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HomeMy WebLinkAbout06917ORDINANCE NO. 6917 AN ORDINANCE LEVYING AND CERTIFYING THE CITY OF PUEBLO'S PROPERTY TAX MILL LEVY MADE IN 2002 FOR THE 2003 BUDGET YEAR WHEREAS, the City of Pueblo's budget for fiscal year 2003 has been prepared and approved in accordance with the provisions of Article 7 of the Charter of the City of Pueblo, and WHEREAS, the 2002 net assessed valuation of all taxable property in the City of Pueblo as certified by the Pueblo County Assessor is $559,835,520 and WHEREAS, the maximum allowed property tax revenue for fiscal year 2003, as adjusted for amounts estimated to be uncollected, pursuant to section 20(7)(c) or Article X of the Colorado Constitution is estimated to be $8,444,738. 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 2003 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 A temporary tax credit expressed in mill levy equivalents of .549 mills is hereby approved and certified in order to meet the requirements of section 20 (7) (c) of Article X of the Colorado Constitution for fiscal year 2003. SECTION 3 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 Temporary Property Tax Credit - .549 mills Net Mill Levy 15.084 mills SECTION 4 The City Clerk is hereby directed to deliver a certified copy of this Ordinance, together with a Certificate of Tax Levies, form DLG 70 (Rev. 8/99), properly completed by the Assistant City Manager for Fiscal Operations, to the County Commissioners of Pueblo County, Colorado, and the Division of Local Government immediately after passage of this Ordinance. SECTION 5 This Ordinance shall become effective upon final passage. INTRODUCED November 11, 2002 BY Al Gurule Councilperson -;;e APPROVED: resident of City Council ATTEST: City Ckb PASSED AND APPROVED: November 25. 2002