Ordinance 3936-23 - Laserfiche WebLink

ORDINANCE Page 3 of 4 including condominiums, which are subject to a Home Owner’s Association (HOA) shall be assessed based on the multifamily residential property as a whole and mailed to the HOA. Subsequent annual assessments, with the applicable rate, land square footage and assessed value, and total assessment for each separate ownership, may be sent by ordinary mail or delivered by the City to the owner or reputed owner as shown on the records of the City, and if no address is shown there, to the address shown in the tax records of the Snohomish County Assessor. It will be presumed that ownership and the address of any owner or reputed owner remains the same as at the time of mailing of the initial annual assessment unless the City receives written notice of a change in the address of the owner to which the assessment notice is to be mailed. Duplicate notices will be mailed upon request of the owner to the owner’s named representative at the address given in such written request of the owner. The amount of the 2021 annual assessments shall be calculated as set forth in the Section 5 of this ordinance. follows: $0.14 per $1,000 of assessed value of the property per the Snohomish County Assessor, plus $0.09 per land square foot of the property. The amount of the 2022 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. B. In the event the annual budget approved is greater or less than the funds which will be available from the total of all assessments within the District for such annual period, calculated at the assessment rates as set forth in Section 5 of this ordinance, then such rates shall be budget shall be, as determined by City Council under Section 20 of this ordinance, reduced to match the revenue. adjusted on a pro rata basis in an amount which, when multiplied by the total assessable land square footage and assessed value in the District, will produce a total sum equal to the approved total budget amount for the annual period for which the special assessment is being made. Any unexpected and unobligated budgeted amount remaining at the end of any annual assessment period, and any assessments or funds collected and deposited in the District Fund in excess of the amount authorized to be expended for the annual assessment period in which such excess amounts are received may be expended as may be authorized by the next annual BIA budget approved by the City Council, or as may be authorized by amendment to the current annual budget pursuant to Section 20 of this ordinance. Section 3. The following is provided for reference and may not be complete: Section of this Ordinance Previous Ordinance History 1 (Ord. 3582-17 § 5, 2017; Ord. 3783-20, § 2, 2020.) 2 (Ord. 3582-17 § 6, 2017; Ord. 3783-20, § 3, 2020.)