Title
Public Hearing for the Proposed 2017 Property Tax Levy for the City of Lee's Summit, Cass and Jackson Counties, Missouri, for the Calendar Year 2017.
Body
Issue/Request:
Public Hearing - Tax Levy for the City of Lee's Summit, Cass and Jackson Counties, Missouri, for the Calendar Year 2017.
Key Issues:
Consideration and setting 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 calendar year 2017 (Fiscal Year 2018).
The Assessed Valuations received from Cass County and Jackson County for Calendar Year 2017 show a net increase in assessed valuations of previously assessed property for Calendar Year 2017 compared to Calendar Year 2016 of approximately $108,010,475 or 5.84 per cent. The Reassessment Net Growth exceeded the increase in the Consumer Price Index set by the State Tax Commission (2.1%), which requires the tax levies to be lowered to compensate for the additional increase in assessed valuations of previously assessed property.
Jackson County usually provides a revision to the Assessed Valuations in mid-September, and, as of the date of the creation of this packet form a revised amount for 2017 has not yet been received.
Proposed City Council Motion:
I move to direct staff to draft an Ordinance establishing the tax levies of
$0.8860 for the General Fund per $100 of assesses valuation,
$0.1567 for the Parks and Recreation Fund per $100 of assessed valuation, and
$0.4697 for the Debt Service Fund per $100 of assessed valuation, for Calendar Year 2017 for a combined total of $1.5124 per $100 of assessed valuation.
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 Jackson County Assessor provide the assessed values for all property located within the City limits, and, state statutes require the ...
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