TO: Members of the City Council
FROM: Mayor Angela Birney
DEPARTMENT DIRECTOR CONTACT(S):
Finance
Chip Corder
425-556-2189
DEPARTMENT STAFF:
Finance
Kelley Cochran
Deputy Finance Director
TITLE:
title
Adoption of an Ordinance Establishing the 2022 Property Tax Levy for General Operations
a. Ordinance No. 3068: An Ordinance of the City of Redmond, Washington, Levying Property Taxes for the City of Redmond tor the Fiscal Year Commencing January 1, 2022, on All Property, Both Real and Personal, in Said City Which is Subject to Taxation for the Purpose of Paying Sufficient Revenue to Carry on General Operations, Recognize Voter Approved Levy Lid Lifts for Public Safety and Parks for the Ensuing Year as Required by Law
OVERVIEW STATEMENT:
recommendation
The property tax ordinance establishes the 2022 property taxes for general operations and for supporting Redmond's Levy Funds for Parks and Public Safety. Pursuant to state law, the City of Redmond may levy property taxes annually for general operations. The Revised Code of Washington (RCW) 85.55.005 allows a jurisdiction over 10,000 in population to raise property taxes by the lesser of the implicit price deflator or 1% plus new construction, annexations, and other miscellaneous adjustments (e.g., refunds) with a simple majority vote.
body
? Additional Background Information/Description of Proposal Attached
REQUESTED ACTION:
? Receive Information ? Provide Direction ? Approve
REQUEST RATIONALE:
* Relevant Plans/Policies:
2021-2022 Adopted Budget
* Required:
(RCW) 85.55.005
* Council Request:
N/A
* Other Key Facts:
N/A
OUTCOMES:
Redmond received preliminary property tax figures from King County for 2022 on September 30, 2021, which did not include assessed valuation numbers for new construction on state public utilities. As a result, these numbers are estimates and are subject to change once the final worksheet is received from King County. The attached ordinance (Attachment A) is based...
Click here for full text