7d - Property Tax Levy OrdinanceCity of Federal Way
2015 PROPERTY TAX LEVY
Introduction and 1 St Reading of 2015 Property
Tax Levy Ordinance for 2016
Regular Council Meeting
November 17, 2015
Presented:
Ade' Ariwoola, Finance Director
�� Federal Way
RCW 84,055*120 - Public Hearin
(1) A taxing district, other than the state, that collects regular levies must hold a
public hearing on revenue sources for the district's following year's current expense
budget. The hearing must include consideration of possible increases in property tax
revenues and must be held prior to the time the taxing district levies the taxes or
makes the request to have the taxes levied. The county legislative authority, or the
taxing district's governing body if the district is a city, town, or other type of district,
must hold the hearing. For purposes of this section, "current expense budget"
means that budget which is primarily funded by taxes and charges and reflects the
provision of ongoing services. It does not mean the capital, enterprise, or special
assessment budgets of cities, towns, counties, or special purpose districts.
(2) If the taxing district is otherwise required to hold a public hearing on its proposed
regular tax levy, a single public hearing may be held on this matter.
(3)(a) Except as provided in (b) of this subsection (3), no increase in property tax
revenue may be authorized by a taxing district, other than the state, except by
adoption of a separate ordinance or resolution, pursuant to notice, specifically
authorizing the increase in terms of both dollars and percentage. The ordinance
or resolution may cover a period of up to two years, but the ordinance must
specifically state for each year the dollar increase and percentage change in the levy
from the previous year.
RCW 84.5 5. 0101 — Authorization for
Taxin
District to use 101 % or less
Upon a finding of substantial need, the legislative
authority of a taxing district other than the state may
provide for the use of a limit factor under this chapter
of one hundred one percent or less. In districts with
legislative authorities of four members or less, two-
thirds of the members must approve an ordinance or
resolution under this section. In districts with more than
four members, a majority plus one vote must
approve an ordinance or resolution under this section.
The new limit factor shall be effective for taxes
collected in the following year only.
L -.
ilk-
RCW 84,52.020 — City & District
Budgets to Be Filed With CLA.
It shall be the duty of the city council or other governinq
body of every city, other than a city having a population of
three hundred thousand or more, the board of directors of
school districts of the first class, the superintendent of each
educational service district for each constituent second-class
school district, commissioners of port districts, commissioners
of metropolitan park districts, and of all officials or boards of
taxing districts within or coextensive with any county required
by law to certify to the county legislative authority(CLA), for the
purpose of levying district taxes, budgets or estimates of the
amounts to be raised by taxation on the assessed valuation of
the property in the city or district, through their chair and clerk,
or secretary, to make and file such certified budget or
estimates with the clerk of the county legislative authority on or
\�,; before the +h„+,o+h d", of nl.,vow,hor fifth of December.
Pro -posed Ordinance
Proposed Levy is the lower of 1 % and rate of Inflation (IPD)
Public Hearing —
November 3, 2015
November 17, 2015
First Reading of the Ordinance
November 17, 2015
Second Reading of the Ordinance & Certification of the levy
December 1, 2015
This Ordinance will be certified and sent by December 4, 2015
2015 Property Tax Breakdown
iY A
00.
N�.
Property Tax Rate Comparison
Years
Federal
Kent
Auburn
Burien
Renton
Seattle
SeaTac
Way
2004
1.30
2.85
2.88
1.45
3.33
3.60
2.82
2005
1.27
2.94
2.87
1.47
3.23
3.59
2.80
2006
1.22
2.80
2.73
1.60
3.12
3.38
2.77
2007
1.14
2.56
1.48
1.10
2.88
3.43
2.61
2008
1.04
2.36
1.49
1.39
2.62
3.07
2.45
2009
0.97
2.18
1.49
1.26
2.37
2.86
2.34
2010
1.13
2.36
1.82
1.52
2.71
3.23
2.58
2011
1.20
1.48
1.93
1.56
2.83
3.36
2.80
2012
1.30
1.57
2.08
1.60
3.10
3.58
2.88
2013
1.42
1.69
2.10
1.60
3.10
3.29
3.10
2014
1.40
1.65
2.17
1.60
3.15
3.05
3.10
2015
1.25
1.58
2.08
1.59
2.83
2.62
3.16
2016*
1.19
Preliminary
9
0
2015 �ities' Property Tax Rates
SeaTac 3.16
Seattle 2.62
Renton 2.83
Bu rie n 1.59
Auburn 2.08
Kent 1.58
FEDERAL WAY 1.25
0 1 2 3 4
9
Council Action:
Consider 1 St Reading of 2015
Property Tax Levy Ordinance
for 2016.
Questions ?
Thank You!