ORD 2010-37 LEVY OF PROPERTY TAXES
A~ ~RD~11iA1~ of the City of Bainbridge Island, washingtan, relating
to the levy of property taxes for the City of Bainbridge Island, for the fiscal
yeah commencing January ~ , Z~ ~ ~ , an all real and personal property within,
the City that is subject to taxation; levying bath general property taxes far
the purpose of ~ra~iding sufficient revenue to carry on the narinal
activities of the City required by law, and special levy taxes as
autl~ori~ed by the voters in the No~en~ber ~, ~a~1 electzan~
wI~~R.~, the City Council of Bainbridge Island has considered the finacxal
requirements of the City far ~a I l as set forth in the City tanager's ~ropo~ed
1~nrzei~drrients to the ~ I ~ Bndo~•ed Budget, and the amounts necessary and available to
be raised by ad ~ralorem taxes on real, personal, and utility property which are included
th~reln; and
w~~1A, the City Council has properly given natlce of the public hearing
held an October ~7, X010 to consider the City's revenue sources for the City's X011
Crenetal Fund budget; and
wHEIA, the City C~unc~l after hearing and duly considering all relevant
evidence and testimony presented, has deterrriined that the City requires an increase in
property tax revenue from the previous year equal to one percent of the amount levied for
collection in ~~11 as authorised by RCw ~4,~,aDS, in addition to the increase resulting
frOn1 the addition of new construction and lmpraveients t~ property end any increase in
the value of state~assessed property, in order to discharge the expected expenses acid
obligations of tl]e City and In Its best interest; a~ld
w~~~A, at an election held on N~overnber ~, Zak 1, the voters of the City
approved and authorised the City to issue general obligation bonds to finance the costs of
acquiring and preer~ing forested areas, open space, wildlife habitat, and farms ar~d
agricultural lands and creating new trails aril passive parks, and to levy excess property
taxes to repay such bands preferred to as the "~Oa nlirriited Tax general Obligation
Bonds'' and the `~nlimite General Obligation Bands, 00~~'}; and
w~ER~A, the debt service on such bonds fox the year ~aI1 will be $537,aa;
now, therefore,
TAE YTS` ~~I~IL F TIC ~T~ ~~ BAINBD~ ~~AN~D, ~0~
ORI]~~N ~C]~B~w f
section 1. The ~~ 1 ~ regular property tax levy for collection in X011 is declared
to be $x,51 x,324 plus an increase of G4,S48 which is an increase of one and no one-
hundredths ~l.aa~ percent, plus an increase equal to the amount allowed under the new
cantruction pro~riians of RCw 84,5,01 ~ ~$~'7,a47} and any increase in the value of
state~a~ssessed property, and any additional naaunt resulting from any ~•ef~uad made
~~,~'}. The tetal is ~,~~,~~~.
ectYOr~ 2. In addition to pity's regular property tai levy described rn etlan 1
above, there is levied far collection in 2D11, upon all property, both real and personal
ithln the City and ~th~n the area subject to taatlan, a pater-approved special levy
property tax in the amount of ~5~7,4~ to pay the ~0~~~ debt service on the lty' ~~~
and ~~~~ ~Jnlinaited Tai general obligation Eands,
section This ordinance shall be certified to the proper litsap bounty of~~cials,
as prodded by la~ The tapes le~ried in this ordinance shall be collected and paid to the
Director of finance and Adnainistrati~re er~~ccs of the 1ty of Balnbr~dge island at the
5
tirr~e aid in the manner pra~ided by the lames of the tote of'ashington for the collection
oftaxes for non«char~er code cities.
section 4, This ordinance shall take effect and h in farce ~~e ~} days after its
passag# approval and p~blicatian a reoluired by la~vf
PAED by the pity council dais ~ 7t~' day of No~embe~", ~~ ~ ~;
A.PP~~B~ by the 11~ayar the 17~~ day of No~rr~ber, ~~ t ~.
~~ .~
~~! /r Li w`µF~j' ~~M~57 _yt~
~f ;~ -'~
Bob scales, aya~"
ATTE TI~CJTHENTIATE;
~.~
I~osallnd I~. ~,asscff, pity lerk
FILED V~ITH THE ITS LBI~. ~]ctaber ~, ~~ ~ ~
PBD BY THE CITY ~~jJNCIL: No~ernber 17, ~ ~ ~
pI~~LIH~D: Ne~ember ~~, ~~ 1 ~
I~F~BTZ~E I~ATB; I~ecerr~ber 1, 2~ 1 ~
~II)~N~NCE N~ ~ ~~ 1 ~-37