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HomeMy WebLinkAbout2010-06-14 10-222 ORDERCOUNCIL ACTION ,s., Item No. Date: .lune 14, 2010 Item/Subject ORDER, Establishing the Amount of the Tax Rate and Overly for the 2011 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 $52,432 towards the Bangor Center Management Corporation/Downtown Bangor Partnership Development Program for July 1, 2010 through June 30, 2011, based on a total Bangor Center Development District assessed value of $102,810,100. 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 2010. Manager's Comments: Associated Information: Order Budget Approval: Director Legal Approval: Introduced for x Passage First Reading Referral Department Head City Manager /, �L,- �i�- - Finance -z�N - ity Solicitor Page _of_ t -2 Assigned to Councilor — Nealley June 14, 2010 CI`T'Y OF BANGOR (TIT�E.) ORDER, Establishing the Amount of the Tax Rate and Overlay for the 2011 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 14, 2010 Motion Made and Seconded for Passage Passed CL RR ORDER (TITLE,) Establishing the Amount of the Tax Rate and Overlay for the 2011 Fiscal Year for the Bangor Center Development District Assigned to Councilor