CITY OF MOSES LAKE

REVENUE SOURCES FOR CITY'S 2016 CURRENT EXPENSE BUDGET

PUBLIC HEARING NOTICE

REVENUE SOURCES FOR CITY'S 2016 CURRENT EXPENSE BUDGET

SETTING PROPERTY TAX LEVY

The City Council shall meet on October 27, 2015 at 7 p.m. in the Council Chambers pursuant to RCW 84.55.120 and hold a public hearing on revenue sources for the City's 2016 current expense budget and on the estimated amount of property taxes to be received from assessed valuations on property within the City of Moses Lake. "Current expense budget" means that budget which is primarily funded by taxes and charges and reflects the provision of on-going services. "Current expense budget" does not mean the capital, enterprise, or special assessment budgets of the City. The hearing shall include consideration of possible increases in property tax revenues. The proposed 2015 property tax levy for collection in 2016 is $15,000,000, which is the amount levied in 2014 for collection in 2015, plus an increase of 1.00% on the maximum tax rate allowed by law which is an estimated increase of $102,230 plus an increase equal to the amount allowed under the new construction provisions of RCW 84.55.010, any increase due to the annexation of new territory and any increase in the value of state-assessed utility property. After the October 27, 2015 public hearing the City Council shall consider the first reading of ordinances setting the 2016 property tax levy. The City Council shall then meet on November 10, 2015 at 7 p.m. in the Council Chambers and consider the second reading of an ordinance setting the 2016 property tax levy.

Dated: October 9, 2015

W. Robert Taylor

Finance Director

#11006/4722755

Pub.: October 19 & November 2, 2015