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3992 Property Tax COML 2025RESOLUTION NO. 3992 A RESOLUTION 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 MOSES LAKE Whereas, RCW 84.52 requires the governing body of the City of Moses Lake to fix the estimated amount to be raised by taxation on assessed valuation on property within the City of Moses Lake; and, Whereas, the City of Moses Lake’s highest actual levy amount occurred in 2024 and was $10,745,369.26; and Whereas, the City is allowed by law to increase its tax levy by 1% over the highest levy amount it has ever received since 1985, which would establish a limit of $10,852,822.95; and Whereas, the City of Moses Lake’s actual levy amount from the previous year, 2024, was $9,372,175.69; and Whereas, the City intends to levy " banked capacity" of $422,000.00; and Whereas, the City of Moses Lake, has a population of more than 10,000; and Whereas, a Public Hearing was held, with notice duly provided, to consider the City’s current expense budget for the 2025 calendar year pursuant to RCW 84.55.120; and Whereas, the City Council of the City of Moses Lake, after hearing and duly considering all relevant evidence and testimony presented, has determined that the City of Moses Lake requires an increase in real property tax revenue from the previous year, resulting from the limit factor, and an increase of $422,000.00 of banked capacity from the previous year along with the addition of recent annexations, new construction and improvements to property and any increase in the value of state-assessed property and refunds made, in order to discharge the expected expenses and obligations of the City. NOWTHEREFORE, BE IT RESOLVED BY THE CITY OF MOSES LAKE CITY COUNCIL: Section 1. The following increases in the regular property tax levy, over the amount of the previous year’s levy, are hereby authorized to be cumulatively levied for collection in 2025: A. A discretionary increase of $107,454, attributable to the inflation factor which is a percentage increase of 1.0% over the highest amount levied for collection since 1985 which was $10,745,369 in 2024; plus B. An estimated increase of $277,208 for new construction and improvements to property; plus C. An increase authorized by state law for state-assessed property values; plus Document Ref: BC5SU-FA7TV-VMUH8-F9PSM Page 1 of 2 D. An estimated increase of $78,026 due to re-levying for any refunds and cancellations/ supplementals made in the previous year, plus E. An increase of $422,000 of banked capacity from previous years. The discretionary increase and the banked capacity increase will result in an overall increase of 5.649% and a resolution increase amount of $529,454 to be used for calculating page 2 of the levy limitations worksheet. Section 2. There is hereby fixed to be raised by general property taxes upon real and personal property within the City of Moses Lake, for the year of 2025, the sum of $10,206,864 for general municipal purposes, including Firemen’s Relief and Pension. Section 3. The City Clerk is directed to transmit and file a certified copy of this resolution with the Board of Grant County Commissioners and the Grant County Assessor on or before November 30, 2024. Section 4. This resolution shall take effect January 1, 2025. ADOPTED BY THE CITY COUNCIL, and signed and approved this 12th day of November 2024. __________________________________________ Dustin Swartz, Mayor ATTEST: _________________________________ Debbie Burke, City Clerk Document Ref: BC5SU-FA7TV-VMUH8-F9PSM Page 2 of 2 Signature Certificate Reference number: BC5SU-FA7TV-VMUH8-F9PSM Document completed by all parties on: 15 Nov 2024 19:51:07 UTC Page 1 of 1 Signer Timestamp Signature Mayor Dustin Swartz Email: dswartz@cityofml.com Recipient Verification: Sent:14 Nov 2024 22:42:19 UTC Viewed:15 Nov 2024 15:08:16 UTC Signed:15 Nov 2024 15:08:42 UTC ✔Email verified 15 Nov 2024 15:08:16 UTC IP address: 74.82.240.250 Location: Moses Lake, United States Debbie Burke Email: dburke@cityofml.com Recipient Verification: Sent:14 Nov 2024 22:42:19 UTC Viewed:15 Nov 2024 19:50:54 UTC Signed:15 Nov 2024 19:51:07 UTC ✔Email verified 15 Nov 2024 19:50:54 UTC IP address: 63.135.54.162 Location: Moses Lake, United States Signed with PandaDoc PandaDoc is a document workflow and certified eSignature solution trusted by 50,000+ companies worldwide.