HomeMy WebLinkAbout2007 Ordinance No. 056•
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ORDINANCE NO . fi'L_
SERIES OF 2007
BY AUTHORITY
COUNCIL BILL NO. 57
INTRODUCED BY COUNCIL
MEMBER TOMASSO
AN ORDINANCE FIXING THE TAX LEVY IN MILLS UPON EACH DOLLAR OF THE
ASSESSED VALUATION OF ALL TAXABLE PROPERTY WITHIN THE CITY OF
ENGLEWOOD, COLORADO.
WHEREAS , it is the dut y of the City Council of the City of Englewood , Colorado . under the
Englewood Home Rule Chancr and Co lorad o Revised Statutes, lo make the annual propeny levy
for City purpo ses; and
WHEREAS , the City Council has dul y considered the estimated valuation of all the tax able
propcny within the City and the needs of the City and of each of said le vies and has dctemlined
that the levies as hereinafter set fonh , arc proper and wise ; and
WHEREAS. the following levies are permitted under Anicle X, Secti on 20 of the Colorado
Co nstit ution without a vote by the citizens;
NOW. THEREFORE. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
ENGLEWOOD , CO LORADO . AS FOLLOWS:
~-That there be and hereby is levied for the year of 2007, due and paya ble as required
by statute in the year 2008, a tax of S.880 mills on the doll ar for the General Fund of the City of
Englewood, Colorado, and 2.293 mills on the dollar for the Community Center Debt Service Fund
of the Cit y of Englewood, Colorado .
That the levy hereinabove set fonh shall be levied upon c •• h doll 2l of the assessed valuation of
all taxable propcny within the co rporate limit s of the City of Engl ewood , Co lorado, and the said
levy shall be cenified by law .
Introduced , read in full, and passed on first reading on the I" ~ay of October, 2007.
Published as a Bill for an Ordinance on the s• day of October, 2007 .
Read by title and passed on final reading on the I 5th day of October, 2007.
Published y title as Ordinance No.~. Series of 2007 , on the 19• day of October, 2007 .
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I, Loucrishia A. Ellis, City Clerk of the City of Englewood, Colorado, hereby certify that the •
above and foregoing is u,ue copy of the Ordinance passed on final ina and publlahed by
title as Ordinance No .~. Series of 2007 .
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COUNCIL COMMUNICATION
Date: Agenda Item: Subfect:
October 1, 2007 11 a ii Bill for an Ordinance Establi shing the 2007 M ill
Levy Collected in 2008
Initiated By: I Staff Source:
Department of Finar.ce and Administrati ve Services Frank Gryglewicz, Director
COUNCIL GOAL AND 1'!!EVIOUS COUNCIL ,,CTION
City Council and staff held a 2007 Goals/2008 Budget discussi on on May 19, 2007. Since that time
City Council and staff met nurrerous times at study sessio ns to address budgetary issues. A
preliminary budget summary and update was done on September 10, 2007 . A public hearing
regarding the proposed 2008 Budget was held on September 17, 2007 . The op erating budgets and
Multiple Year Capital Plan for all City departments and funds were reviewed at a budget retreat
held on September 22 , 2007.
RECOMMENDED ACTION
Staff recommends Council app rove this Bill for an Ordinance establishing the 2007 mill levy to be
collected in 2008 .
BACKGROUND, ANALYSIS, AND ALTERNATIVES IDENTIFIED
The City of Englewoo d assesses property tax for the gene ra l operations of the government and for
the Community Center Debt Servit~ Fund . TABOR restricts the City from raising the mill levy
without a vote of the citizens . This year 's General Fund mill levy is unchanged from 2007 (5.880
mills). Th e 2007 levy is certified to Arapahoe County by December 15, 2007 for collection in 2008.
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 2007 is $511 ,201 ,710
compared to $440,702 ,500 for 2006 . 1ne 2007 mill for General Fund operations is 5.880 mills and
2.293 mills for the Community Center Debt Service Fund . The totai mill levy is 8.173 for 2006
co lle cte d in 2007. Th e total amount budgeted for the General Fund is $2 ,820,000 (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.).
A homeowner with a $2 00,000 dollar hom e In Englewood would pay the following to the City of
Englewood :
Market Value
Assessment Ratio
Assessed Value
General Operations Mill Levy
Taxe1 Paid For General Fund Operation,
Market Value
Assessment Ratio
Assessed Value
Community Center Bond Fund Mill Levy
Taxes Paid For General Obligation Bonds
Market Value
Assessment Ratio
Assesse , · Value
Total Mill Levy
Total Taxes Paid To ~ity Of Engl,wood
LIST OF ATTACHMENTS
Proposed Bill for an Ord ina nc e
$200,000
7.96%
$15,920
5.880
$93.61
~200,000
7.96%
$15,920
2.293
$36.50
$200,000
7.96%
$15,920
8.173
$130.11
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