Ordinance 3936-23 - Laserfiche WebLink

ORDINANCE Page 2 of 4 NOW, THEREFORE, THE CITY OF EVERETT DOES ORDAIN: Section 1. Section 5 of Ordinance 3582-17, as previously amended by Section 2 of Ordinance 3783- 20, is hereby further amended as follows: Levy of Special Assessment. To finance programs and services authorized in Section 3, there is levied and shall be collected an annual special assessment upon the buildings and other real property within the District (and the owners thereof), as follows: The annual assessment shall use land square footage and assessed value. Seventy-five percent (75%) of the annual BIA revenue shall be based on land square footage of each individual property within the geographical limits of the BIA and twenty- five percent (25%) of the annual BIA revenue shall be based on the assessed value of each individual property within the geographical limits of the BIA. The amount of the 2021 annual assessment for each property shall be $0.14 per$ 1,000 of assessed value per the Snohomish County Assessor, plus $ 0.09 per land square foot. With the exception of Snohomish County property, the amount of the 2022 assessment and each subsequent annual assessment through 2025 shall be based on the previous year's assessment amount for each property and multiplied by either 3%, or multiplied by the June-to-June percent change in the Consumer Price Index— Urban (CPI- U) for the Seattle, Tacoma, Bellevue area, whichever is greater. The amount of each of the 2023, 2024, and 2025 assessments shall be based on the previous year’s assessment amount for each property multiplied by either (A) one plus the June-to-June percent change in the Consumer Price Index—Urban (CPI-U) for the Seattle, Tacoma, Bellevue, with such percent change capped at five percent or (B) one plus three percent, whichever of (A) and (B) is greater. Properties which have already had levied upon them an assessment up to July 1, 2018, under the old BIA established under Ordinance No. 2842- 05, or levied an assessment for those properties partially within that old BIA, shall be assessed only at a pro- rated amount such that they will not be double- assessed up to July 1, 2018. Transfer of assets and assumption of liabilities for the BIA established under Ordinance No. 2842- 05 to the BIA established under this ordinance is detailed in Section 22 herein. Section 2: Section 6 of Ordinance 3582-17, as previously amended by Section 3 of Ordinance 3783- 20, is hereby further amended as follows: Calculation of Assessments. A.The initial assessment and subsequent annual assessments showing the rate of the special assessment, the land square footage and assessed value on which it is calculated, and the total assessment for each separate ownership, shall be mailed to the owner or reputed owner whose name appears as the owner on the tax rolls of the Snohomish County Assessor and at the address for such owner as shown on the tax rolls of the Snohomish County Assessor or the records of the City of Everett. Assessments on multifamily residential properties,