HomeMy WebLinkAbout1997 Ordinance No. 084ORDINANCE NO. ?f
SERIES OF 1997
BY AUTHORITY
COUNCIL BILL NO. 92
INTRODUCED BY COUNCIL
MEMBERVORMITTAG
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, AND ESTABLISHING A MILL LEVY FOR
THE ENGLEWOOD DOWNTOWN DEVELOPMENT AUTHORITY.
WHEREAS, it is the duty of the City Council of the City of Englewood, Colorado,
under the Englewood Home Rule Charter and Colorado Revised Statutes, to make the
annual levy for City purposes; and
WHEREAS, the City Council has 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 has 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 THE CITY COUNCIL OF THE CITY
OF ENGLEWOOD, COLORADO, AS FOLLOWS:
Section 1. That there be and hereby is levied for the year of 1997, due and payable as
required by statutes in the year 1998, a tax of 5 .880 mills on the dollar for the General
Fund of the City of Englewood, Colorado , and 1.517 mills on the dollar for the
Community Center Bond Fund Debt Service Fund of the City of Englewood, Colorado .
That the levy herein above 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.
Section 2. That under the authority of the Colorado Revised Statutes and the
Englewood Home Rule Charter, there is hereby levied for the year 1997, due and
payable as required by law in 1998 a tax of 4.397 mills on the dollar for the use and
benefit of the Englewood Downtown Development Authority.
The levy herein above set forth shall be levied upon each dollar of assessed
valuation of all taxable property within the Englewood, Colorado, Downtown
Development District, and the said levy shall be certified as required by law.
Introduced, read in full, and passed on first reading on the 6th day of October, 1997 .
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Published as a Bill for an Ordinance on the 9th day of October, 1997.
Read by title and passed on final reading on the 20th day of October, 1997.
Published by title as Ordinance No. IJJ_, Series of 1997, on the 23rd day of October,
1997.
Til<Hna~ayt;;;;
I, Loucrishia A. Ellis, City Clerk of the City of Englewood, Colorado, hereby
certify that the above and foregoing is a true copy ~he Ordinance passed on final
reading and published by title as Ordinance No. ~' Serie of 1 7 .
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COUNCIL COMMUNICATION
Date Agenda Item Subject Bill for an Ordinance
establishing the 1997 Mill Levy
October 6, 1997 10 a iii collected in 1 998
Initiated By Staff Source
Department of Financial Services Frank Gryglewicz, Director
COUNCIL GOAL AND PREVIOUS COUNCIL ACTION
The City Council reviewed the City's Five Year Capital Plan (FYCP) at a study sessions held on July
22, 1997. The operating budgets for all City departments and funds was reviewed at a budget retreat
held on September 27, 1997. A public hearing regarding the Proposed 1998 Budget was held on
September 15, 1997.
RECOMMENDED ACTION
Staff recommends Council approve this bill for an ordinance establishing the 1997 mill levy to be
collected in 1998.
BACKGROUND, ANALYSIS, AND ALTERNATIVES IDENTIFIED
The City of Englewood assesses property tax for the general operations of t he government and for the
Community Center Debt Service Fund. TABOR restricts the City from raising the mill or the amount
collected (over the Denver-Boulder CPI plus local growth factor) without a vote of the citizens. This
year's General Fund mill levy is unchanged from 1996 (5.880 mills). The 1996 levy is certified to
Arapahoe County for collection in 1998.
The Englewood Downtown Development Authority's mill levy is set at 4.397 mills as recommended and
approved by the Authority. The assessed value subject to the Englewood Downtown Development
Authority mill levy for 1997 collected in 1998 is $27,431,740 compared to an assessed value of
$23,808,060 for 1996 collected in 1997.
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 1997 is $305,760,500 compared to
$258,426,080 for 1996. The 1996 mill for General Fund operations is 5.880 mills and 1.517 mills for
the Co mm unity Center Debt Service Fund. The total mill levy is 7.397 for 1997 collected in 1998 . The
total a mo unt budgeted for General Fund operations is $1,725,000 (net of uncollectables , abatements,
etc.). The amount budget ed for the Community Center Debt Service Fund is $444,900 (net of
uncollectables, abatements , etc.) .
A home owner with a $100,000 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 Community Center Bond Fund
Total Taxes Paid To City Of Englewood
LIST OF ATTACHMENTS
Proposed bill for an ordinance
$100,000
9.73%
$9,730
5.880
$57.21
$100,000
9.73%
$9,730
1.517
$14.76
$71.97
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