Agenda Date: 10/06/2015
Subject:
Title
Ordinance on second reading establishing the tax levy of 6.662 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, 2016 and ending December 31, 2016
Body
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Presented By: |
Doug Farmen, Finance Director |
POLICY QUESTION:
Does council support the proposed 2015 tax (mill) levy ordinance for the City of Littleton (to be collected in 2016)?
BACKGROUND:
The mill levy rate remains the same as last year at 6.662 mills.
STAFF ANALYSIS:
Property taxes represent 8% of General Fund revenues that fund the city’s operations.
FISCAL IMPACTS:
The tax (mill) levy provides for the assessment and collection of property taxes. The estimated amount of property tax revenues in the 2016 proposed budget was $4,670,580. The certified amount of $4,758,580 is $88,000 greater than the proposed budget estimate.
STAFF RECOMMENDATION:
Staff recommends approving the 2015 tax (mill) levy ordinance on second reading.
PROPOSED MOTION:
Proposed Motion
I move to approve on second reading the ordinance establishing the tax levy of 6.662 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, 2016 and ending December 31, 2016.