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HomeMy WebLinkAbout10327 ORDINANCE NO. 10327 AN ORDINANCE LEVYING AND CERTIFYING THE CITY OF PUEBLO PROPERTY TAX MILL LEVY MADE IN 2022 FOR THE 2023 BUDGET YEAR WHEREAS, the City of Pueblo’s budget for fiscal year 2023 has been prepared and approved, and WHEREAS, the 2022 net assessed valuation of all taxable property in the City of Pueblo as certified by the Pueblo County Assessor is $1,207,310,633, and WHEREAS, the property tax revenue for the fiscal year 2023 is estimated to be $18,573,887; NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF PUEBLO, that: SECTION 1. For the purpose of meeting the general operating expenses of the City of Pueblo during the 2023 Fiscal Year, there is hereby made, set and levied a tax of 15.633 mills upon each dollar of the total assessed valuation of all taxable property located within the City of Pueblo on the assessment date. SECTION 2. The City Council of the City of Pueblo does hereby certify to the County Commissioners of Pueblo County, Colorado the following mill levy imposed by this Ordinance upon each dollar of the total valuation for assessment of all taxable property located within the City of Pueblo on the assessment date: Gross Mill Levy 15.633 mills SECTION 3. The City Clerk is hereby directed to deliver a certified copy of this Ordinance, together with a Certificate of Tax Levies, form DLG 70, properly completed by the Director of Finance, to the County Commissioners of Pueblo County, Colorado, and the Division of Local Government immediately after passage of this Ordinance. SECTION 4. All increases to the City of Pueblo’s net fund balance shall constitute and be considered “reserve increases” and therefore a part of the City of Pueblo’s 2023 fiscal year spending. All 2023 year-end balances shall constitute and be considered “reserves” and all subsequent expenditures and transfers from such reserves shall be excluded from the City of Pueblo’s fiscal year spending within the meaning of Article X, Section 20 (2)(e) of the Colorado Constitution. SECTION 5. The officers and the staff of the City are authorized to perform any and all acts consistent with the intent of this Ordinance to implement the policies and procedures described herein. SECTION 6. This Ordinance shall become effective on the date of final action by the Mayor and City Council. Action by City Council: Introduced and initial adoption of Ordinance by City Council on November 14, 2022. Final adoption of Ordinance by City Council on November 28, 2022 . President of City Council Action by the Mayor: ☒ Approved on December 5, 2022 . □ Disapproved on based on the following objections: _ Mayor Action by City Council After Disapproval by the Mayor: □ Council did not act to override the Mayor's veto. □ Ordinance re-adopted on a vote of , on □ Council action on _______ failed to override the Mayor’s veto. President of City Council ATTEST City Clerk City Clerk's Office Item # R1 Background Paper for Proposed Ordinance November 14, 2022 COUNCIL MEETING DATE: TO: President Heather Graham and Members of City Council CC: Mayor Nicholas A. Gradisar VIA: Marisa Stoller, City Clerk FROM: Nicholas Gradisar, Mayor SUBJECT: AN ORDINANCE LEVYING AND CERTIFYING THE CITY OF PUEBLO PROPERTY TAX MILL LEVY MADE IN 2022 FOR THE 2023 BUDGET YEAR SUMMARY: The attached Ordinance sets the mill levy for the property tax to be assessed and collected for use in the 2023 budget. PREVIOUS COUNCIL ACTION: None. BACKGROUND: For the purpose of meeting the general operating expenses of the City of Pueblo during the 2023 Fiscal Year this Ordinance will impose a mill levy upon real property located within the City of Pueblo. FINANCIAL IMPLICATIONS: The levy is set at 15.633 mills, which is the same as 2022. It is estimated to generate $18,573,887 in property tax, this amount is net of estimated uncollectible taxes. The assessed value, as provided by the Pueblo County Assessor, is $1,207,310,633. BOARD/COMMISSION RECOMMENDATION: Not applicable. STAKEHOLDER PROCESS: Not applicable. ALTERNATIVES: Not applicable. RECOMMENDATION: Approval of this Ordinance. ATTACHMENTS: None