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File #: RES 15-019    Version: 1 Name: Resolution Declaring Substantial Need for 2016 Prop. Tax Levy
Type: Resolution Status: Passed
File created: 11/13/2015 In control: CITY COUNCIL REGULAR
On agenda: 11/16/2015 Final action: 11/16/2015
Title: Resolution No. 15-019 Finding and Declaring Substantial Need for 101% Limit Factor Under the Revised Code of Washington (RCW) 84.55 Details: This resolution provides for Council to establish a substantial need for the General Fund Property Tax Levy and the Emergency Medical Services Levy. This resolution is required by RCW 84.55 to increase property taxes to the lawful limit of 1% when the Implicit Price Deflator (IPD) is below 1%. For the 2016 Levy Year, the IPD is 0.251%. Presenter: Cathy Huber Nickerson, Finance Director
Indexes: Budget, Property Taxes
Attachments: 1. Resolution No. 15-019 Declaring Substantial Need
Related files: REP 15-540, REP 15-492, AI 15-407, ORD 15-018, ORD 15-019, RES 16-018

Title

Resolution No. 15-019 Finding and Declaring Substantial Need for 101% Limit Factor Under the Revised Code of Washington (RCW) 84.55

Details:  This resolution provides for Council to establish a substantial need for the General Fund Property Tax Levy and the Emergency Medical Services Levy. This resolution is required by RCW 84.55 to increase property taxes to the lawful limit of 1% when the Implicit Price Deflator (IPD) is below 1%. For the 2016 Levy Year, the IPD is 0.251%.

Presenter: Cathy Huber Nickerson, Finance Director

Recommended Action

Recommended Action: Staff recommends Council move to adopt Resolution No. 15-019.