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ORD 17-842 - Setting Tax Property Tax Rate for 2018ORDINANCE NO. 17 -842 AN ORDINANCE of the City of Federal Way, Washington, relating to fixing the property tax amount for the year of 2018. 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 November 7, 2017, and November 21, 2017 for the proposed property tax levy for 2018, 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 2018 for the purpose of paying expenses and discharge obligations of the City in the amount of Eleven Million Dollars ($11,000,000). The levy amount shall include (1) an increase in property tax revenue from the previous year of Eighty -One Thousand Five Hundred and Forty -Eight Dollars ($81,548) or Seventy -Seven Ordinance No. 17 -842 Page 1 of 3 Hundredths of a percent (0.77 %), (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, 2018. PASSED by the City Council of the City of Federal Way this 5th day of December, 2017. [Signatures to follow] Ordinance No. 17 -842 Page 2 of 3 CITY OF FEDERAL WAY: JIM FEgRELL, MAYOR ATTEST: E COUR NEY, CMC, CITY CLERK A AS TO FORM: J. RYAN CALL, CITY ATTORNEY FILED WITH THE CITY CLERK: 11/16/2017 PASSED BY THE CITY COUNCIL: 12/05/2017 PUBLISHED: 12/08/2017 EFFECTIVE DATE: 01/01/2018 ORDINANCE NO.: 17 -842 Ordinance No. 17 -842 Page 3 of 3