and
WHEREAS, the following levies are permitted under Article X, Section 20 of the Colorado
Constitution without a vote by the citizens;
NOW, TIIEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
ENGLEWOOD, COLORADO, AS FOLLOWS:
Section 1. That there be and hereby is levied for the year of 2015, due and payable as required
by statute in the year 2016, a tax of 5.880 mills on the dollar for the General Fund of the City of
Englewood, Colorado, and 1.924 mills on the dollar for the General Obligation Bond Debt Service
Fund of the City of Englewood, Colorado.
That the levy hereinabove set forth shall be levied upon each dollar of the assessed valuation of
all taxable property within the corporate limits of the City of Englewood, Colorado, and the said
levy shall be certified by law.
Introduced, read in full, and passed on first reading on the 5th day of October, 2015.
Published by Title as a Bill for an Ordinance in the City's official newspaper on the 8th day of
October, 2015.
Published as a Bill for an Ordinance on the City's official website beginning on the 7th day of
October, 2015 for thirty {30) days .
Read by title and passed on final reading on the 19th day of October, 2015.
Published by title in the City's official newspaper as Ordinance No. ~3.' Series of 2015, on
the 22nd day of October, 2015.
l
Published by title on the City's official website beginning on the 21st day of
October, 2015 for thirty (30) days. ~\~ ~--
:;:;JY P. Penn, Mayor
I, Loucrishia A. Ellis, City Clerk of the City of Englewood, Colorado, hereby certify that the
above and foregoing is J-~ copy of the Ordinance passed on final reading and published by
title as Onfurmce No. :t:J7Series of 2015. ~
Loucrishia A. Ellis
.2
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COUNCIL COMMUNICATION
6 Date Agenda Item Subject
October 19, 2015 11bv Bill For An Ordinance
Establishing The 2015 Mill Levy
Collected in 2016-2"d Readin~
Initiated By Staff Source
Department Of Finance and Administrative Services Eric Keck, City Manager
PREVIOUS COUNCIL ACTION
City Council and staff began the 2015 budget process at the June 29, 2015, Study Session with an
overview of the Five Year Forecast, Long Term Asset Reserve (L TAR) and preliminary budget
discussion including the 2016 budget guidelines.
The Proposed Budget was discussed with Council at the August 10 Study Session. The Proposed
Budget was reviewed again with Council and staff at the August 24 Study Session .
On September 8, 2014, the Budget Advisory Committee provided Council with an update of their
activities and provided an Annual Report regarding their findings and recommendations as well as a
Citizens' Budget.
A public hearing to gather citizen input regarding the 2015 Proposed Budget was held on September
.2015.
A "budget workshop" was held at the September 28, 2015, Study Session to discuss input from
citizens at the public hearing and the Budget Advisory Committee's Annual Report.
RECOMMENDED ACTION
Staff recommends Council approve, on second reading, this bill for an ordinance establishing the
2015 mill levy to be collected in 2016.
BACKGROUND, ANALYSIS, AND ALTERNATIVES IDENTIFIED
The City of Englewood assesses property tax for the general government operations and for the
General Obligation Bonds Debt Service Fund. TABOR restricts the City from raising the mill levy
without a vote of the citizens. The City's general mill levy has been unchanged since 1992. This
year's General Fund mill levy remains unchanged at 5.880 mills. The 2015 levy is certified to
Arapahoe County by December 15, 2015 for collection in 2016 .
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FINANCIAL IMPACT
Based on the assessed valuation for the City of Englewood as certified by the Arapahoe County •
Assessor, the estimated net assessed value of all properties in Englewood for 2015 is $595,636,070
compared to $497,873,170 for 2014. The 2015 mill for General Fund operations is 5.880 mills and
1.924 mills for the General Obligation Bonds Debt Service Fund. The total mill levy is 7.804 for 2015
collected in 2016. The total amount budgeted for the General Fund is $3,349,000 (net of
uncollectibles, abatements, etc.). The amount budgeted for the General Obligation Bonds Debt
Service Fund is $1,100,000 (net of uncollectibles, abatements, etc.).
