Title
Approval of Resolution Setting the 2018 Olympia Metropolitan Park District (OMPD) Ad Valorem Tax
Recommended Action
Board Treasurer Recommendation:
Move to approve the OMPD Ad Valorem Tax and authorize board members to sign the Resolution.
Report
Issue:
Whether to set the OMPD Ad Valorem Tax amount.
Staff Contact:
Dean Walz, OMPD Board Treasurer, 753.8465
Presenter(s):
Dean Walz, OMPD Board Treasurer, 753.8465
Background and Analysis:
The Olympia Metropolitan Park District (OMPD) is required to adopt a property tax levy resolution and file a levy certification with the County by November 30, 2017.
A public hearing on revenue sources, including property tax, was held on November 14, 2017. The proposed OMPD 2018 revenue only includes property tax. Notice of the hearing was published on October 31, 2017 and November 7, 2017. The levy is based on the budget, which includes amounts to be paid to the City of Olympia and administrative costs.
The proposed levy amount is $3,612,744. Based on the most current assessed valuation of the District the projected levy rate per $1,000 is $0.54.
Neighborhood/Community Interests (if known):
N/A
Options:
1. Approve and sign the Ad Valorem Tax Resolution in the amount of $3,612,744.
2. Do not approve the Ad Valorem Tax Resolution.
Financial Impact:
Provides $3,612,744 in property tax revenue to the District.
Attachments:
Resolution