Title
Public Hearing for the Proposed 2018 Property Tax Levy for the City of Lee's Summit, Cass and Jackson Counties, Missouri, for the Calendar Year 2018.
Body
Issue/Request:
Public Hearing - Tax Levy for the City of Lee's Summit, Cass and Jackson Counties, Missouri, for the Calendar Year 2018.
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 2018 (Fiscal Year 2019).
The Assessed Valuations received from Cass County and Jackson County for Calendar Year 2018 show a net increase in assessed valuations of previously assessed property for Calendar Year 2018 compared to Calendar Year 2017 of approximately $34,767,169 or 1.77 per cent. The Reassessment Net Growth is below the increase in the Consumer Price Index set by the State Tax Commission (2.1%), so the tax levies for the General Fund, Parks and Recreation Fund may be set at the same rates as for calendar year 2017. The Debt Service Levy is set based on the debt service required in calendar years 2019 and 2020.
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 2018 has not yet been received.
Proposed City Council Motion:
I move to direct staff to present an Ordinance establishing the tax levies of
$0.8886 for the General Fund per $100 of assesses valuation,
$0.1571 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 2018 for a combined total of $1.5154 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 Asse...
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