HomeMy WebLinkAbout2004 Ordinance No. 055•
ORD INANCE :--10 q5
SE RI ES OF "uu~
IJY ,I UTHORITY
CO NC I L DILL NO . 5"
INTRO D UCED 13 Y COL'NC IL
MEM13ER WOLO SY:--1
AN ORD INANCE FI X I, G TH E TAX LEVY IN ~!I L LS UPON EAC H DOL LAR OF
TH E ASSES ED VALUATIO OF ALL T AXA l3LE PROPERTY W ITHI N TH E
C ITY OF ENGLEWOO D, CO LORADO.
WHEREAS , it i s the dut y of the Ci ty Co un c il of 1he City of Englewood. Co l or,do,
under lh t.! Englewoo d Home Rui c Charie r and Co lorado Rev ised Sin tut cs, to makt: the
:1 nnu al property le vy fo r City purp oses; and
WH EREAS. th e Ci ty Co un cil ha s dul y conside red th e estimated valua ti on of a!I the
ta xable propcny wi thin th e Ci ty and the need s of th e Ci 1y and of eac h of sai d le vies
and ha s de term ined th at th e k vie s as hereinafter set forth. arc , 1pe r and wi se: anJ
WHEREAS. the foll owi ng levies arc pe rmiued u .. Jcr Ani clc X. Sec ti on 20 of th e
Colo rad o Co nstitut ion wi th oul a vo te by the ci ti ze ns;
NOW. THER EFOR E. B E IT ORDAINED BY THE CITY COU , CIL OF TH E
C ITY OF ENGLEWOOD. COLORADO. AS FOLLOWS :
Section I. That there be :rnd here by is kv1ed fo r 1hc.: ;car of 200 4 , due and pa yab le
as re quired by s1a1 u1c in th e yea r 2005. a tax uf 5.8 80 mill s on the do ll ar fo r the
Gene ral Fun d of the Ci tv of En ulew ood. Co lorado. :md ~.44 0 11111!s on th e dolla r for rhc
Gl.'ncra l Obligati on Bon~I Debt Sc rvic l.' Fund or the Ci ty of Engl ew ood. Co lorado .
That the kvy hcrc111above set fo rt h shall bi..: lcv 11.!d up on each Jol lar of the ass l.!ssc Li
valuatJOn oi' all taxab lc pro perly withm th e corporat e: lim its o f 1hi.: Ci ty of Eng lewood .
Co lorad o. and th i.: s~11d \\.!\')' shall he cc rtiti cd by law .
ln1 roduc cd. read in full. anJ p:ts scd 0 11 1irs1 rl.!adi ng on th~ ..Jth day uf Oc1obl.!r. :Otl4 .
Pu hlis hi..:Li as a 13,. "or ;m Ordin:mci.: on thc :-:1h da~ uf Oc:whcr. ~004
·!-
11 bu
I, Loucri shia A. Elli s, Ci ty Clerk of th e Cit y of Englewood, Co lorarl u. hc,oby
ce rtify th at the abo ve and foregoing is a true l:OP_X-ql' the Ordin ance pas sed on final
reading and publi shed by title as Ordina nce No . ~ Seri ·s of 200•.
-2-
•
•
•
COUNCIL COMMUNICATION
Date : Age nd a Item: Subject:
October 4, 2004 11 a ii Bi ll Fo r An Ordinance F.s tablish ing
The 2004 Mill Levy Coll ec ted in 2005
Initiat ed By: Staff Source:
Departm ent Of Fi nance and Ad ministrati ve Servic es Fran k Gryglewicz, Director
COUNCIL GOAL AND PREVIOU S COUNCIL ACTION
City Council and staff held a 2004 Goals/2005 Bud ge t discussi on o n April 10, 2004. A p relim inary
budge t summary and update was do ne o n August 23, 2004. A publi c heari ng rega rd ing th e
propose d 2005 Budget wa s hel d on Sep tember 20, 2004. The operating 1:,udge ts and Multi ple
Yea r Capital Pl an for all City depa rtm ents and fund s was revie wed al a bud ge t retrea t held on
September 25, 2004.
RECOMMENDED ACTION
Staff recommends Council approve thi s bi ll fo r an ordin ance estab li shing th e 2004 mill levy l o be
coll ected in 2005 .
BACKGROUND, ANALYSIS, AND ALTERNATIVES IDENTIFIED
Th e City of Englewood assesses properly tax for th e gen era l ope rati ons of th e gc;v ernm ent and fo r
th e Community Center Dehl Servi ce Fun d. TABOR restri cts the Ci ty from ra isi ng th e mill le•,y
w it hout a vol e of th e ci ti ze ns . This )'ea r's Ge nera l Fund mill l evy is un changed fr om 200 3 (5,880
mill s). Th e 2004 levy is cer ti fi ed l o Arapah oe Co u11 ly by Dece mber 15, 2004 fo r co ll ection in 2005 .
FIN ANC IAL IMPACT
Based on th e assesse d va lu ati o n fo r the City of Engl ewood as certifi ed by th e Arapahoe County
Assesso r, th e ne t assesse d va lu e of all properti es in Engl ewr.vd fo r 2004 is $4 15,994,470 compared
to $4 18,996,190 for 2003. The 2004 mill for General Fund :;~e rati ons is 5.880 mills and 2.440
mill s for th e Community Cen ter Debt Serv ice Fun d. Th e total mill levy is 8.320 fo r 2004 coll ected
in 2005 . Th e .otal amount budgeted for the General fund is $2 ,4 10,000 (net o i un coll ec ti bles,
aba tements , etc.). The amount budg eted for th e General Obliga tion Bo nds Debt Serv ice Fund is
$1,000,000 (ne t of uncoll ec tibles, abat ements, etc.).
A hom eowner wi th a $200,000 do ll ar home in Englewood wo uld pa y the following to the City of
Englewo od:
Marke t Va lu e
As sessme nt Rat io
Assess,?d Va lue
Ge nera l Opera ti on s Mi ll Levy
Taxes l'aid For General fund Operation s
Marke l Va lu e
Assessmen t Ra tio
Assessed Val ue
Comm unity Center Bond Fund Mill Levy
Taxes Pa id For General Obligation Bond s
Ma rke t Va lu e
Ass essmen t Ra tio
Ass essed Valu e
To tal Mi ll Levy
Total Taxes Paid To City Of Englewood
LIST OF ATTACHMENTS
Pro pose d bill fo r an ord inance
$200,000
7.96%
$15,920
>.8B0
$93.61
$200,0 00
7.96%
$15,920
2.440
$3 8.84
$200,000
7.96%
$15 ,920
8.320
$132 .45
.. . .. ~.
•
•