HomeMy WebLinkAbout2003 Ordinance No. 073•
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BY AUTHORITY
ORDINAN CE NO .];}_
SERIES OF 2003
COUN CIL BILL NO . 71
INTRODUCED BY COUN CIL
MEMBER WOLOSYN
AN ORDINAN CE 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 duty or the City Council of the City of Englewood , Colorado ,
under the Englewo od Horne Ruic Charter and Co lorado Revised Statutes, to make the
an nu al levy for Cit y purpo ses; and
WHEREAS, th e City Council has duly co nsidered the estimated va luati on of all the
taxable property within the City and the needs of the City and of each of sa id le vies
•'~,J has determined that the levies as hereinafter se t fo rth, arc proper and wise ; and
WHEREAS, the following levies arc permitted under Article X, Section 20 of th e
Colorado Constitution wit hou t a vote by the citizens;
NOW, THEREFORE, BE IT ORDAIN ·D BY THE CITY COUNCIL OF THE
CITY OF ENG LE WOOD , COLORADO , AS FOLLOWS:
~. Th at there be and hereby is levied for the year of 2003, c:ic and payable
as required by statute in the yea r 2004, a tax of 5.880 mills on the dollar for the
General Fund of th e City of Englewood, Colorado, and 2.430 mills on the dollar fo r the
General Obligation Bond Debt Service Fund of the City of Englewood, Colorado .
Thal the levy hcrcinabove set forth sha ll be levied upon each dollar of the as sessed
valuation of all taxab le property within the corpo rate limits of the City of Eng lewood ,
Colorado, and the said levy shall be certified by law.
200 3.
Introduced , read in fu ll , and pa ssed on first reading on the 6th day of Octobe r,
Published as a Bill for an Ordinance on th e IO'' da y of Oc tober, 2003 .
Read by titl e and pass ed on final reading on the 20'' day of Octobe r, 2003 .
Publi shed by titl e as Ordinance No. 7 3 , Serie s of 2003 , on the 24'' da y of
Oc tob er, 2003 .
11 b i
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COUNCIL COMMUNICATION
Da:e
Octob er b . 2003
Age nda Item
I ; a iii
Subject
Bill ro r an Ordinance blabli slung th e
2003 Mill Levv Collected in 200.J
Initiated By Staff So urce
De ctrtrnent 0 1 Fin an cP and Admiris1ram e Services Frank Gr.~le\,1cz. Dir ec tor
COUNCI L GOAL AN D PREVIOU S COUNCIL ACTION
City Counc:! oc,d SIJii lw ld , 2003 Goals/20t,.J Gudge l dis c ussi on on Apri l 28, 2003. A preliminary budget
summary anr. upd,,te ""' dc ne on August 11, 2003 . A p ubli c hea rin g rega rding the proposed 2004 Budget
was held o n Sep l el'>ue , , c ''003 . The operating budgets and Multiple Yea r Cap ita l Plan for all City
deparr r11 ~n 1s and runrls \ as re view ed at a budget ret rea t held on ';ep ternb er :!i , 2ll03 .
RECO lv'M~ 'DFl> \C."T ION
Staff recommends Cou ncil approve this bill io r an ordi nance es tablishin g th e 2003 mill levy 10 be coll ec ted in
200-1 .
BACKGROUND, ANALYSIS, AND ALTERNATIVES IDENTIFIED
Th e City of Englewo od assesses property tax fo r th e general operations of th e gove rnment and fo r the
Community Cen ter Debt Service Fu nd . TABOR rest ri cts the City from raising the mill levy without a vote of
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d·,s ci ti z_ens. This ye ar 's General Fund mill levy is unchanged from 2002 (5.880 mills). Tiie 2003 levy is
certifi ~ :, ''Jpahu e Co unty by D ece mber 15, 2003 for coll ectron m 2004.
f'NA NCIAL IMP ACT
Base d o n the assessed valuati on ior the City of Engle wood as ce rtified by the Arapahue County Assessor, the
,1e1 assessed v;1 lue of all properties in Englewood fo r 2003 is $418,913 ,060 compared to $418,168,382 for
2002. Th e 2' ·, l mill fo r General Fund operati ons is 5.8 80 mills and 2.430 mills for the Community Cen ter
Debr Serv ic f ,,nd. The to tal mill levy is 8.310 for 2003 coll ec ted in 2004. The total amoun t budgeted fo r the
Gen,,ra l Fun ~ ,s S2 ,.J25 ,000 (net of uncollectibles, abatemen ts, etc.). Th e amount budgeted fo r th e General
Obi ga ti o n Bonds D eb i Ser1 ic e Fun d is S 1,000,000 (net of un collecti bh. abatemen ts, etc.).
A homeowner with a S200,000 dollar home in Englewood would pay th e i oll O\,i ng to th e City o f Fnglewood:
Marker Va lue 5200.000
Assessment R.1110
Assessed V,1 lu e
Gener;i l Operauons tv\111 Levy
Taxes Paid For Ge nera l fund Op eratio ns
1\.\arket Valu e
Asse ssmen t R,J11 0
Assessed Va lu e
Co mmunity Cen 1er Bond Fund Mill Le vy
Tax es Pa id Fo r General Obligation Bonds
• Tota l Tax es Paid To City Of En glewoo d
LIST OF ATTACHMENTS
Prop osed br ll ror ,m ordinan ce
9.15°/.,
S 18.JOO
5.880
510;.60
S2 00 ,000
9.15%
S 18.JOO
2.4)0
S4H;
s1 s2.o;