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File #: RES 16-018    Version: 1 Name: Resolution 16-019 Substantial Need Declaration
Type: Resolution Status: Passed
File created: 11/14/2016 In control: CITY COUNCIL REGULAR
On agenda: 11/21/2016 Final action: 11/21/2016
Title: Resolution No. 16-018 Finding and Declaring a Substantial Need for Using the 101% Limit Factor Under Revised Code of Washington (RCW) Chapter 84.55 Details: The current implicit price deflator (IPD) limit is under 1% at .953%. This resolution allows Council to approve a 1% property tax increase for the 2017 property tax levy by declaring the City has a "substantial need" for the full 1% to help fund public safety, transportation, parks and recreation and facilities. Presenter: Cathy Huber Nickerson, Finance Director
Indexes: 2017-2018 Budget, Property Taxes, Resolution
Attachments: 1. Resolution No. 16-018 Substantial Need for 2017 Property Tax Levy
Related files: REP 16-405, RES 15-019, REP 16-429, ORD 16-021, ORD 16-020, ORD 16-023

Title

Resolution No. 16-018 Finding and Declaring a Substantial Need for Using the 101% Limit Factor Under Revised Code of Washington (RCW) Chapter 84.55

Details:  The current implicit price deflator (IPD) limit is under 1% at .953%. This resolution allows Council to approve a 1% property tax increase for the 2017 property tax levy by declaring the City has a "substantial need" for the full 1% to help fund public safety, transportation, parks and recreation and facilities.

Presenter:  Cathy Huber Nickerson, Finance Director

Recommended Action

Recommended Action:  Staff recommends Council move to adopt Resolution No. 16-018.