Agenda Date: 10/20/2020
Subject:
Title
Ordinance 35-2020: An ordinance on second reading establishing the tax levy of 2.0 mills to defray the costs of municipal government of the City of Littleton, Counties of Arapahoe, Douglas, and Jefferson, State of Colorado, for the City’s Fiscal Year beginning January 1, 2021 and ending December 31, 2021
Body
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Prepared by: |
Stacey Covington, Budget Analyst |
PURPOSE:
Does city council support the proposed 2020 tax (mill) levy ordinance for the City of Littleton, to be collected in 2021?
PRESENTATIONS:
Staff Presenter(s): Tiffany Hooten, Finance Director
Additional Presenter(s): N/A
SUMMARY:
City council reviewed the 2021 proposed budget during study sessions held on September 8, 9, and September 24. The property tax mill levy rate remains the same as last year at 2.0 mills.
PRIOR ACTIONS OR DISCUSSIONS:
City council reviewed the 2021 proposed budget during study sessions held on September 8, September 9, and September 24.
ANALYSIS:
Staff Analysis
Property taxes represent 4% of General Fund revenues that fund city operations.
Council Goal, Objective, and/or Guiding Principle
The 2021 budget includes property tax revenues which are directly connected to both Goal 1: Envision Littleton and Goal 2: Financial Sustainability by providing the mechanism to fund services provided by the city. It also fully supports all guiding principles.
Fiscal Impacts
Property taxes represent 4% of General Fund revenues that fund city operations. The amount estimated in 2021 for property tax revenues is $1,931,115.
STAFF RECOMMENDATION:
Staff recommends approval of the ordinance on second reading for 2020 tax (mill) levy to be collected in 2021.
PROPOSED MOTION:
Proposed Motion
I move to approve the ordinance establishing the tax levy of 2.0 mills to defray the costs of municipal government of the City of Littleton, Counties of Arapahoe, Douglas, and Jefferson, State of Colorado, for the City’s Fiscal Year beginning January 1, 2021 and ending December 31, 2021.