2022/11/09 Council Agenda Packet

`EVERETT City Council Agenda Item Cover Sheet Project title. An Ordinance levying the Regular Property Taxes for the City of Everett for Fiscal Year Commencing January 1, 2023, on all Taxable Property both Real and Personal, Subject to Taxation Thereon Council Bill # CB 2211-44 Agenda dates requested: 11-2-22 — 1st Reading 11-9-22 — 2nd Reading 11-16-22- 3'd & Final Reading Briefing X Proposed action Consent Action Ordinance X Public hearing 11/2 Open 11/16 Close X Yes No Budget amendment: Yes X No PowerPoint presentation: X Yes No Attachments: Ordinance Department(s) involved: Finance Contact person: Susy Haugen Phone number: 425-257-8612 Email: shaugen@everettwa.gov Initialed by: Department head Administration Council President Consideration: Property Tax Ordinance Project: N/A Partner/Supplier : N/A Location: N/A Preceding action: N/A Fund: General Fund and Emergency Medical Services Fund Fiscal summary statement: The 2023 property tax levy estimate is $39,996,849.46, plus amounts made available from new construction, annexations, and refund levies. The Ordinance includes a one percent increase in the regular levy, which equals $396,008.41. Project summary statement: In order to establish the annual property tax levies for the General Fund, City Council must adopt an ordinance that identifies the levy amount, and both the dollar increase and percentage increase over the prior year's levy. As a matter of practice, we estimate the amounts to be used and ask the Assessor to determine and use the correct rates for property taxes. Recommendation (exact action requested of Council): Adopt an Ordinance levying the regular property for the City of Everett for fiscal year commencing January 1, 2023, on all taxable property, both real and personal, subject to taxation thereon.