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HomeMy WebLinkAbout2013-06-10 13-204 ORDERCOUNCIL ACTION Item No,13-2q4, a Date: June 10, 2013 Item/Subject ORDER, Establishing the Amount of the Tax Rate and Overly for the 2014 Fiscal Year for the Bangor Center Development District Responsible Department: Community & Economic Development Commentary: This Order would establish an assessment rate of $0.51 for next year, the same rate since FY 1992. This rate would provide $55,542 towards the Bangor Center Management Corporation/Downtown Bangor Partnership Development Program for July 1, 2013 through June 30, 2014, based on a total Bangor Center Development District assessed value of $108,905,800. It also establishes an overlay rate of $0.02 per $1,000 of valuation for a total assessment rate of $0.53 per $1,000 of'valuation. This rate is unchanged from FY 2013. This item was reviewed and recommended for approval by the Business & Economic Development Committee at its June 4, 2013 meeting. Manager's Comments: Associated Information: Budget Approval: Legal Approval: Introduced for X Passage First Reading Referral Rosie Vanadestine Department Head -'cky—m�nager nance Director J& City Solicitor Page _ of 13-204 JUNE 10, 2013 Assigned to. Councilor Sprague CITY OF BANGOR (TITLE.) ORDER, Establishing the Amount of the Tax Rate and Overlay for the 2014 Fiscal Year for the Bangor Center Development District BE IT ORDERED BY THE CITY COUNCIL OF THE CITY OF BANGOR THAT 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 herely assessed upon said real property. IN CITY COUNCIL June 10, 2013 Motion made and seconded for Passage Passed or CITY CL