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HomeMy WebLinkAboutResolution-2003-0031 - RESOLUTION NO. 31 Series of 2003 TITLE: A RESOLUTION LEVYING GENERAL PROPERTY TAXES FOR THE YEAR OF 2003, TO HELP DEFRAY THE COSTS OF GOVERNMENT FOR THE CITY OF WHEAT RIDGE, COLORADO FOR THE 2004 BUDGET YEAR WHEREAS, the City Council of the City of Wheat Ridge adopted the 2004 annual budget on September 8, 2003 in accordance with the Local Government Budget Law, and, WHEREAS, the amount of money necessary to balance the budget for gcneral operating purposes from real property tax revenue IS $684,343, and; WHEREAS, the Local Government Budget Law requires certification ofthe annual property tax mill levy by December l5, 2003, and. WHEREAS, the total net assessed valuation of all taxable property subject to taxatIOn for the year of 2003 is $378,927,670 and, WHEREAS, the City for the fiscal year 2003 has determined to levy 1.860 mllls on all taxable property withm the CIty; and WHEREAS, such levy will cause the revenues to the City to exceed the limitations set forth in Section 20 of Article X of the Constitution of Colorado (The Taxpayers Bill of Rights) TABOR by approximately $20,462; and WHEREAS, the CIty has determined to comply with the TABOR property tax revenue limit by applying a temporary mill levy reduction of 0 054 mills to the current mill levy of 1 860 mills on all taxable property within the City; NOW, THEREFORE BE IT RESOLVED BY THE CITY COllNCIL OF THE CITY OF WHEAT RIDGE: A. That for the purpose of meeting all general operating expenses of the City of Wheat Ridge during the 2004 budget year, there IS hereby levied a tax of l.806 mills, after a temporary mill levy reduction of 0 054 mills, placed upon each dollar of the total valuation of all taxable property within the City of Wheat Ridge for the year 2003. B That the Mayor of the CIty of Wheat Ridge IS hereby authorIzed and dIrected to Immediately certify to the County Commissioners of Jefferson County, Colorado the mill levy for the City of Wheat Ridge as herein above determined and set. DONE AND RESOLVED THIS '5{...... day of KJ f'(< P 1M b -"; ~03.