HomeMy WebLinkAbout11-08-2010 - Supplemental MaterialsMedina City Council Regular Meeting ITEM OB-1
Monday, November 8, 2010
REVISED AGENDA BILL
Subject: 2011 Property Tax Levy Resolution.
Category: ❑ Consent ❑ Ordinance ® Public Hearing
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® City Council Business ❑ Resolution ❑ Other — Discussion
Prepared By: Donna Hanson, City Manager
Pursuant to R'CW 84.55, the City is required to certify the estimated property tax to be levied by
the King County Assessor's Office. City Council draft budget includes new construction,
allowable one percent increase, based on the 2010 assessment, allowable refunds, and banked
capacity. The total estimated levy based on King County Assessors estimates is $2,416,322.
$2,367,712 2010 highest lawful levy including ($79,765 banked capacity)
23,677 1 % allowable increase
6,281 new construction
3,259 "refunds" per King County
10,000 possible increase in value in state -assessed property (estimate)
$2,410,929 total recommended levy for 2011
Attachment(s):
1 2011 Property Tax Levy Resolution
2 King County Ordinance 2152 property tax levy form
3 Preliminary Levy Limit Worksheet
Budget/Fiscat
Impact: $2,416,322 estimated property tax revenues in 2011
Staff
Recommendation: Hold public hearing and approve resolution
City Manager
Approval:
Proposed I move approval of the resolution adopting the 2011 property tax levy for
Council Motion: the City of Medina setting forth the estimated levy amount.
ITEM OB-1
CITY OF MEDINA
RESOLUTION NO.
A RESOLUTION OF THE CITY OF MEDINA CERTIFYING TO THE
GOVERNING AUTHORITY OF KING COUNTY THE ESTIMATES OF THE
AMOUNT TO BE LEVIED ON THE ASSESSED VALUATION OF THE
PROPERTY WHITHIN THE CITY FOR THE YEAR 2011.
WHEREAS, the City Council of the City of Medina attest that the population of
the City is less than ten thousand; and
WHEREAS, the City Council has properly given notice of the public hearing held
November 8, 2010 to consider the City's current expense budget for the 2011
calendar year, pursuant to RCW 84.55.120; and
WHEREAS, the City Council, after hearing, and after duly considering all relevant
evidence and testimony presented, has determined that the City of Medina
requires a regular levy in the amount of $2,410,929, which includes a 1 %
increase in property tax revenue from the previous year, as well as amounts
resulting from the addition of new construction and improvements to property,
banked capacity, 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 expected expenses
and obligations of the City and in its best interest;
NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of
Medina that an increase in the regular property tax levy is hereby authorized for
the 2011 levy in the amount of $97,312 which is a percentage increase of 4.24%
from the previous year. This increase is exclusive of additional revenue resulting
from the addition of new construction and improvements to property and any
increase in the value of state assessed property, and any additional amounts
resulting from any annexations that have occurred and refunds made.
PASSED BY THE CITY COUNCIL OF THE CITY OF MEDINA ON THE 8th
DAY OF NOVEMBER 2010 AND SIGNED IN AUTHENTICATION OF ITS
PASSAGE THE 81th DAY OF NOVEMBER 2010.
Approved as to form:
Bret Jordan, Mayor
Attest:
Bruce Disend, City Attorney Rachel Baker, City Clerk
ITEM OB-1
By Ordinance 2152 of the Metropolitan King County Council,
Taxing Districts are required annually
to submit the fallowing information regarding their
tax levies for the ensuing year as part of a
formal resolution of the Ulstrlct's governing body.
THE KING COUNTY ASSESSOR HAS NOTIFIED THE GOVERNING BODY OF
�,, , ,--- THAT THE ASSESSED VALUATION OF PROPERTY
LYING ITHIN THE BOUNDARIES OF SAID DISTRICT FOR THE ASSESSMENT
YEAR 2010 IS:
REGULAR (STATUTORY) LEVY (AS APPLICABLE):
EXPENSE FUND $_ 12 Lj I
-TEMP. LID NAME
- TEMP. LID NAME
- TEMP. LID NAME
RESERVE FUND
NON VOTED G.O. BOND (Limited)
OTHER (SPECIFY)
EXCESS (VOTER APPROVED) LEVY:
(Please list authorized bond levies separately.)
