Regular 3.
Regular City Council Meeting
- Meeting Date:
- 08/25/2014
- TITLE
- Public Hearing and Resolution for Park District 1 Assessment
- PRESENTED BY:
- Patrick M. Weber
- Department:
- City Hall Administration
Presentation:
PROBLEM/ISSUE STATEMENT
This resolution establishes the Park District 1 assessment of 1.443 % of taxable value, resulting in $2,265,000 in revenue. There is a per property assessment list in the City Clerk's office. Exhibit A shows the FY 15 projects and expenses that are supported by the assessments.
ALTERNATIVES ANALYZED
The Council must hold a public hearing and then may:
- Approve the resolution; or
- Amend and approve the resolution; or
- Not approve the resolution.
FINANCIAL IMPACT
Applied to a home with a $200,000 market value, the 1.443 % of taxable value would result in an assessment of approximately $38.
RECOMMENDATION
Staff recommends that the City Council hold the public hearing and approve the resolution setting the assessment for Park District 1 for tax year 2014.