HomeMy WebLinkAbout24-2464 Property Taxes Forgone YR 2025 CITY OF MERIDIAN RESOLUTION NO. 24-2464
BY THE CITY COUNCIL: CAVENER,LITTLE ROBERTS, OVERTON,
STRADER, TAYLOR,WHITLOCK
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MERIDIAN DECLARING
THE INTENT TO COLLECT $504,546 OF FORGONE PROPERTY TAXES IN FISCAL
YEAR 2025 FOR THE SPECIFIC PURPOSE OF FUNDING FIREFIGHTER PERSONNEL
EXPENSES; SETTING A PUBLIC HEARING ON AUGUST 20, 2024, AND PROVIDING
NOTICE THEREOF; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, Idaho Code section 50-235 authorizes the City Council to levy taxes for
general revenue purposes; and
WHEREAS, Idaho Code section 50-1002 requires the City Council to pass an annual
budget, which is referred to as an annual appropriation ordinance; and
WHEREAS, Idaho Code section 63-802 sets limitations on all taxing district budget
requests concerning the amount of property tax revenue that can be used to fund programs and
services; and
WHEREAS, Idaho Code section 63-802(1)(a) authorizes each taxing entity to increase
property tax budget amounts by a maximum of three percent(3%), plus an amount calculated based
on the value of both new construction and annexations added during the previous calendar year,
plus an amount for forgone property taxes; and
WHEREAS,the City Council intends to collect $504,546 of forgone property taxes in
Fiscal Year 2025 for the specific purpose of funding firefighter personnel expenses; and
WHEREAS, Idaho Code section 63-802(1)(e)(i) requires the City Council to provide notice
concerning its intent to collect forgone property taxes and hold a public hearing.
NOW, THEREFORE,BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF MERIDIAN, IDAHO:
Section 1. That the City of Meridian intends to collect $504,546 of forgone property taxes
in Fiscal Year 2025 for the specific purpose of funding firefighter personnel expenses.
Section 2. That a public hearing shall be held on August 20, 2024, concerning the City's
intent to collect said forgone property taxes.
Section 3. That notice of said public hearing shall be provided as required by Idaho law.
Section 4. That this resolution shall be in full force and effect immediately upon its
passage.
RESOLUTION DECLARING INTENT TO BUDGET FORGONE PROPERTY TAXES PAGE I
ADOPTED by the City Council of the City of Meridian, Idaho, this 23rd day of July, 2024.
APPROVED by the Mayor of the City of Meridian, Idaho, this 23rd day of July, 2024.
APPROVED:
Robert E. Simison, Mayor
ATTEST:
By:
Chris Johnson, City Clerk
RESOLUTION DECLARING INTENT TO BUDGET FORGONE PROPERTY TAXES PAGE 2