Loading...
HomeMy WebLinkAboutRes2015-055 Sponsored by: Hunt CITY OF SEWARD,ALASKA RESOLUTION 2015-055 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD, ALASKA, SETTING THE MILL RATE (UNCHANGED) FOR 2015 AT 3.12 MILLS WHEREAS, the Seward City Council met in televised public work sessions on September 16, 19 and 24, 2013, to prepare the 2014/2015 Biennial Budget which was approved by the City Council on November 12, 2013 after two public hearings; and WHEREAS, the mill rate for the City of Seward for 2014 was established, unchanged at 3.12 mills, during the biennial budget process, but the City did not set the mill rate for 2015 at the same time, as it was considered premature to do so; and WHEREAS, the total assessed property valuation as determined by the Kenai Peninsula Borough Assessor, including any supplemental assessment rolls, form the general basis for computing estimated property tax revenues; and WHEREAS, the Kenai Peninsula Borough will mail property tax bills on July 1, with taxes due in full on or before October 15, necessitating approval of the City's 2015 mill rate which is recommended to remain unchanged at 3.12 mills. NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SEWARD,ALASKA, that: Section 1. The total assessed valuation as determined by the Kenai Peninsula Borough Assessor, and any supplemental assessment rolls for said period which may be certified by the Borough Assessor at a future date, shall be the basis for computing estimated property tax • revenues for the City of Seward, Alaska. Section 2. The rate of levy on the 2015 real and personal property tax rolls shall be and is hereby levied at the rate of 3.12 mills per dollar of assessed valuation in Municipal Service Zones One (Borough designation TCA 40) and Two (Borough designation TCA 41). Section 3. This resolution shall take effect immediately upon adoption. CITY OF SEWARD,ALASKA RESOLUTION 2015-055 PASSED AND APPROVED by the City Council of the City of Seward,Alaska, this 8`h day of June, 2015. THE CITY OF SEWARD,ALASKA 4% - % /f an Bardarson,Mayor AYES: Casagranda, Keil, Terry, Squires, Darling, Bardarson NOES: None ABSENT: Butts ABSTAIN: None ATTEST: ■ . .,-.o.c/t •h:nna Ki Tiff MC , Ci Clerk (City Seal) o.©mQ•9®m���®®B® es 4s4 o••°o•eoeoo t� 0N •. : u SEAL ) • a o Q� #0 • ��yy 91' o ry ,'C-F� ®F" gi 'I.Q. a��O COUNCIL AGENDA STATEMENT Meeting Date: June eo 15 S„� 1 aOt OF Stk' Through: James Hunt, City Manage ,. From: Kristin Erchinger,Finance Director '' gLAS�P RE: 2015 Mill Rate unchanged at 3.12 mills BACKGROUND &JUSTIFICATION: The Seward City Council approved Resolution 2013-080 on November 12, 2013, -approving the 2014/2015 Biennial Budget and setting the 2014 mill rate unchanged, at 3.12 mills. One mill is equal to 1/1000 of one dollar, such that $1 in tax is assessed for every $1,000 in property value. A mill rate of 3.12 mills equates to a tax bill of$546 for a median-priced home valued at$175,000. The City of Seward generally approves the mill rate at the same time as it approves the budget. However, when the City transitioned to a biennial budget, there was concern with approving a mill rate for a period two years in the future. Therefore, when the 2014/2015 Biennial Budget was approved, the Council approved the mill rate for 2014, but not for 2015. Property tax is levied by the City and collected by the Kenai Peninsula Borough. Taxes are payable when billed,with bills being mailed on July 1St and due in full on or before October 15. The taxpayer has the option of paying in two equal installments,with the first half due before-September 15 and the second half due on or before November 15. If the first-half of taxes are not paid by September 15, payment in full becomes due on or before October 15. The City of Seward maintains two taxing jurisdictions; one on the west side of Resurrection Bay and one of the east side of Resurrection Bay. It is possible to establish different mill rates for each of the jurisdictions, although the City has historically maintained equal rates. The administration recommends the mill rate remain unchanged at 3.12 mills;the mill rate has been 3.12 mills since 1997. INTENT: To maintain the current mill rate of 3.12 mills for 2015. CONSISTENCY CHECKLIST: Yes No N/A 1. Comprehensive Plan (document source here): X 2. Strategic Plan (document source here): X 3. Other(list): 2014/2015 Biennial Budget X FISCAL NOTE: The 2015 Budget was predicated on a mill rate of 3.12 mills. Therefore, there is no budgetary impact associated with this resolution. The General Fund Budget for 2015 anticipates real and personal property tax revenues of$1,010,000. Thus, a 1.00 mill property tax generates approximately$323,000 in revenue. Approved by Finance Department: /f• ATTORNEY REVIEW: Yes No X Not Applicable 'Re-Solo-HO v-% 20I —vS5 RECOMMENDATION: City Council maintain a mill rate of 3.12 for 2015.