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 and setting of hte 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 net decrease in Assessed Valuation for property that was assessed in both 2015 and 2016 of approximately ($2,657,893 or 0.15%), with new growth Assessed Valuation of $54,426,900 (3.00%) being added in 2016. The increase in new growth offset by the decrease on previously assessed property, resulted in an increase in total Assessed Valuation in 2016 of $51,769,007 over the Total Assessed Valuation in 2015. The decrease in previously assessed valuation for property 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 City Council Motion:
First Motion: I move for second reading of AN ORDINANCE SETTING THE TAX LEVY FOR THE YEAR 2016 FOR THE CITY OF LEE'S SUMMIT, CASS AND JACKSON COUNTIES, MISSOURI.
Second Motion: I move for adoption 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 State Auditor's Office for review and certificat...
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