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Record No: CB 118567    Version: 1 Council Bill No: CB 118567
Type: Ordinance (Ord) Status: Passed
Current Controlling Legislative Body City Clerk
On agenda: 11/23/2015
Ordinance No: Ord 124929
Title: AN ORDINANCE relating to the levy of property taxes; fixing the rates and/or amounts of taxes to be levied, and levying the same upon all taxable property, both real and personal, in The City of Seattle, to finance the departments and activities of City government and to provide for the general obligation bond interest and redemption requirements for the year beginning on the first day of January 2016; ratifying and confirming certain prior acts; and, by a vote of a majority plus one of the Seattle City Council, finding a substantial need to use, and providing for the use of, 101% as the regular property tax limit factor.
Sponsors: Nick Licata
Attachments: 1. Summary and Fiscal Note
Supporting documents: 1. Signed Ord 124929
CITY OF SEATTLE
ORDINANCE __________________
COUNCIL BILL __________________
title
AN ORDINANCE relating to the levy of property taxes; fixing the rates and/or amounts of taxes to be levied, and levying the same upon all taxable property, both real and personal, in The City of Seattle, to finance the departments and activities of City government and to provide for the general obligation bond interest and redemption requirements for the year beginning on the first day of January 2016; ratifying and confirming certain prior acts; and, by a vote of a majority plus one of the Seattle City Council, finding a substantial need to use, and providing for the use of, 101% as the regular property tax limit factor.
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BE IT ORDAINED BY THE CITY OF SEATTLE AS FOLLOWS:
Section 1. General Municipal and Firefighters' Pension.
A. There is levied a tax on all taxable property, both real and personal, within The City of Seattle and subject to taxation under the laws of the State of Washington in the amount of $569,673,920, which is calculated as $3.60 per $1,000 of estimated assessed value of all taxable property in the city. This tax is levied for the purpose of raising revenue to finance the various departments and activities of the municipal government of The City of Seattle for the fiscal (calendar) year 2016. The following sentence is provided for information only. This levy has been calculated at the following dollar rates per $1,000 of assessed value: $3.375 for general municipal purposes as allowed by RCW 84.52.043 (which includes up to $0.225 for the Firemen's Pension Fund as allowed by RCW 41.16.060); and $0.225 for general municipal purposes and the Firemen's Pension Fund as allowed by RCW 41.16.060. This levy includes an amount of $100,000 or the highest lawful amount as the King County Assessor may certify, whichever is higher, to recover amounts refunded within the preceding 12 months. This levy also includes an amount of $20,714,286 for ...

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