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HomeMy WebLinkAbout1995-06-12 95-274 ORDER_COUNCIL ACTION Date June 12, 1995 Item No. 95-274 item/Subject: Establishing the Amount of the Tax Rate and Overlay for the 1995 Fiscal Year for the Bangor Center Development District Responsible Department: Community S Economic Development Commentary: The attached Council order establishes an assessment rate of $0.51, the assessment rate needed to raise the $43, 000requested to fund the Bangor Center Management Corporation based on an estimated total assessed value of District property of $83,288,200. It also establishes an overlay rate of $0.02 per $1,000 of valuation for a total a entrate of $0.53 per $1,000 of valuation. This rate is unchanged from PY 95. Manager's Comments: Associated Information:04k, Finance Director Legal Approval:/ City Solicitor JL Passage _ First Reading Page 1 of Referral 95-274 Aaigud to Counedor Woodcock June. 12, 1995 CITY OF BANGOR (TITLE.) (®rber Establishing the Mount of the Tax Rate and Overlay for the 1996 Fiscal Year for the Bangor _Center Development District By tAs City Cown1 eJtM Cfq'N¢aMor: ORDBREDo MT all real property in the Bangor Center Development District, subject to taxation, shall be assessed at a rate of $0.51 per $1,000 of valuation; and be it further ORDERED, THAT an Overlay in the amount of $0.02 per $1,000 is hereby assessed upon said real property. IN CITY COUNCIL June 12, 1995 Public Nearing Opened: No Comments were Heard Public Hearing Closed: 95-276 O RUER Title, Establishing the Assort of the Tax Fate add'd:edier'for'i"'Md 'MM liiii'tor the Bangor Center Development District .....�...'.,.M.'.yn.....�....,. e. -`.....A....... l�✓u �IO�Ww Aw'igndn to n ....T...!. kUA?c.:eac .......... Councilman