HomeMy WebLinkAbout1998 Ordinance No. 073•
•
•
ORDINANCE NO . !23
SERIES OF 1998
BY AUTHORITY
COUNCIL BILL NO. 66
INTRODUCED BY COUNCIL
MEMBER WAGGONER
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 ~itizens;
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 1998, due and payable
as required by statute in the year 1999 , a tax of 5.880 mills on the dollar for the
General Fund of the City of Englewood , Colorado , and 1.460 mills on the dollar for the
Community Center Bond Fund Debt Service Fund of the City of Englewood, Colorado .
10 b vi
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 1998 , due and
payable as required by law in 1999 , 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 5th day of October ,
1998 .
-1-
Published as a Bill for an Ordinance on the 9th day of October, 1998.
Read by title and passed on final reading on the 19th day of October, 1998.
Published by title as Ordinance No . ~Series of 1998, on the 23rd day of
October , 1998.
Loucrishia A. Ellis , City Clerk
I , Loucrishia A. Ellis, City Clerk of the City of Englewood, Colorado , hereby certify
that the above and foregoing is a true COPJL-,9/-the Ordinance passed on final reading
and published by title as Ordinance No.'µ Series of 1998.
-2-
•
•
•
'.,, .. ·
•• •
•
•
' . It
COUNCIL COMMUNICATION
Date Agenda Item Subject
Bill for an Ordina nce
establishing the 1998 Mill Levy
October 5 , 1998 11 a iv to be Collected in 1999
Initiated By Staff Source
Department of Financial Services Frank Gryglewicz, Director
COUNCIL GOAL AND PREVIOUS COUNCIL ACTION
City Council and staff held a 1999 Budget and Goals setting meeting on April 25 , 1998. The City
Council reviewed the C ity 's Five Year Cap ital Plan (FYCP) at a study session held on July 20, 1998.
The operat ing budgets for all City departments and funds were reviewed at a budget retreat held on
September 19 , 1998. A public hearing regarding the Proposed 1999 Budget was held on September
21 , 1998.
RECOMMENDED ACTION
Staff recommends Council approve the proposed bill for an ordinance establishing the 1998 mill levy to
be collected in 1999 .
BACKGROUND, ANALYSIS, 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 ra ising 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 1997 (5.880 mills). The 1998 levy is certified to
Arapahoe County for collection in 1999 .
The Englewood Downtown Development Authority 's mill levy is set at 4.397 mills as recommended and
approved by the Authority. The net assessed value subject to the Englewood Downtown Development
Authority mill levy for 1998 col lected in 1999 is $26 ,443 ,940 compared to an assessed value of
$25 ,297,240 for 1997 collected in 1998.
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 1998 is $302,981 ,240 compared to
$299 ,448 ,950 for 1997. The 1998 mill for General Fund operations is 5.880 mills and 1.460 mills for
the Commun ity Center Debt Service Fund. The total m ill levy is 7.340 for 1998 col lected in 1999. The
tota l amount budgeted for General Fund operations is $1,763 ,839 (net of uncollectibles, abatements ,
etc .). The amount budgeted for the Commun ity Center Debt Service Fund is $437 ,600 (net of
uncollectibles , abatements , etc.) .
A home owner w ith a $100 ,000 dollar home in Englewood would pay the following to the City of
Englewood:
Market Va lue
Assessment Ratio
Assessed Value
General Operations Mill Levy
Taxes Paid For General Fund Operations
Market Value
Assessment Ratio
Assessed Value
Commun ity Center Bond Fund Mill Levy
Taxes Paid For Community Center Bond Fund
Total Taxes Paid To City Of Englewood
LIST OF ATTACHMENTS
Proposed b ill for an ordinance
$100,000
9.74 %
$9 ,740
5.880
$57.27
$100 ,000
9.74%
$9 ,740
1.460
$11.29
$68.56
, '. •
•
•