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Ordinance No. 00432

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City Council meeting minutes of Dec 18 2006

ORDINANCE NO. 432

AN ORDINANCE of the City Council of the City of Lakewood, Washington, relating to ad valorem property taxes; establishing the amount to be raised in 2007 by taxation on the assessed valuation of the property of the City; and setting the property tax levy rate for 2007.

WHEREAS, the City Council of the City of Lakewood has met and considered its budget for the calendar year 2007; and,

WHEREAS, the district?s actual levy amount from the previous year was $5,520,662; and,

WHEREAS, the population of this district is more than 10,000; and,

NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF LAKEWOOD, WASHINGTON DO ORDAIN as follows:

SECTION 1. Increase in the Regular Property Tax Levy An increase in the regular property tax levy is hereby authorized for the levy to be collected in the 2007 tax year.

SECTION 2. Percentage Increase The dollar amount of the increase over the actual levy amount from the previous year shall be $55,206.62 which is a percentage increase of 1% from the previous year. This increase is exclusive of additional revenue resulting from new construction, improvements to property, newly constructed wind turbines, any increase in the value of state assessed property, any annexations that have occurred and refunds made.


SECTION 3. Effective Date. That this Ordinance shall be in full force and effect five

(5) days after publication of the Ordinance as required by law.

ADOPTED by the City Council this 18th day of December, 2006.

CITY OF LAKEWOOD

_____________________________________

Claudia B. Thomas, Mayor

Attest:

_______________________________

Alice M. Bush, MMC, City Clerk

Approved as to Form:

_______________________________

Heidi Ann Wachter, City Attorney