HomeMy WebLinkAbout2014 Ordinance No. 051ORDINANCE NO. '5° /
SERIES OF 2014
BY AUTHORITY
COUNCIL BJLL NO. 51
INTRODUCED BY COUNCIL
MEMBER OLSON
AN ORDINANCE FIXING THE TAX LEVY IN MJLLS UPON EACH DOLLAR OF THE
ASSESSED VALUATION OF ALL TAXABLE PROPERTY WITHIN 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 detennined
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, THEREFORE, BE IT ORDAINED BY THE CITY COUNCJL OF THE CITY OF
ENGLEWOOD, COLORADO, AS FOLLOWS:
Section I . That there be and hereby is levied for the year of 2014, due and payable as required
by statute in the year 2015, a tax of 5.880 mills on the dollar for the General Fund of the City of
Englewood, Colorado, and 2.244 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 6th day of October, 2014.
Published by Title as a Bill for an Ordinance in the City's official newspaper on the 10th day of
October, 2014.
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Published as a Bill for an Ordinance on the City's official website beginning on the 8th day of
October, 2014 for thirty (30) days.
Read by title and passed on final reading on the 20th day of October, 2014.
Published in the City's official newspaper as Ordinance No . lq/__, Series of 2014, on the 24th
day of October, 2014.
Published by title on the City's official website beginning on the 22nd d ay of
October, 2014 for thirty (30) days. £1~-;,
~P.Penn,Mayor
I, Loucrishia A. Ellis, City Clerk of the City of Englewood, Colorado, hereby certify that the
above and foregoing is a true copy of the Ordinance passed on final reading and published by
title as O rdinance No. ':if Series of 2014.
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COUNCIL COMMUNICATION
Date Agenda Item Subject
October 6, 2014 11 a iii Bill For An Ordinance Establishing
The 2014 Mill Levy Collected in
2015
Initiated By Staff Source
Department Of Finance and Administrative Services Frank Gryglewicz, Director
COUNCIL GOAL AND PREVIOUS COUNCIL ACTION
City Council and staff began the 2015 budget process at the April 28, 2014 Study Session with an overview
of the Five Year Forecast, Long Term Asset Reserve (LTAR) and preliminary budget discussion.
The Proposed Budget was discussed with Council at the August 4, 2014 Study Session. The Proposed
Budget was reviewed again with Council and staff at the August 18, 2014 Study Session.
On September 2, 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 A public hearing to gather citizen input regarding the 2015 Proposed Budget was held on September 15,
-2014.
A "budget workshop" was held at the September 22, 2014 Study Session to discuss input from citizens at
the public hearing.
RECOMMENDED ACTION
Staff recommends Council approve this bill for an ordinance establishing the 2014 City of Englewood Mill
Levy to be collected in 2015.
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 2014 levy is certified to Arapahoe County by December t 5, 2014
for collection in 2015.
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 2014 is $497,290,217 compared to
$498,726,880 for 2013. The 2014 mill for General Fund operations is 5.880 mills and 2.244 mills for the
General Obligation Bonds Debt Service Fund. The total mill levy is 8.124 for 2014 collected in 2015. The
total amount budgeted for the General Fund is $2,900,000 (net of uncollectibles, abatements, etc.). The
amount budgeted for the General Obligation Bonds Debt Service Fund is $1,107,000 (net of uncollectibles,
abatements, etc.).
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 Mill 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
5.880
$93.61
$200,000
7.96%
$15,920
2.244
$35.72
$200,000
7.96%
$15,920
8.124
$129.33
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