For example, a homeowner with a $200,000 dollar home in Englewood would pay the following to the
City of Englewood:
Market Value
Assessment Ratio
Assessed Value
General Operations Mill Levy
Taxes Paid For General Fund Operations
Market Value
Assessment Ratio
Assessed Value
Community Center Bond Fund /v\ill Levy
Taxes Paid For General Obligation Bonds
Market Value
--Assessment Ratio
Assessed Value
Total Mill Levy
Total Taxes Paid To City Of Englewood
LIST OF ATTACHMENTS
Proposed bill for an ordinance
$200,000
7.96%
$15,920
5.88
$93.61
$200,000
7.96%
$15,920
1.924
$30.63
$200,000
7.96%
$15,920
7.804
$124.24
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COUNCIL COMMUNICATION
Date Agenda Item Subject
October 5, 2015 11avi Bill For An Ordinance
Establishing The 2015 Mill Levy
Collected in 2016
Initiated By Staff Source
Department Of Finance and Administrative Services Eric Keck, City ManaQer
PREVIOUS COUNCIL ACTION
City Council and staff began the 2015 budget process at the June 29, 2015, Study Session with an
overview of the Five Year Forecast, Long Term Asset Reserve (LTAR) and preliminary budget
discussion including the 2016 budget guidelines.
The Proposed Budget was discussed with Council at the August 10 Study Session. The Proposed
Budget was reviewed again with Council and staff at the August 24 Study Session.
On September 8, 2014, the Budget Advisory Committee provided Council with an update of their
activities and provided an Annual Report regarding their findings and recommendations as well as a
Citizens' Budget.
A public hearing to gather citizen input regarding the 2015 Proposed Budget was held on September
1, 2015.
A "budget workshop" was held at the September 28, 2015, Study Session to discuss input from
citizens at the public hearing and the Budget Advisory Committee's Annual Report.
RECOMMENDED ACTION
Staff recommends Council approve this bill for an ordinance establishing the 2015 mill levy to be
collected in 2016.
BACKGROUND, ANALYSIS, AND ALTERNATIVES IDENTIFIED
The City of Englewood assesses property tax for the general government operations and for the
General Obligation Bonds Debt Service Fund. TABOR restricts the City from raising the mill levy
without a vote of the citizens. The City's general mill levy has been unchanged since 1992. This
year's General Fund mill levy remains unchanged at 5 .880 mills. The 2015 levy is certified to
Arapahoe County by December 15, 2015 for collection in 2016.
FINANCIAL IMPACT
Based on the assessed valuation for the City of Englewood as certified by the Arapahoe County
Assessor, the estimated net assessed value of all properties in Englewood for 2015 is $595,636,070 4t
compared to $497,873,170 for 2014. The 2015 mill for General Fund operations is 5.880 mills and
1.924 mills for the General Obligation Bonds Debt Service Fund. The total mill levy is 7.804 for 2015
collected in 2016. The total amount budgeted for the General Fund is $3,349,000 (net of
uncollectibles, abatements, etc.). The amount budgeted for the General Obligation Bonds Debt
Service Fund is $1,100,000 (net of uncollectibles, abatements, etc.).
For example, a homeowner with a $200,000 dollar home in Englewood would pay the following to the
City of Englewood:
tv1a rke t Value
Assessment Ratio
Assessed Value
General Operations Mill Levy
Taxes Paid For General Fund Operations
tv1a rket Value
Assessment Ratio
Assessed Value
Community Center Bond Fund Mill Levy
Taxes Paid For General Obligation Bonds
tv1a rket Value
Assessment Ratio
Assessed Value
Total Mill Levy
Total Taxes Paid To City Of Englewood
LIST OF ATTACHMENTS
Proposed bill for an ordinance
$200,000
7.96%
$15,920
5.88
$93.61
$200,000
7.96%
$15,920
1.924
$30.63
$200,000
7.96%
$15,920
7.804
$124.24