Agenda Date: 10/19/2021
Subject:
Title
Ordinance 26-2021: 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, 2022 and ending December 31, 2022
Body
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Prepared by: |
Tiffany Hooten, Finance Director |
PURPOSE:
Does city council support the proposed 2021 tax (mill) levy ordinance for the City of Littleton, to be collected in 2022?
PRESENTATIONS:
Staff Presenter(s): Tiffany Hooten, Finance Director
Additional Presenter(s): N/A
SUMMARY:
City council reviewed the 2022 proposed budget during study sessions held on September 11 and 28, 2021. The property tax mill levy rate remains the same as last year at 2.0 mills.
PRIOR ACTIONS OR DISCUSSIONS:
City council reviewed the 2022 proposed budget during study sessions held on September 11 and September 28, 2021.
This ordinance passed on first reading on October 5, 2021.
ANALYSIS:
Staff Analysis
Property taxes represent 4% of General Fund revenues that help fund city operations.
Council Goal, Objective, and/or Guiding Principle
The 2022 budget includes property tax revenues which are directly connected to Goal 2: Financial Sustainability by providing the mechanism to fund services provided by the city and Goal 8: Good Governance. It also fully supports all guiding principles.
Fiscal Impacts
Property taxes represent 4% of General Fund revenues that help fund city operations. The amount estimated in 2022 for property tax revenues is $2,137,571. This estimate has been revised from the original 2022 proposed budget amount of $1,969,737.
Alternatives
N/A
STAFF RECOMMENDATION:
Staff recommends approval of the ordinance establishing the 2021 tax (mill) levy to be collected in 2022.
PROPOSED MOTION:
Proposed Motion
I move to approve Ordinance 26-2021 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, 2022 and ending December 31, 2022.