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Home My WebLink AboutResolution No. 428RESOLUTION NO. A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MEDINA, WASHINGTON, CERTIFYING TO THE GOVERNING AUTHORITY OF KING COUNTY THE ESTIMATES OF THE TALC AMOUNT TO BE LEVIED ON THE ASSESSED VALUATION OF THE PROPERTY WITHIN THE CITY FOR THE YEAR 202 WHEREAS, the City Council of the City of Medina attests that the population of the City is less than ten thousand; and WHEREAS, the City Council has properly even advance notice of the public hearing duly held November 14, 2622 to consider the revenue sources for the City"s current expense budget for the 2023 calendar year; all pursuant to RCW 64.66.120-, and WHEREAS, the "voters approved City of Medina Proposition 1 on November 6, 2019„ to increase Medina's regular property tax levy above the limit factor by 0.20/ 1000 assessed value to a maximum rate of 0.6 7'12/ l069 assessed valuation for collection in 2020, to set a 6% limit factor for each year 2 21-2625, to use the 2025 levy .amount as the base to compute subsequent levy limits, and exempt lave income seniors and disabled persons; all as set forth in Medina Ordinance No. 970; and WHEREAS, the City Council, after hearing„ and after duly considering all relevant evidence and testimony presented at the hearing, has determined that the City of Medina requires a regular levy in the amount of 4,318,6 6„ for an increase of $150,783, representing a 3,62% increase from the previous year, including the levy lid lift;: as well as amounts resulting from the addition of new construction and improvements to property, and any possible increase in the value of state -assessed property„ and amounts authorized by law as a result of any annexations that have occurred and refunds made, in order to discharge the erected expenses and obligations of the City and in its best interest. NOW THEREFORE, THE CITY COUNCIL OF THE CITY OF MEDINA, WASHINGTON, RESOLVE$ AS FOLLOWS: Approval and Effective hate. This Resolution is hereby adopted and shall be effective as of the date of adoption by the City Council set forth below. PASSED BY THE CITY COUNCIL F THE CITY OF MEDINA ON NOVEMBER 14, 202 AND SIGNED IN AUTHENTICATION OF ITS PASSAGE N NOVEMBER 14, 2022. Jessica Rosman, Mayor Approved as to form .Attest: Ogden Murphy Wallace, PLLC LU_0st Scott Misall, City Attorney Aimee Kellerman, City Clem FILED WITH THE CITY CLERK: PASSED BY THE CITY COUNCIL: RESOLUTION NO. 42 Resolution No. 428 Page '1 of I By Ordinance 2152 of the Metropolitan King CountyCouncil, Taxing Districtsre required annuallytosubmitthefollowing information regarding theirt levies f rt e ensuing year as part of a_ formal ra lui e District's ri THE KING COUNTY ASSESSOR HAS NOTIFIED THE GOVERNING BODY OF Medina THAT THE ASSESSED VALUATION OF PROPERTY LYING WITHIN THE BOUNDARIES OF SAID DISTRICT FOTHE ASSESSMENT YEAR 20 IS: REGULAR (STATUTORY) LE (AS APPLICABLE): EXPENSE FU U LIDLIFTNAI E - LIULIFTNAI E RESERVEFUND NON -VOTED G.O. BOND (Limited) REFUNDS(Noted onw or shee TOTAL REGULAR LEVY' EXCESS (VOTER APPROVED) LE (Meese list authorized bond levies separately.) G.O. BONDS FUND LEVY G.O. BONDS FUND LEVY G.O. BONDS FUND LEVY 7,1211071,719 3,227,566 1,102 3,228,668 SPECIAL LEVIES (INDICATE PURPOSE AND LATE OF ELECTION ATWHIGHAPPROVED, E P ° LIB LIFTS): 118f1 B Voter approved levy lid lift, year4of6 $ 1,0897988 1,038,084 (Year 3) + 5% increase TOTAL TAXES REQUESTED: 4,318,656 THE ABOVE IS ATRUEAND COMPLETE LISTING OF LEVIES FOR, SAID DISTRICT FOR TAX YEAR 2 23AN THEY ARE WITHIN THE MAXIMUMS ESTABLISHED BY LAW. (AUTHORIZED SIGNATURE) PRELIMINARY LEVY LIMIT WORKSHEET - 2023 Tax Roll TAXING ICI} TI� . Cityo €dinii r/ p7 Tii oll(7ai,(1 g deter ni7J((lt()n of'pI`our rtgul ar leg lindl for 023 ptt'dAperny t[X.kes isprovidedbytheKing County Annexed to Library District (Note 1 ) Estimated Library rate: 0.23474 Using Limit Factor Using Implicit For District Calculation of Limit Factor Levy Price Deflator 4,482„053 Levy basis for calculation (2022 Limit Factor) (Mote 2) 4,482,053 1.0500 x Limit Factor 1.0646 4,706,156 = Levy 4„771,45 72,661,74 Local new construction 72,661,874 0 + Increase in utility value (Dote 3) t 72,661,874 = Total new construction 72,661,874 0.77728 x Last year's regular levy rate 0.77728 56,479 = New construction levy 56,479 4,762,635 Total