Item Coversheet
City of Independence
AGENDA ITEM COVER SHEET
BILL NO. 20-509Ord.No:          19160
Agenda Title:

20-509 - 1R.  An ordinance levying a tax on all real property subject to taxation on January 1, 2020, within the corporate limits of the City of Independence, Missouri, for General Revenue and Public Health and Recreation purposes, and for the Independence Square Special Business Benefit District; said levies and assessments being separate and distinct, all for the fiscal year commencing on the 1st day of July, 2020, and ending on the 30th day of June, 2021, and declaring an emergency.
Recommendations:

Staff recommends approval of this ordinance.
Executive Summary:

Based on tax calculators through the State Auditor’s Office, the recommended tax levies are as follows per $100 of assessed valuation:

                -General Revenue: $0.4337

                -General Revenue Recoupment: $0.0198

                -Public Health & Recreation: $0.2043

                -Public Health & Recreation Recoupment: $0.0094

                -Total: $0.6672

                -Independence Square Special Business Benefit District: 0.5826

The total levy rate for 2019 was 0.6078.

 

The tax levies are increasing as a result of the decrease in assessed valuation on real property in the City that was approved by the Jackson County Board of Equalization after the City was required to approve the 2019 tax levy.  The 2020 tax levy includes an amount which represents the recoupment of taxes not collected in 2019.

Background:

Tax levies are based on assessed valuations approved by the County Board of Equalization.  Since Independence is located in both Jackson and Clay Counties, the City must file its tax levies with the County Clerks of each jurisdiction by October 1st.

Detailed information regarding the tax levy setting process and the assessed valuations used to arrive at these tax levy rates are attached.
Emergency Justification:

The tax levies are required to be certified to the Counties by October 1, 2020. 

Fiscal Impact:

The tax revenue is projected as part of the FY2020-2021 Operating Budget.

 


Department:          FinanceContact Person:          Bryan Kidney

REVIEWERS:
DepartmentAction
Finance DepartmentApproved
Finance DepartmentApproved
City Managers OfficeApproved
City Clerk DepartmentApproved
Council Action:          Council Action:         
ATTACHMENTS:
DescriptionType
2019 RecoupmentOrdinance
OrdinanceOrdinance