| | | | | | | | | City of Independence | | AGENDA ITEM COVER SHEET |
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| | | | | | | | | BILL NO. 22-078 | Ord.No: 19374 |
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| | | | | | | | Agenda Title:
22-078 - 2R. An ordinance levying a tax on all real property subject to taxation on January 1, 2022, 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, 2022, and ending on the 30th day of June, 2023. |
| | | | | | | | Recommendations:
Staff recommends approval of this ordinance. |
| | | | | | | | Executive Summary:
Proposed property tax rates to be set by the City of Independence for the fiscal year beginning July 1, 2022, based on the current assessed valuation by Jackson and Clay Counties, must be considered by Ordinance before certification to the Counties. |
| | | | | | | | Background:
The City’s budget was adopted with Ordinance #19340 by City Council on June 21, 2022. In order for the County to levy tax rates, the City must first certify the amount needed for the City’s budget. A notice of public hearing to hear citizens on the property tax was published August 25, 2022 using preliminary tax levy rates based on the prior year assessed valuation due to the final assessed valuation from the Jackson County Clerk not received prior to the required public hearing notice date. The following rates have been revised to reflect the final assessed valuation.
Tax levies are based on assessed valuations approved by the County Board of Equalization. Per RsMo 67.110, each political subdivision located, at least partially, within a county with a charter form of government or within a city not within a county shall fix its ad valorem property tax rates as provided in this section not later than October first.
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Fiscal Impact:
The City's 2022-23 adopted budget includes property taxes of $8,661,275:
Fund Amount
General Fund (002) $ 5,903,000.00
Health & Animal Levy (005) $ 881,500.00
Parks Health & Recreation Levy (007) $ 1,876,775.00
Total $ 8,661,275.00
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| | | | | | | | | Department: Finance & Administration | Contact Person: Cindy Gray |
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| REVIEWERS: | | Department | Action | | Finance Department | Approved | | Finance Department | Approved | | City Managers Office | Approved | | City Clerk Department | Approved |
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| Council Action: | Council Action: |
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