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HomeMy WebLinkAboutResolution-2005-0057 - RESOLUTION NO. 57 Series of 2005 TITLE: A RESOLUTION LEVYING A MILL LEVY OF 1.786 ON GENERAL PROPERTY TAXES FOR THE YEAR OF 2005, TO HELP DEFRAY THE COSTS OF GOVERNMENT FOR THE CITY OF WHEAT RIDGE, COLORADO FOR THE 2006 BUDGET YEAR WHEREAS, the City Council of the City of Wheat Ridge adopted the 2006 annual budget on October 10, 2005 in accordance with the Local Government Budget Law. and, WHEREAS, the amount of money necessary to balance the budget for general operatmg purposes from real property tax revenue IS $707,633, and, WHEREAS, the Local Government Budget Law requires certdicatlOn of the annual property tax mill levy by December 15,2005, and, WHEREAS, the total net assessed valuatlon of all taxable property subject to taxatIOn for the year of2005 IS $396,211,440 and, WHEREAS, the City for the fiscal year 2005 has determined to levy 1 860 mills on all taxable property wlthm the City; and WHEREAS, such levy will cause the revenues to the City to exceed the limitations set forth m SectIOn 20 of Article X of the ConstltutlOn of Colorado (The Taxpayers Bill of Rightsl TABOR by approximately $29,320; and WHEREAS, the City has determmed to comply with the TABOR property tax revenue limit by applymg a temporary null levy reduction of 0074 mills for a total levy of 1. 786 mills on all taxable property wlthm the City, and NOW, THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WHEAT RIDGE: A. That for the purpose of meetmg all general operatmg expenses ofthe City of Wheat Ridge durmg the 2006 budget year, there IS hereby leVied a tax of 1 786 mills, after a temporary mill levy reductIOn of 0074 mills, placed upon each dollar of the total valuatlOn of all taxable property within the City of Wheat Ridge for the year 2005 B That the Mayor of the City of Wheat Ridge IS hereby authorized and directed to Immediately certify to the County CommisslOners of Jefferson County, Colorado the mill levy for the City of Wheat Ridge as herem above determmed and set DONE AND RESOLVED THIS / J-~day of ~ 2005 ---- . ;' ,( l ,_ -, i; ,_ " ".' v " J J !\ ..4/ '.'11 \_ Jerrk mr0lio, Mayor ATTEST - ^ " I \ II .