This resolution amends Resolution 12-19206, passed on 08/27/12, establishing Park District 1 assessments. City Council adopted an FY 13 budget of $1,855,000 for Park District 1. Therefore, assessments in the same amount will be needed to pay for the improvements and maintenance in the FY 13 budget.

The amended resolution process includes one step left out of Resolution 12-19206.  Montana Code Annotated 7-11-1025(3) requires an official list of all properties in the district including tax code, owner/owners name, and assessment amount by property be provided for viewing in the City Clerk’s office. Staff submitted a new legal ad that stated the official list would be available in the City Clerk’s office for viewing.

The Council must hold a public hearing and then may:

• Approve the resolution amending resolution 12-19206; or
• Not approve the resolution amending resolution 12-19206.
 

The assessment amounts for each property on the official list will be forwarded to the County Treasure ensuring the amounts do not change.

Based on the change made using each individual properties taxable value and aggregating those, a home with a $200,000 market value would have an assessment of approximately $31 or 1.184% of taxable value. This is an increase of 2.8 thousandths of a percent from resolution 12-19206 passed on 08/27/12.

This assessment will generate $1,854,434 in revenue barring any protests or delinquencies.   This is $566 less than the expenditure budget of $1,855,000 due to a limit of four decimal places in the assessment calculation.

Staff recommends that the City Council hold the public hearing and approves the resolution amending resolution 12-19206 setting the assessments for Park District 1 for tax year 2012