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Ordinance 08-019 Confirming Property Tax Levy • CITY OF SPOKANE VALLEY SPOKANE COUNTY WASHINGTON ORDINANCE NO.08-019 AN ORDINANCE OF THE CITY OF SPOKANE VALLEY, WASHINGTON, CONFIRMING THE CITY PROPERTY TAX LEVY AT 6.39% ($631,060) IN EXCESS OF THE 2007 AD VALOREM PROPERTY TAX LEVY WHICH WAS COLLECTED IN THE CITY 2008 FISCAL YEAR, PURSUANT TO RCW 84.55.120, PROVIDING FOR SEVERABILITY,AND AN EFFECTIVE DATE WHEREAS, State law authorizes the City of Spokane Valley to levy regular property taxes upon the taxable property within the City limits in order to provide revenue for the annual Current Expense Budget of the City; WHEREAS, Initiative 747 (RCW Chapter 84.55) provided that cities with a population of over 10,000 persons can increase the amount of their regular property taxes annually by the lesser amount of inflation or 1% of the highest lawful levy, plus any additional value resulting from new construction, improvements and'state assessed property; WHEREAS, an increase in property tax revenue may be authorized by the City through adoption ofa separate ordinance, pursuant to notice, specifically authorizing the increase stated in terms of dollars and percentage. NOW THEREFORE, the City Council of the City of Spokane Valley, Washington, do ordain as follows: Section 1. Purpose. The purpose of this Ordinance is to utilize excess levy capacity of the City that resulted from the tax levy in 2007 for the 2008 fiscal year. State law authorizes the City to increase its property taxes above the highest lawful allowable levy in a preceding year plus new construction, improvements and assessment of State owned property. The taxes received from the increased levy of $631,060 set forth herein, which are included in the regular property tax levy of $10,500,000 levied through Ordinance 08-020 are appropriated in the 2009 City Budget, adopted through Ordinance 08-020. Section 2. Findings. A. The City, following public hearings, adopted a balanced Current Expense Budget that sets forth citizen priorities and promotes the health,welfare and safety of the City. B. The City published notice of this Ordinance through the procedure used to notify the public of regular Council meetings.. C. To support the adopted Current Expense Budget of the City and provide for the delivery of services, the making of improvements and the promotion of the health, welfare and safety of the citizens, the City Council, after considering the financial requirements of the City for 20,09, finds'and determines that there is substantial need to, include the 6.39% increase($631,060)allowed by State law,within the ad valorem property tax levy of$10,500,000 which was adopted by the City Council on September 23, 2008 through Ordinance 08-020. Ordinance 08-019 Additional PropTae Page 1 of 2 Section 3. 6.39%lncrease.Pursuant to ROW 84.55, the City, by adopting Ordinance 08- 019, imposed an increase in the regular property tax levy (in addition to the increase resulting from the addition of new construction, improvements and the increased value of State assessed property), in the amount of$631,060 which is a percentage increase of 6.39% from the 2007 Ad Valorem Property Tax Levy,which was collected in the City 2008 Fiscal Year. Section 4. City Clerk. The City Clerk shall certify a copy of this Ordinance and forward the same to the Board of County Commissioners and the Spokane County Assessors Office upon its passage. Section 5. Severability. Ilany section, sentence, clause, or phrase of this ordinance should be held to be invalid or unconstitutional, such decision shall not affect the validity or constitutionality of any other section,sentence,clause,or phrase of this ordinance. Section-6. Effective Date. This ordinance shall be in full force and effect five(5)days after publication of this ordinance or a summary thereof in the official newspaper of the City as provided by law. Passed by the City Council of the City of Spokane Valley Sep amber 23, 008. e ,/ 1_ � 1 D eputy Mayor Dick Denenny APirr A ,...,)114., )---- ___13, Christine Bainbridge, ity Clerk K_________ Approved as to Form: ,IA: ! t O ice of the CityAttorney Date of Publication: /a— 3 --de Effective Date: /0 -R-di' Ordinance 08-019 Additional PropTax Page 2 oft