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TO: Mayor Thomas J. Weisner
FROM: Brian W. Caputo, Chief Financial Officer/City Treasurer
DATE: November 16, 2015
SUBJECT:
2015 Special Service Area Property Tax Levies.
PURPOSE:
The city has established numerous SSAs within its corporate boundaries for a variety of purposes. Some of these SSAs are "active" and SSA property taxes are levied in support of their purposes. Eight of the active SSAs are 34-series SSAs whose tax levies have been pre-established by the City Council's passage of ordinances related to the payment of principal and interest on the Series 2006 and 2012D Refunding Debt Certificates. The remaining SSAs are "dormant." Generally, the city has established the dormant SSAs as a contingency to enable the city to undertake focused stormwater management projects should the need arise.
BACKGROUND:
The city has established numerous SSAs within its corporate boundaries for a variety of purposes. Some of these SSAs are "active" and SSA property taxes are levied in support of their purposes. Eight of the active SSAs are 34-series SSAs whose tax levies have been pre-established by the City Council's passage of ordinances related to the payment of principal and interest on the Series 2006 and 2012D Refunding Debt Certificates. The remaining SSAs are "dormant." Generally, the city has established the dormant SSAs as a contingency to enable the city to undertake focused stormwater management projects should the need arise.
DISCUSSION:
Attached as Exhibit 1 is a schedule summarizing the proposed 2014 property tax levies for the active SSAs, other than those pertaining to the 34-series SSAs. The changes in the SSA levies will be as follows:
SSA 24, Eagle Point. This levy is being increased by $1,000 to accommodate the request of the subdivision's homeowners association to increase the annual SSA levy to compensate for inflation.
While not addressed in the attached SSA property tax levies, the total SSA property tax le...
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