G.O. BONDS FUND LEVY
G.O. BONDS FUND LEVY
G.O. BONDS FUND LEVY
$
$
SPECIAL LEVIES (INDICATE PURPOSE AND DATE OF ELECTION AT
WHICH APPROVED):
TOTAL TAXES REQUESTED:
THE ABOVE IS A TRUE AND COMPLETE LISTING OF LEVIES FOR SAID DISTRICT
FOR TAX -YEAR 2011 AND THEY ARE WITHIN THE MAXIMUMS ESTABLISHED BY
LAW.
(AUTHORIZED SIGNATURE)
(DATE)
87
PRELIMINARY
LEVY LIMIT WORKSHEET - 2011 Tax Roll
TAXING DISTRICT: City of Medina
The following determination of your regular levy limit for 2011 property taxes is provided by the King County
Assessor pursuant to RCW 84.55.100.
Annexed to Library District (Note 1) Estimated Library rate: 0.50000
Using Limit Factor
Using Implicit
For District
Calculation of Limit Factor Levy
Price Deflator
2,367,712
Levy basis for calculation: (2010 Limit Factor) (Note 2)
2,367,712
1.0100
x Limit Factor
1.0154
2,39.1,389
= Levy
2,404,151
6,967,805
Local new construction
6,967,805
0
+ Increase in utility value (Note 3)
0
6,967,805
= Total new construction
6,967,805
0.90148
x Last year's regular levy rate
0.90148
6,281
= New construction levy
6,281
2,397,670
Total Limit Factor Levy
2,410,432
Annexation Levy
0
Omitted assessment levy (Note 4)
0
2,397,670
Total Limit Factor Levy + new lid lifts
2,410,432
2,268,545,177
_ Regular levy assessed value less annexations
2,268,545,177
1.05692
= Annexation rate (cannot exceed statutory maximum rate)
1.06255
0
x Annexation assessed value
0
0
= Annexation Levy
0
Lid lifts, Refunds and Total
0
+ First year lid lifts
0
2,397,670
+ Limit Factor Levy
2,410,432
2,397,670
= Total RCW 84.55 levy
2,410,432
3,259
+ Relevy for prior year refunds (Note 5)
3,259
2,400,929
= Total RCW 84.55 levy + refunds
2,413,691
Increase Information (Note 7)
1.05836 Levy rate based on allowable levy 1.06398
2,294,077 Last year's ACTUAL regular levy 2,294,077
97,312 Dollar increase over last year other than N/C — Annex 110,074
4.24% Percent increase over last year other than N/C — Annex 4.80%
Calculation of statutory levy
Regular levy assessed value (Note 8)
2,268,545,177
x Maximum statutory rate
3.10000
= Maximum statutory levy
7,032,490
+Omitted assessments levy
0
=Maximum statutory levy
7,032,490
Limit factor needed for statutory levy
Not usable
ALL YEARS SHOWN ON THIS FORM ARE THE YEARS IN WHICH THE TAX IS PAYABLE.
Please read carefully the notes on the reverse side.
11/08/10 3:20 PM
LevyLimitWS.doc
City of Medina
2011 Budget Session
October 8, 2011
Cash Source and Use Detail
Beginning cash balances
General fund
Equipment fund
Street fund
Reserve fund
Tree fund
Capital projects fund
Beginning cash balances - all funds
Operating revenue
Property taxes
Sales taxes
Utility Taxes
Building permits
Other operating revenue
Total operating revenue
Operating expenditures
Police department
Fire department (contract -city ofbellevue)
Development services (planning, zoning, land -use)
Central services (costs toruncityhall)
Parks department
Finance department
Executive (city manager costs)
Legal department (advisory and defense)
Municipal court (activities associated with police dept)
Emergency preparedness
Recreation- lifeguard program
Legislative (city council costs)
Total general fund expenditures
Equipment fund expenditures
Street fund expenditures
Tree fund expenditures
Total operating expenditures
Impact from operations
Capital project impacts
Real estate excise tax revenue
Other capital project revenue
Capital project expenditures
Total impacts from capital project activities
Ending cash balances
General fund
Equipment fund
Street fund
Reserve fund
Tree fund
Capital projects fund
Ending cash balances - all funds
Document prepared and submitted by Shawn Whitney
City of Medina
2011 Budget Session
October 8, 2010
Budget Work Change Analysis
Operating Only (Everything except Capital Projects)
Round 1 Operating Revenue
4,623,492
Round 4 Operating Revenue
5,180,727
Increase
557,235 12%
Round 1 Operating Expenditures
5,489,681
Round 4 Operating Expenditures
5,382,882
Decrease
(106,799) (2`~Yo)
Round 1 Operating GAP (866,189)
Round 4 Operating GAP (202,155)
Decrease 664,034
Document prepared and submitted by Shawn Whitney
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