HomeMy WebLinkAbout07692ORDINANCE NO. 7692
AN ORDINANCE LEVYING AND CERTIFYING THE CITY OF PUEBLO'S PROPERTY TAX MILL
LEVY MADE IN 2007 FOR THE 2008 BUDGET YEAR
WHEREAS, the City of Pueblo's budget for fiscal year 2008 has been prepared and
approved in accordance with the provisions of Article 7 of the Charter of the City of Pueblo, and
WHEREAS, the 2007 net assessed valuation of all taxable property in the City of Pueblo as
certified by the Pueblo County Assessor is $696,599,058 and
WHEREAS, the maximum allowed property tax revenue for fiscal year 2008, pursuant to
section 20(7)(c) or Article X of the Colorado Constitution is estimated to be $10,889,933 subject to
adjustment for uncollected amounts. 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
2008 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_
This Ordinance shall become effective upon final passage.
BY Randy Thurston
Councilperson
APPROVED: e!�Ld
ESID NTof City Council
ATTESTED BY:
CITY CLERK
INTRODUCED November 12, 2007
PASSED AND APPROVED: November 26. 2007
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Background Paper for Proposed
ORDINANCE
AGENDA ITEM # 3 1
DATE: NOVEMBER 12, 2007
DEPARTMENT: OFFICE OF THE CITY MANAGER
DAVID J. GALL], CITY MANAGER
DOUGLAS M. FITZGERALD, ASSISTANT CITY MANAGER
TITLE
AN ORDINANCE LEVYING AND CERTIFYING THE CITY OF PUEBLO'S
PROPERTY TAX MILL LEVY MADE IN 2007 FOR THE 2008 BUDGET YEAR
ISSUE
This ordinance sets the mill levy for the property tax to be assessed and collected for use in
the 2008 budget.
Approval of the ordinance.
FINANCIAL IMPACT
The levy is set at 15.633 mills, which is the same as 2007. It is estimated to collect
$10,889,933 of property tax on an assessed value of $696,599,058.