HomeMy WebLinkAbout1984-053-03/20/1984-DIRECTING STAFF TO COMMIT TO DECREASING THE CITYS PROPERTY TAX MILL LEVY RESOLUTION 84-53
OF THE COUNCIL OF THE CITY OF FORT COLLINS
DIRECTING STAFF TO COMMIT TO DECREASING THE
CITY'S PROPERTY TAX MILL LEVY
WHEREAS, the City Council raised the 1984 Property Tax mill levy
primarily to compensate for the drop in revenue base resulting from the
Colorado Legislature' s passage of Constitutional Amendment, Article 10,
Section 3, effective December 30, 1982, which caused changes in assessed
valuations used in property tax computations; and
WHEREAS, the City Council concurrently passed Resolution 83-174
adopting a 1984-1985 Tax Reform Program, directing staff to research the
possibilities of implementing new, and/or modifying existing, taxing
mechanisms; and
WHEREAS, the City Council has passed a Lodging Tax and is currently
holding a public hearing on a possible Admission Tax; and
WHEREAS, the City' s voters will determine at the May 1, 1984 election
if increases in the City' s Sales & Use Tax rate should be implemented, to
provide additional revenue to the City.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT
COLLINS:
Section 1. That the City Council declares its desire to reduce the
City' s Property Tax mill levy over the coming five-year period, if other
City revenues are sufficient to permit such a reduction.
Section 2. That the City Council directs staff to develop financial
projections , estimating the effect of the passage of proposed new or
additional taxes, as may be approved by the City' s voters at the May 1,
1984 election.
Section 3. That the City Council further commits to reducing the
City' s Property Tax mill levy based on additional revenues to be generated
by voter-approved increases in the City' s Sales & Use Tax rate. Any funds
generated by such additional Sales & Use Taxes, which are in excess of
identified General City Capital needs, should be utilized to reduce the
mill levy during the City' s five year financial projection period.
Passed and adopted at a regular meeting of the Council of the City of
Fort Collins held this 20th day of M A. D. 1984.
May
ATTEST:
City clerk