HomeMy WebLinkAbout2006 Ordinance No. 039•
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ORDINANCE NO. &
SERIES OF 2006
BY AtrrnORITY
COUNCD.. Bll.L NO . 40
INTRODUCED BY COUNCD..
MEMBER TOMASSO
AN ORDINANCE FIXING TIIE TAX LEVY IN Mll.LS UPON EACH DOLLAR OF
TIIE ASSESSED VALUATION OF ALL TAXABLE PROPERTY WITHIN TIIE CITY
OF ENGLEWOOD, COLORADO .
WHEREAS, it is the duty of the City Council of the City of Englewood, Colorado,
ur.dcr ,~c Englewood Home Rule Chaner and Colorado Revised Statutes, to make the
annual property levy for City purposes ; and
WHEREAS , the City Council bas 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
bas 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, THEREFORE, BE IT ORDAINED BY TIIE CITY COUNCD.. OF TIIE CITY
OF ENGLEWOOD, COLORADO, AS FOLLOWS :
~-That there be and hereby is levied for the year of 2006, due and payable as
required by statute in the year 2007, a tax of 5.880 mills on the dollar for the General Fund
of the City ofEnglewood, Colorado; and 2.52 mills on the dollar for the General
Obligation Bond Debt Servi ce Fund of the City ofEnglewood, Colorado .
That the levy hcreinabove 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 16th day of October, 2006.
Published as a Bill for an Ordintncc on the 20th day of October, 2006 .
Read by title and passed on final reading on the 6th day of November, 2006 .
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I, Loucrishia A. Ellis , City Clerk of the City of Englewood, Colorado , hereby cenify
that the above and foregoing is a lnl'?'JIIPY of the Ordinance passed on final reading and .~" ... .," ... -.. .,,"'.°''kag,
Loucrishia A. Ellis
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• COUNCIL COMMUNICATION
Date Agenda Hem Subject
October 16, 2006 11 a iv Bill For An Ordinance
Establishing The 2006 Mill Levy ---Collected in 2007
Initiated By Staff Source
Departmen t Of Finance and Administrative Frank Gryglewicz, Director
Services
COUNCIL G .4L AND PREVIOUS COUNCIL ACTION
City Council nnd staff held a 2006 Goals/2007 Budget discussion on May 13, 2006. A preliminary
budget summary and update was done on September 5, 2006 . A public hearing regarding the
prop ai,d J006 Budget was held on September 18, 2006. The operating budgets and Multiple
Year Capital Plan for all City departments and funds was reviewed at a budget retreat held on
September 23 , 2006 .
RECOMMENDED ACTION
• Staff recommends Council approve this bill for an ordinanLe establishing the 2005 mill levy to be
collected in 2006 .
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BACKGROUND, ANAL\"SIS, AND ALTERNATIVES IDENTIFIED
The City of Englewood assesses property tax for the general operations of the government and for
the Community Center Debt Service 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 2005 (5.880
mills), The 2006 levy is certified to Arapahoe County by December 15, 2006 for coll ection in
2007 .
FINANCIAL IMPACT
Based on the assessed valuation for the City of Englewood as certified by the Arapahoe County
Assessor, the net assessed value of all properties in Englewood for 2006 is $440,70~1500
compared to $439,499,950 for 2005 . The 2006 mill for General Fund operations is 5.880 mills and
2.520 mills for the Community Center Debt Service Fund. The total mill levy is 8.400 for 2006
collected in 2007. The total amou~t budgeted for the General Fund is $2 ,565 ,Cl00 (net of
uncollectibles, abatements, e:c.). The amount budgeted for the General Oblig; in Bonds Debt
Service Fund Is $1,100,000 (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 Ra tio
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 ,92 0
2.520
$40.12
$200,000
7.96%
$15 ,920
8.400
$133.73
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