HOMER,
Stark, Shadle
ORDINANCE 07-15
AN ORDINANCE OF THE
WHEREAS, The City of Homer has previously set its property tax rate for Fiscal Years 2006 and 2007 at 4.50 mills; and
WHEREAS, Since that time assessed values in Homer for Fiscal Year 2006 increased twenty two percent so that a Mill Rate of 4.00 would have brought in excess of the amount budgeted with a mill rate of 4.50; and
WHEREAS, This Council voted in May by a 4-3 vote not to lower the 2006 mill rate to 4.00, resulting in an end of year surplus of almost one million dollars; and
WHEREAS, This means that not only would a lower mill rate have brought in the budgeted amount, but with the 4.50 rate the citizens paid more that they expected and more than many of them could afford; and
WHEREAS, The City is basking in a substantial increase in revenue, and a further increase of seven percent in the assessed value of the City, including sales tax revenue greater than budgeted; and
WHEREAS, If the hospital bond issue passes, the Borough will raise the mill rate between 0.70 and 0.98 mills; and
WHEREAS, The responsibility of a municipal corporation is to take from the citizens only what it needs to perform its services, knowing that the citizens are the wisest stewards of their finances and will supply what the City truly needs.
Section 1. That the property tax rate (mill rate) for Fiscal Year 2007 is hereby set at 4.00 mills.
Section 2. This ordinance is a budget amendment, is not of a permanent nature, and is a non-code ordinance.
PASSED
____________________________
JAMES
C. HORNADAY, MAYOR
ATTEST:
______________________________
JO JOHNSON,
Introduction:
Public Hearing:
Second
Effective Date:
Ayes:
Noes:
Abstain:
Absent:
Reviewed and approved as to form and content:
___________________________
__________________________
Date: ______________________ Date: _____________________
Fiscal Note: Decrease in revenues based on 2006 assessments
$251,484.