Title
AN ORDINANCE SETTING THE TAX LEVY FOR THE YEAR 2017 FOR THE CITY OF LEE'S SUMMIT, CASS AND JACKSON COUNTIES, MISSOURI; AND, CONTAINING AN EMERGENCY CLAUSE.
Body
Issue/Request:
AN ORDINANCE SETTING THE TAX LEVY FOR THE YEAR 2017 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 2017 Calendar Year (Fiscal Year 2018).
The City experienced a net increase in Assessed Valuation for property that was assessed in both 2016 and 2017 of approximately $115,449,668 (+6.23%), with new growth in Assessed Valuation in 2017 of $29,733,278(1.61%), resulting in a net increase in Assessed Valuation from 2016 to 2017 of $85,716,390 on previously assessed property. The increase in previously Assessed Valuation from 2016 to 2017, will require the levies for the General Fund, and, Parks and Recreation Fund to be decreased to compensate for the increase in assessed valuation of previously assessed property, over the statutorily allowed increase for the CPI adjustment of 2.1%.
Proposed City Council Motion:
FIRST MOTION: I move for Second Reading of AN ORDINANCE SETTING THE TAX LEVY FOR THE YEAR 2017 FOR THE CITY OF LEE'S SUMMIT, CASS AND JACKSON COUNTIES, MISSOURI; AND, CONTAINING AN EMERGENCY CLAUSE.
SECOND MOTION: I move for adoption of AN ORDINANCE SETTING THE TAX LEVY FOR THE YEAR 2017 FOR THE CITY OF LEE'S SUMMIT, CASS AND JACKSON COUNTIES, MISSOURI; AND, CONTAINING AN EMERGENCY CLAUSE.
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 yea...
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