Resolution 1033RESOLUTION NO. 1033
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
EDMONDS, WASHINGTON, FINDING THE EXISTENCE OF
SUBSTANTIAL NEEDS AND JUSTIFYING INCREASING
THE PROPERTY TAX LEVY FOR THE CITY REGULAR
PROPERTY TAX LEVY FOR 2003 AT A RATE OF 2.5%
OVER THE PREVIOUS YEAR AND JUSTIFYING
INCREASING THE EMERGENCY MEDICAL SERVICE TAX
LEVY FOR 2003 AT A RATE OF 1 % OVER THE PREVIOUS
YEAR. THIS INCREASE OF CITY REGULAR PROPERTY
TAXES OVER THE 2002 LEVY EQUATES TO A RATE
EQUAL TO 2.5% OR $188,379. THIS INCREASE OF THE
CITY EMERGENCY MEDICAL SERVICE PROPERTY TAX
EQUATES TO A RATE EQUAL TO 1 % OR $15,770.
WHEREAS, Chapter 84.55 RCW requires cities in excess of 10,000 in
population, following public hearing and by separate resolution to find and determine the
existence of a substantial need in order to justify tax increases above the Implicit Price Deflator,
and
WHEREAS, the City Council enters these findings following public hearing prior
to raising tax rates, now, therefore,
THE CITY COUNCIL OF THE CITY OF EDMONDS, WASHINGTON,
HEREBY RESOLVES AS FOLLOWS:
Section 1. The City Council hereby determines in accordance with the
requirements of Chapter 84.55 RCW that unmet substantial needs exist which justify a 2.5%
increase of the 2003 levy for the City's regular property tax levy and a 1 % increase of the 2003
levy for the City's emergency medical services levy. The increase of its regular property tax levy
over 2002 equals 2.5% or $188,379 and the increase of its emergency medical services property
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tax levy over 2002 equals 1% or $15,770 based on the following substantial needs for budget
year 2003:
The City has lost substantial revenues due to the elimination of
motor vehicle excise tax, sales tax equalization funds and State
back fill funding. In addition, the City's sales tax revenues are
declining in response to the regional economic decline.
Section 2. In establishing the tax levies set forth in paragraph 1, the City Council
exercises its authority to utilize banked levy capacity pursuant to RCW 84.55.015 and 84.55.092,
to the extent necessary to justify increases that might otherwise be in excess of the tax limit
factor.
Section 3. This resolution has been enacted by a vote of the majority plus one of
the City Council. It is the City Council's intent, by enacting this resolution, to reserve to itself
the ability to levy in this, or any future budget cycle pursuant to RCW 84.55.015 and 84.55.092,
the full levy amount permitted by law.
RESOLVED this 26th day of November, 2002.
APPROVED:
MA R, G HAAKENSON
ATTEST/AUTHENTICATED:
W&GJ a , an
FILED WITH THE CITY CLERK: 11/26/2002
PASSED BY THE CITY COUNCIL: 11/26/2002
RESOLUTION NO. 1033
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