HomeMy WebLinkAbout1991-06-24 91-258 ORDEROatsJune�1991 Item No. 91-258
Establishing the Amount of the Tax Rate and
Item/Subject: overlay for the 1992 Fiscal Year for the Bangor
Center Development District
Responsible Department: Community and Economic Development
Commentary:
The attached Council Order established an assessment rate of
$0.9499, the assessment rate needed to raise the $84,892
requested to fu" the Bangor Center Management Corporation based
on an estimated total assessed value of District property of
$89,365,000. It also establishes an overlay rate of $0.0401 per
$1,000 0£ valuation for a total assessment rate of $0.9900 per
$1,000 of valuation. _
A summary, of the Corporation's annual budget, District
assessed values and District assessment rates for the prior 4
years and the proposed 1991-1992 fiscal year is attached.
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Manager's Comments:
Associated Information:
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Butlget APProv I:�
Dim
Legal Approval:
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Introduced For
Passage Page_ of
First Reading
❑Referral
91-258
Ae®pied to Cowe0m Frenkel, June 24, 1991
CITY OF BANGOR
(TITLE.) (Darr,
Establishing the Amount of the Tax Rate and Overlay
for the 1992 Fiscal Year for the Bangor Center Development District
BYIAe Cittl Cousail ejW lilts WBaayar:
ORDSIMo
TUT all real property in the Bangor Center Development
District, subject to taxation, shall be assessed at a rate of
$0.9499 per $1,000 of valuation; and be it further
ORDERED, THAT an Overlay in the amount of $0.0401
per $10000 is hereby assessed upon said real property.
In City Council June 24.1991
Public Rearing was held
Vote for Passage
5 yes 2 No 2 Absent
voting yes
BCagg,Frankel.Saxl.Sosnaud.
Sullivan
Voting No
Baldaccl.Cohen
Abstaining Sawyer.Stone
C Mr
C ty Clerk
91-258
0'R NER
Title,
Batebllehlnp the Amount of the Tex
Rate and overlay for the 1992 Fiscal
.................................... 4.
year for the Bangor Center Development
District
Assigned to
......
r ..... ..
Councilman
PROPOSED FUNDING BANGOR CENTER DEVELOPMENT DISTRICT CITY FY 1992
BUDGETS / SPECIAL ASSESSMENTS / CITY PARTICIPATION
JULY 1. 1991 10 JUNE 9q 1992
08/18"'1
08:61 AM PROPOSED %
CITY FY 1992 CITYFY1991 GRANGE
-BUDGETS / SPECIAL ASSESSMENTS / CITY PARTICIPATION
JULY 1, 19U June B9, 1992
FILE:DEVDIS92 18 -Jun -91