Body
Department of Finance
Reference: Resolution Setting City Mill Levy 2015
To: Mayor Richard N. McLean and Members of City Council
Through: Manuel Esquibel, City Manager
Prepared By: Dan Frelund, Finance Director
Date Prepared: October 9, 2015
PURPOSE:
To approve resolution setting the property tax mill levy for 2015 at 6.65 mills.
BACKGROUND/HISTORY:
The City Council has adopted the 2016 Budget, and the amount of money necessary to balance the budget for general operating purposes from property tax revenue is $2,176,850.
Preliminary net assessed values by the Adams and Weld County Assessors are $319,244,770 and $8,096,710, respectively.
The mill levy of 6.65 will be certified to both Adams and Weld Counties and collected as general property taxes in 2016.
CRITERIA BY WHICH COUNCIL MUST CONSIDER THE ITEM:
Any increase to the mill levy requires a public vote.
BUDGET IMPACT:
The General Fund budget will be balanced if the $2,176,850 property tax revenue is used.
OPTIONS FOR COUNCIL’S CONSIDERATION:
Staff is not recommending any change to the mill levy.
ATTACHMENTS
Resolution