HomeMy WebLinkAbout2008 Ordinance No. 065•
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ORD INANCE NO. (£
SERIES OF 2008 --
BY AUT HORIT Y
COUNC IL BILL NO . 57
INTRODUCED BY COUNC IL
MEMBER McCASLIN
AN ORDI NANCE FIXING THE TAX LEVY IN MILLS UPON EACH DOLLA R OF THE
ASSESSED VALUATION OF ALL TAXAB LE PROPERTY WITHIN THE CITY OF
E GLEWOO D, C'OLORADO .
WHERE AS, it is the duty of th e Cit y Co unci l of the City of Englewood, Co lorado, u•,orr the
Englewood Ho me Rule Chaner and Co lorado Revised Statute s, to make th e an nual prop my levy
for Ci ty purposes; and
WHEREAS, the Ci ty Co uncil has ~~!y considered the es timated val uati on of all th e taxable
propeny within the City and the need s of the City and of each of sa id levies and has determin ed
th at the levies as hereinafter set fon h, arc proper and wise ; and
WH EREA S, th e fo ll owi ng levies are permitted under Anicle X, Section 20 of the Co lorado
Constituti on wi thout a vo te by th e citizens;
NOW, THEREFORE , BE IT ORDAINED BY TH E CITY COUNCIL OF TiiE CJTY OF
ENG LEWOO D, COLO RADO , AS FOLLOWS:
Secti on I. That there be and hereby is le vied fo r the year of 2008 , due a,u pa) le as requi red
by statute in the yea r 2009, a tax of 5.880 mill s on the dollar for the Genera l Fund 01ti ,e City of
Englewood, Co lo rado. and 1.947 mills on the dollar for th e Ge neral Obligati on Bond De bt Service
Fund of the Cit y of Englewood, Co lorado .
TI1a1 th e le vy he rei nabove set fo nh shall be levied upon each dollar oftl1e assess ed va lu ati on of
all taxab le propen y within the corpora te limit s of th e City of Englewood, Co lorado, and th e sai d
levy shall be cen ified by law.
In trod uced, read in full, and pa ss ed on fi rs t reading on the 20th day of October, 2008 .
Publi shed as a Bill fo r an Ordinance in the Ci ty's official newspa per on th e 24'' day of Oc tober,
2008.
Publi shed as a Bil! for an Ordinance on the Cit y's officia l website beginning on the 2and day of
October, 1008 for th in y (30) da ys .
Read by tit le and passed on fin al reading on th e 3rd da y of November, 2008 .
11 bi
Published by title in the City's official newspaper as Ordinance No . ~Series of 2008 , on
the 7"' day of November, 2008 .
I, Loucrishia A. Ellis, City Clerk of the City of Englewot•d, co· orado , hereby certify that the
above and foregoing is)'~ copy of the Ordinance passed on ti..a l readi ng and publi shed by
title as Ordinance No.(6., Series of 2008. / ~~////mu Al,;(g
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• COUNCIL COMMUNICATION
Dat e: Agenda llem : Subj ect:
October 20, 2008 11 a i Bill For An Ordinance Es tabl ishing the 2008 Mill
Levy Coll ec ted in 2009
Initiated By:
D epartm ent of Fin ance and Adm inistrative Serv ices
I Slail Source:
Frank Gryglewicz, Director
COUNCIL GOAL AND PREVIOUS COUNCIL ACTION
Ci ty Cou nci l held a Goals Workshop on Janu ary 28, 2008 and discusse d goa ls al th e Jun e 2, 2008
and Jul y 28, 2008 study sessi ons. On Augu st 18, City staff p rese nt ed a 2009 Budget update l o
Council, and proposed Capital Improve ments Proj ects for 2009 were presented on A u gus t 25,
2008. City Council receive d a 2009 Pr oposed Budget on Sep temb er 5, 2008. A public hearing
rega rdin g the pro~os ed 2009 Bud ge t was held o n Sept ember 1 5, 2008. Th e ope ratin g budgets and
Multiple Yea r Capital Plan fo r all City departm ents and funds was reviewed al a bud ge ! retrea t held
on Sep tember 20, 2008. Counci l final ized budget disc us sio ns al th e stud y sess ion held o n
September 29, 2008.
• RECOMMENDED ACTION
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Staff recom mends Coun ci l approve th is bi ll for an ordin ance es tab li shin g th e 2008 mill levy l ube
coll ec ted in 2009.
BACKGROUND , ANALYSIS, AND ALTERNATIVES IDENTIFIED
Th e City of Engl ewood assesses p ro p erly l ax for th e ge neral opera ti ons of th e governmen t and fo r
the General Obli ga ti on Bond D ebi Service Fund . TABOR res tri cts the City from raisi ng th e mill levy
w ith ou t a vo te of ih e c itizens. Thi s yea r's General Fund mill levy is un change d from 2007 (5.880
mills ). Th e 2008 levy is certifi ed l o A rapa hoe Coun ty by D ecembe r 15, 2008 fo r coll ecti on in 2009.
FINANCIAL IMPACT
Base d o n th e assesse d va lu ati on for th e City of Englewood as ce rt ified by th e Arapa hoe Coun ty
Assesso r, th e es tim ated ne t assessed value of all propert ies in Eng lewood fo r 2008 is $510,609,6 t 0
co mpared 10 $5 11,624,330 fo r 2007. Th e 2008 mill fo r Genera l Fun d ope rations is 5.880 mills and
t .94 7 mill s fo r General Obli gat ion Bo nd D eb t Service Fund. The total mill levy is 7.827 for 2008
coll ected in 2009. The to tal amount budgeted for the Genera l Fund is $2 ,952,000 (n et of
un coll ec tibles, abatem en ts, etc.). The amoun t budge ted for th e General Obli ga ti on Bonds D ebi
Service Fu nd is $990,00 (net of uncoll ec ti bles , aba temen ts, etc.) .
A homeowner with a $200,000 home in Englewood WOll ld pa y the fo ll owing to the City o f
Englewood:
Market Va lue
Assessment Rati o
Assess ed Va lue
General O pe rati o ns M ill Levy
Taxes Pai d For General fund Operations
Market Value
Assessm ent Ratio
Assessed Va lu e
General Obli ga ti o n Bond Debi Service Fund Mill
Levy
Taxes Pai d For General Obligation Bonds
Marke t Va lue
Assessment Rati o
Asses se d Va lu e
Total M ill Levy
"iotal Taxes Paid to City of Englewood
LlSf OF ATTACHMENTS
Proposed Bill fo r an Ordinance
$1 00,000
7.96%
$15,920
5.880
$93.61
$200,000
7.96%
$1 5,92 0
I ~4 7
$31.00
$200,000
7.96%
$15,920
7.827
$124.61
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