ORD 2003-40 2004 PROPERTY TAX LEVY ORDINANCE NO. 2003-40
AN ORDINANCE of the City of Bainbridge Island, Washington, relating
to the levy of property taxes for the City of Bainbridge Island; for the
fiscal year commencing January 1, 2004, on all real and personal property
within the City that is subject to taxation; levying both general property
taxes for the purpose of providing sufficient revenue to carry on the
normal activities of the City as required by law, and special levy taxes as
authorized by the voters in the November 6, 2001 election.'
WHEREAS, the City Council of Bainbridge Island has considered the financial
requirements of the City for 2004 as set forth in the Mayor's Preliminary Budget, and the
amounts necessary and available to be raised by ad valorem taxes on real, personal, and
utility property which are included thc, cia; and
WHEREAS, the City Council has properly given notice of the public hearing
held on October 22, 2003, to consider the City's revenue sources for the City's 2004
current expense budget; and
WHEREAS, the City Council after hearing and duly considering all relevant
evidence and testimony presented, has determined 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 2003 as authorized by RCVv' 84.55.005, in addition to the increase resulting
from the addition of new construction and improvements to property and any increase in
the value of state-assessed property, in order to discharge the expected expenses and
obligations of the City and in its best interest; and
WHEREAS, at an election held on November 6, 2001, the voters of the City
approved and authorized the City to issue general obligation bonds to finance the costs of
acquiring and preserving forested areas, open space, wildlife habitat, and farms and
agricultural lands and creating new trails and passive parks, and to levy excess property
taxes to repay such bonds (referred to as "2002 Unlimited Tax General Obligation
Bonds"); and
WHEREAS, the debt service on such bonds for the year 2004 will be $414,008;
now, therefore
THE CITY COUNCIL OF ~ CITY OF BAINBRIDGE ISLAND, DOES
ORDAIN AS FOLLOWS:
Ordinance 2003-40, 2004 Property Tax Levy
Approved by City Council 11/12/03
Section 1. The 2003 regular property tax levy for collection in 2004 is declared
to be $5,182,222 (the amount levied in 2002 for collection in 2003) plus an increase of
$51,182, which is an increase of one and no one-hundredths (1.00) percent, plus an
increase equal to the amount allowed under the new construction provisions of RCW
84.55.010 and any increase in the value of state-assessed property.
Section 2. In addition to City's regular property tax levy described in Section 1
above, there is levied for collection in 2004, upon all property, both real and personal
within the City and within the area subject to taxation, a total voter-approved special levy
property tax in the amount of $414,008. to pay the 2004 debt service on the City's 2002
Unlimited Tax General Obligation Bonds.
Section 3. This ordinance shall be certified to the proper Kitsap County officials,
as provided by law. The taxes levied in this ordinance shall be collected and paid to the
Director of Finance and Administrative Services of the City of Bainbridge Island at the
time and in the manner provided by the laws of the State of Washington for the collection
of taxes for non-charter code cities.
Section 4. This ordinance shall take effect and be in force five days after its
passage, approval and publication as required by law.
PASSED by the City Council this 12~h day of November, 2003.
APPROVED by the Mayor the 13th day of November, 2003.
AT ST/AUTHENTICATE:
SUSAN P. KASPER, City C
APPROVED AS TO FORM:
ROD P. KASEGUMA, City Attorney
FILED WITH THE CITY CLERK September 30, 2003
PASSED BY THE CITY COUNCIL November 12, 2003
PUBLISHED: November 22, 2003
EFFECTIVE DATE: November 27, 2003
ORDINANCE NO: 2003-40
Ordinance 2003-40, 2004 Property Tax Levy
Approved by City Council 11/12/03