Title
AN ORDINANCE SETTING THE TAX LEVY FOR THE YEAR 2016 FOR THE CITY OF LEE'S SUMMIT, CASS AND JACKSON COUNTIES, MISSOURI
Body
Issue/Request:
AN ORDINANCE SETTING THE TAX LEVY FOR THE YEAR 2016 FOR THE CITY OF LEE'S SUMMIT, CASS AND JACKSON COUNTIES, MISSOURI
Key Issues:
Consideration of the tax levies for the General Fund; Parks and Recreation Fund; and, Debt Service Fund for the City of Lee's Summit, for the 2016 Calendar Year (Fiscal Year 2017).
The City experienced a slight net decrease in Assessed Valuation for property that was assessed in both 2015 and 2016 of approximately ($2,657,893) (0.15%), with new growth in Assessed Valuation in 2016 of $54,426,900 (3.0%), resulting in a net increase in assessed valuation of $51,769,007. The decrease in previously Assessed Valuation from 2015 to 2016, will allow the tax levies to be increased to compensate for the decrease in assessed valuation of previously assessed property.
Proposed Committee Motion:
I move to recommend to the City Council approval of AN ORDINANCE SETTING THE TAX LEVY FOR THE YEAR 2016 FOR THE CITY OF LEE'S SUMMIT, CASS AND JACKSON COUNTIES, MISSOURI
Background:
Each year, the City Council must set the tax levies to be applied to property within the City limits for the General Fund, the Parks and Recreation Fund, and the Debt Service Fund. The Cass County Assessor and the Jackson County Assessor provide the assessed values for all property located within the City limits, and, state statutes require the City Council to set the tax levies by October 1 of each year. Once the tax levies are set, the levies are forwarded to the County Clerks of Cass and Jackson Counties, who certify the levies and forward them to the State Auditor's Office for final certification. Once the tax levy rates are certified by the State Auditor's Office, the tax levy rate is applied to the properties within the City limits, and the resulting tax amounts are forwarded by the respective County Clerk to the Co...
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