HomeMy WebLinkAbout2005 Ordinance No. 049•
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ORD INANC E NO. :f}_
SERIES OF 2005
BY AUTHOR ITY
COUNC IL BILL NO . 43
INTR OD CE D BY COUN C IL
MEMBER WOODWARD
AN ORD INANCE FIXING HIE TAX LEVY IN MILL S UPON EACH DOLLAR OF
THE ASSESSED VALUATION OF ALL TAXABLE PROPERTY WITI-I IN THE
CIT Y OF ENGLEWOOD, COLORA DO .
WHEREAS , it is the duty of the City Counci l of the City of En glew ood, Co lorado,
under the Eng lewood Home Ruic Cha rt er and Colorado Revi sed Statutes, to make the
annu al propert y levy fo r City purposes ; and
WHEREAS, the City Cou ncil has duly con sidered th e estima ted valuat ion of all the
taxable property within the Cit y and th e need s of the City and of each of sa id levies
and ha s determined th at the levies as hereinaft er se t forth , are proper and wise; and
WHEREAS, the follow in g le vies arc permitt ed und er Article X, Sect ion 20 of the
Colorado Co nstituti on without a vote by the ci tizens;
NOW, THEREFORE , BE IT ORDAINED SY THE CITY COUNCIL OF THE
CITY OF ENGLEWOOD, COLORADO, AS FOLLOWS :
~. That there be and hereby is levied for the year of 2005 , due and payable
as required by statut e in the year 2006 , a tax of 5.880 mills on the dollar for th e
Genera l Fund of the City of Englew oo d, Colorado, and 2.220 mills on the doll.r for the
General Obligati on Bond Debt Service Fund of th e City of Englewood, Co lorado.
That th e levy hcrcinabovc set forth sha ll be levied upon each dollar of the assessed
va lu ati on of all taxab le property wi thin the corpora te limits of th e Ci ty of Englewood,
Co lorado , ,nd the said levy sha ll be certified by law .
Introduced, read in full , and passed on fir st reading on the 3rd day of Octobe r, 200 5.
Publi shed as a Bill for an Ordi nance on th e 7t h da y of Oc tobe r, 2005.
Read by title and pa sse d on final reading on the I 7'h day of October, 2005 .
Publi shed by titl e as Ordinan ce No . 'ij, Series of 2005 , on the 2 1st day of
Oc tober, 2005 .
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I, Lou cris hia A. Elli s, C it y Clerk ~f th e Ci ty of Eng lewood, Colorado, hereby
certify that the above and for egoing .s a tru e covy,,of th e Ordinanc passed on fin al
reading and publi shed by tit le as Ordinance No. "I:/-' Series of 2 .
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COUNCIL COMMUNICATION
Date Agenda Item Subj ect
O cto be r 3, 2005 1 1 a V Bill for an Ordinance Es tabl ishing Ih e
2005 Mill Levy Co ll ec l r,d in 2006
-· lnit ;a ted Ry I Staff So urce
Dep artment 0 1 Fina nce and Adminislra l ive Servi ces Frank Gryglewicz, Director
COUNCIL GOAL ANO PREVIOUS COUNCIL ACTION
City Council and staff held a 2005 Goals/2006 Bud gel discussion on May 7, 2005. A preliminary budgel
summary Jnd update was done o n A ugus t 15, 2005. A p ublic hea rin g rega rdin g lhe proposed 2006
Budget was he ld o n September 19, 2005. Th e opera ti ng budgels and Multip le Year Capi tal Plan for all Ci ty
departmen ts and funds wa s rev iewe d al a budgel rel real held o n Se plember 24, 2005.
RECOMMENDED ACTION
Sl aff recomm e,,ds Co unci l app rove thi s bid fo r an o rdinan ce es tab li shing th e 2005 mill levy to be co llected
in 2006.
BACKGROUND, ANALYSIS, ANO ALTERNATIVES IDENTIFIED
The City of Englewood ass esse s property tax fo r th e genera l operati ons of the govern men t and for th e
Co mmunity Center D ebt Service Fu nd. TABOR res tri cts th e City fr om raising th e mi ll levy w ithout a vo te of
lh e citi zens . This ye ar's Gen eral Fund mill levy is unchanged fr om 2004 (5.880 mill s). The 2005 levy is
required to be ce rti fied to Arapah oe County by Dece mber 1 5, 2005 fo r co ll ec ti on in 2006.
FI NANCIAL IMPACT
Base d on th e assessed va lu ati on for th e City of Eng lewood as ce rtifi ed by th e Arapahoe County Assesso r,
lh e net assesse d valu e of all properties in Englewood for 2005 is $438,755,100 compa red to $414,499,9 50
for 2004 . Th e 2005 mill for Genera l Fund operati ons is 5.880 mill s and 2.220 mills for th e Community
Center Deb i Serv ice Fund. The to tal mi ll levy is 8.100 fo r 2005 coll ec ted in 2006. Th e total amount
budgeted for l he Gene ral Fund is $2 ,534,000 (net of un co ll ecti bl es, aba tement s, etc.). Th e amo unt
budgeted for th e General Obliga tion Bo nds Debt Serv ice Fund is $950,000 (n el o f un co ll ec tibles,
aba tement s, el c.) .
A home owner \\Ith a S 200.000 doll ar ho me in Englewood would p ay th e foll owing to th e Ci ty of
Engle,vood :
Market Va lue
Assessme nt Ra tio
Assessed Value
General Opera tions Mill Levy
Taxe s Paid for General fund Oper ations
Market Va lue
Assessme nt Ra ti o
Assessed Va lu e
Com mu nity Ce nter Bond fund M ill Levy
Taxes Paid for General Obligation Bonds
Ma rket Value
As sess ment Ratio
Asses sed Va lue
To tal Mill Levy
To tal Taxes !'aid To City Of Englewood
UST Of ATTACHMENTS
Proposed bill ror an ordina nce
s 200.ooo
7.96%
$15.920
5.880
$93.6 1
s200,0 00
,.96%
$15,920
2.22 0
$35.34
5200.000
7.96%
$15,920
8.1~0
$12 _y j
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