Limit Factor Levy 4,827,938 Annexation Levy 0 Omitted assessment levy (Mote 4) 4,762,635 Total Limit Factor Levy + new lid lifts 4„827,938 7„121,072,719 Regular levy assessed value less annexations 7,121,072,719 0.66881 = Annexation rate (cannot exceed statutory maximum rate) 0,67798 0 x Annexation assessed value 0 0 = Annexation Levy 0 Lid lifts, Refunds and Total 0 + First year lid lifts 0 4,762,635 + Limit Factor Levy 4,827,938 4,762,635 - Total RCW 84.55 levy 4,827,938 1,102 + Relevy for prior year refunds (Note 5) 1,102 4,763,737 = Total RCt+V 84.55 levy + refunds 4,829,040 Levy Correction: Year of Error (+or®) 4,763,736 _ ALLOWABLE LEVY (Mote 6) 4,829,040 Increase Information (Note 7) 0,66896 Levy rate based on allowable levy 0.6781 4,167,490 Last year's ACTUAL regular levy 4,167,490 538,666 Dollar increase over last year other than N/C - Annex 603,969 12.93% Percent increase over last year other than N/C - Annex 14A9% Calculation of statutory levy Regular levy assessed value (Note 8) 7,121,072,719 x Maximum statutory rate 3.36526 =Maximum statutory levy 23,964,261 +Omitted assessments levy 0 =Maximum statutory levy 23,964,261 Limit factor needed for statutory levy Not usable ALI, YEARS SHOWN OIL THIS FORM ARE THE YEARS IN I WHICH THE "TAX IS PAYABLE. , lett e read etirraf8(llt the ra<rt(s on the r czver°;sc •sack; I I /01' 022 9:24 AM LevyLimit S.do Notes: 1) Rates for fire districts and the library district are estimated at the time this worksheet is produced. Fire district and library district rates affect the maximum allowable rate for cities annexed to them. These rates will change, mainly in response to the actual levy requests from the fire and library districts. Hence, affected cities may have a higher or lower allowable levy rate than is shown here when final levy rates are calculated. 2) This figure shows the maximum allowable levy, which may differ from any actual prior levy if a district has levied less than its maximum in prior years. The maximum allowable levy excludes any allowable refund levy if the maximum was based on a limit factor. The maximum allowable levy excludes omitted assessments if the maximum was determined by your district's statutory rate limit. If your district passed a limit factor ordinance in the year indicated, that limit factor would help determine the highest allowable levy. However, if the statutory rate limit was more restrictive than your stated limit factor, the statutory rate limit is controlling. 3) Any increase in value in state -assessed property is considered to be new construction value for purposes of calculating the respective limits. State -assessed property is property belonging to inter -county utility and transportation companies (telephone, railroad, airline companies and the like). 4) An omitted assessment is property value that should have been included on a prior year's roll but will be included on the tax roll for which this worksheet has been prepared. Omits are assessed and taxed at the rate in effect for the year omitted (RCW 84.40.080-085). Omitted assessments tax is deducted from the levy maximum before calculating the levy rate for current assessments and added back in as a current year's receivable. 5) Administrative refunds under RCW 84.69.020 were removed from the levy lid by the 1981 legislature. 6) A district is entitled to the lesser of the maximum levies determined by application ofthe limit under RCW 84.55 and the statutory rate limit. Levies may be subject to further proration if aggregate rate limits set in Article VII of the state constitution and in RCW 84.52.043 are exceeded. 7) This section is provided for your information, and to assist in preparing any Increase Ordinance that may be required by RCW 84.55.120. The increase information compares the allowable levy for the next tax year with your ACTUAL levy being collected this year. The actual levy excludes any refund levy and expired temporary lid lifts, if applicable. New construction, annexation and refund levies, as well as temporary lid lifts in their initial year, are subtracted from this year's allowable levy before the comparison is made. 8) Assessed valuations shown are subject to change from error corrections and appeal board decisions recorded between the date of this worksheet and final levy rate determination. 11/01/22 9:24 AM LevyLimiff&doc