MEASURE NO. 24-21

City of Sublimity

Ballot Title:

Referred to the People by the City Council

Five-Year Local Option Tax

Question: Shall the City of Sublimity levy $1.55 per $1,000 of assessed value for police and 9-1-1 costs. The proposed levy will be imposed over a period of five years. This measure may cause property taxes to increase more than three percent.

Summary: This measure would increase the City of Sublimitys property tax rate for five years. The city would use the revenue to pay for public safety costs, including police and 9-1-1 emergency services. The owner of a $100,000 home would pay $155 per year more in property taxes if the temporary levy is approved.

The permanent tax rate would remain at $0.7116 per $1,000 tax assessed value. The temporary levy would add $1.55 per $1,000, to bring the total rate to $2.2616 per $1,000. The additional rate would be in effect from July 1, 1999 through June 30, 2004.

The city estimates the amount of taxes to be raised in each year the tax will be imposed as follows: $120,778 in fiscal year 1999-2000; $123,667 in fiscal year 2000-01; $126,626 in fiscal year 2001-02; $129,656 in fiscal year 2002-03; and $132,758 in fiscal year 2003-04. If the tax rate raises more than this estimated amount, the excess revenue would be treated as a budget resource for the following fiscal year.