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ORD 16-827 - Adopting 2017 Property Tax RateORDINANCE NO. 16 -827 AN ORDINANCE of the City of Federal Way, Washington, relating to fixing the property tax amount for the year of 2017. WHEREAS, the City Council of the City of Federal Way has met and reviewed all revenue sources and examined all anticipated expenses and other obligations for the 2017/18 biennium; and WHEREAS, the City Council, in the course of considering the biennium budget, conducted public hearings on October 4, October 18, November 1, November 9, November 15, and December 6, 2016 for the proposed property tax levy for 2017, and proposed revenues and expenditures for the biennium; and WHEREAS, the City Council, after hearing and duly considering all relevant evidence and testimony, determined that it is necessary and advisable to authorize an increase in regular property tax consistent with the limit factor prescribed by RCW 84.55.0101 to discharge the expected expenses and obligations of the City; and WHEREAS, the City Council has resolved to levy a property tax consistent with RCW 84.52.043. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF FEDERAL WAY, WASHINGTON, DO ORDAIN AS FOLLOWS: Section 1. Levy. There shall be and there is hereby levied against the property in the City of Federal Way, Washington, a municipal regular property tax for the year 2017 for the purpose of paying expenses and discharge obligations of the City in the amount of Ten Million Nine Hundred Thousand Dollars ($10,900,000). Ordinance No. 16 -827 Page 1 of 3 The levy amount shall include (1) an increase in property tax revenue from the previous year of Seventy -Four Thousand Three Hundred and Ninety -Eight Dollars ($74,398) or Seven One Hundredths of a percent (0.71 %), (2) new construction and improvements to property, (3) any increase in the value of state - assessed property, and (4) amounts authorized by law as a result of any annexations that have occurred, as well as applicable refunds already made. Section 2. Severability. The provisions of this ordinance are declared separate and severable. The invalidity of any clause, sentence, paragraph, subdivision, section, or portion of this ordinance or the invalidity of the application thereof to any person or circumstance, shall not affect the validity of the remainder of the ordinance, or the validity of its application to other persons or circumstances. Section 3. Corrections. The City Clerk and the codifiers of this ordinance are authorized to make necessary corrections to this ordinance including, but no limited to, the correction of scrivener /clerical errors, references, ordinance numbering, section/subsection numbers and any references thereto. Section 4. Ratification. Any act consistent with the authority and prior to the effective date of this ordinance is hereby ratified and affirmed. Section 5. Effective Date. This ordinance shall take effect on January 1, 2017. PASSED by the City Council of the City of Federal Way this 6t" day of December, 2016. Ordinance No. 16 -827 Page 2 of 3 ATTEST: tC CLERK CITY OF FEDERAL WAY STEPH • : COURTNEY, CMC APPROVED AS TO FORM: Cze CITY ATTORNEY, Win. .? G► l\ FILED WITH THE CITY CLERK: 11/11/2016 PASSED BY THE CITY COUNCIL: 12/06/2016 PUBLISHED: 12/09/2016 EFFECTIVE DATE: 01/01/2017 ORDINANCE NO.: 16 -827 Ordinance No. 16 -827 Page 3 of 3