Regular 4.D.
Regular City Council Meeting
- Meeting Date:
- 09/14/2020
- TITLE
- Public Hearing and Resolution for Park District 1 Assessment
- PRESENTED BY:
- Andy Zoeller
- Department:
- Finance
RECOMMENDATION
Staff recommends the City Council hold a public hearing and approve the resolution setting the assessment for Park District 1 for Fiscal Year 2021.
BACKGROUND (Consistency with Adopted Plans and Policies, if applicable)
The FY21 budget requires Park District 1 to generate $3,000,000 to fund FY21 operations. This resolution establishes the FY 21 Park District 1 assessment of .014097% of taxable value, resulting in $3,000,000 in revenue. The FY 20 assessment was .9663% of taxable value. There is a per property assessment list in the City Clerk's office.
ALTERNATIVES
City Council may:
- Approve, or;
- Disapprove
FISCAL EFFECTS
Applied to a median home with a $211,000 market value, the .014097 % of taxable value would result in an assessment of approximately $40.00. This is an increase of $12.50 over the prior year.