HomeMy WebLinkAbout2024-033 Ordinance B; Relating to 2025 Ad Valorem Taxes ORDINANCE B
ORDINANCE NO. 2024-033
AN ORDINANCE fixing and levying the amount of ad valorem taxes necessary to discharge
the expected expenses and obligations for the 2025 Budget for the City of
Yakima.
WHEREAS, the City Council finds that the total net amount of $22,497,871 in revenue
must be raised by ad valorem taxes on real and personal property within the corporate limits of
the City of Yakima to discharge the expected expenses and obligations for the 2025 Budget for
the City of Yakima, now therefore,
BE IT ORDAINED BY THE CITY OF YAKIMA:
Section 1. There is hereby fixed to be raised by general property taxes upon real and
personal property within the City of Yakima the amount of$22,497,871 for the following purposes:
General Government Levy
Operating Funds $21,647,871
Firemen's Relief& Pension Fund 850,000
Amount of tax levy for General
Government Purposes (1) $22,497,871
Special Purpose Tax Levy 0
Total Levy Amount (1) $22,497,871
(1) Includes an additional $100,000 to provide for final adjustments in State
assessed, refunds, new construction, and annexation values.)
Section 2. The City Clerk is directed to transmit and file a certified copy of this
ordinance with the Board of Yakima County Commissioners and the Yakima County Assessor on
or before November 15, 2024.
Section 3. Pursuant to Article VI, Section 2 of the Yakima City Charter, this ordinance
shall take effect on November 4, 2024.
PASSED BY THE CITY COUNCIL, signed and approved this 4th day of November, 2024.
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Publication Date: November 7, 2024
Effective Date: November 4, 2024
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BUSINESS OF THE CITY COUNCIL
YAKIMA, WASHINGTON
AGENDA STATEMENT
Item No. 8.D.
For Meeting of: November 4, 2024
ITEM TITLE: Public hearing and Ordinances pertaining to Ad Valorem Taxes
(property tax) to be levied for collection in fiscal year 2025
SUBMITTED BY: *Viren Mayani, Director of Finance and Budget
Kimberly Domine, Financial Services Manager
SUMMARY EXPLANATION:
This item includes two separate Ordinances that support a significant portion of the General Fund.
Ordinance A identifies Council's intent to authorize an increase in the tax levy over 2024 levels. It is
required by RCW 84.55.120. This is legally necessary to increase the 2025 tax collections by any
amount over 2024 levels.
Staff recommends that the Council approve a 1.0% increase in the property tax levy, which is the
maximum increase allowed. Based on last year's General Fund base levy, the increase will be
$216,418.84. Authorization of this increase requires a simple majority vote of the City Council.
Ordinance B fixes the maximum tax levy for collection by the City in 2025. This Ordinance complies with
RCW 35.33.135 and in accordance with Article VII, Section 2 of the City Charter, requires a super-
majority approval (i.e. a minimum affirmative vote of five members) by City Council.
Staff recommends that the Council approve ad valorem taxes in the amount of$22,497,871.16, which is
needed to fund the City's 2025 Biennial budget. Approving ad valorem taxes allows the County
Assessor's Office to levy real and personal property taxes to the full extent allowed under State law.
ITEM BUDGETED: N/A
STRATEGIC PRIORITY 24-25: A Resilient Yakima
RECOMMENDATION: Pass Ordinance A and Ordinance B.
ATTACHMENTS:
Memo-2025 Property Tax Levy.docx
Ordinance A_2025
Memo-2025 Ad Valorem Taxes.docx
Ordinance B_2025
Presentation attachments.pdf
2025 Ad Valorem Property Tax Presentation.pdf
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