Title
ADOPTION OF RESOLUTION EXPRESSING THE PROPERTY TAX POLICY OF THE SEDGWICK COUNTY BOARD OF COUNTY COMMISSIONERS WITH RESPECT TO FINANCING THE ANNUAL BUDGET FOR 2016.
Presented by: Lindsay Poe Rousseau, Budget Director.
RECOMMENDED ACTION: Adopt the Resolution.
Body
As applied to Sedgwick County, State statute 79-2925b(a) states that a resolution is necessary when a levy of property taxes to fund the 2016 budget exceeds the levy of property taxes to fund the 2015 budget, as adjusted to reflect changes in the Consumer Price Index for All Urban Consumers (CPI-U) for calendar year 2014 (1.6%).The statute also calls for a variety of adjustments to be included in this calculation, including increases in property valuations related to new improvements, changes in the use of property, changes in the levy related to debt service, and increases in personal property.
Per KSA 79-2925b, if the Commission intends to adopt a budget with a property tax levy that is greater than the computed limit, a funding resolution must be adopted prior to the budget being adopted. The 2016 recommended budget includes a property tax levy that is only slightly less than the amount that would trigger the resolution requirement. Adoption of this resolution gives the Commission flexibility to adopt a budget with a property tax levy that is greater than the levy in the 2016 recommended budget, not to exceed the maximum published in the notice of public hearing, if it so chooses.
Should the budget actually be adopted with a property tax levy that is greater than the computed limit, statute directs that notice of such vote shall be published in the official County newspaper.
Financial Considerations:
Legal Considerations: This resolution is drafted pursuant to KSA 79-2925b and is in accordance with a sample resolution draft provided by the Kansas Department of Administration. Pursuant to KSA 79-2925 et seq., the County is required to adopt a budget. Approval of this resolution re...
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