HomeMy WebLinkAboutSubstitute 50-17 Budget- Levying Taxes and Fixing the Taxation Rate for 2018 4 OUT"BF
rr:Act: j
1865
CITY OF SOUTH BEND PETE BUTTIGIEG, MAYOR
DEPARTMENT OF ADMINISTRATION AND FINANCE
September 19, 2017 Filed in Clerk's Office
Mr. Tim Scott SEP 2 0 2017
President, South Bend Common Council
4th Floor County-City Building KA�IEEMAI-i FOWLER
�
227 W. Jefferson Blvd. CITY CLERK,SOUTH BEND,IN
South Bend, IN 46601
Re: Substitute Bill No. 50-17-- Ordinance Levying taxes and fixing the rate of Property
Taxation to meet City Expenses for the fiscal year ending December 31, 2018
Dear Council President Scott:
Attached is a substitute Bill No. 50-17 fixing the property tax rate for the City of South Bend for
the fiscal year commencing January 1, 2018 and ending December 31, 2018. This tax rate will
apply for property tax assessments in fiscal 2017 with taxes payable in fiscal 2018.
This bill was originally filed with tax rates left blank. The attached substitute bill inserts
estimated property tax rates. The final property tax rates for each municipality in the State of
Indiana are determined by the Department of Local Government Finance (DLGF) as part of the
"1782" budget review process which, according to the state budget calendar, must be
completed in February, 2018. The actual property tax rates will depend on the 2017/pay 2018
net assessed valuation of property in South Bend.
First reading on this Bill having taken place on August 28, 2017, this substitute is being
submitted for 2nd reading and public hearing at the council meeting on September 25, 2017, with
3 d reading and council vote at the council meeting on October 9, 2017.
I will be available to discuss this bill at the appropriate sessions of the Personnel and Finance
Committee and other meetings of the South Bend Common Council.
Respectfully submitted,
,�3 c6m4�)
Jennifer C. Hockenhull
City Controller
Substitute Bill No. 50-17
ORDINANCE NO.
AN ORDINANCE OF THE CITY OF SOUTH BEND, INDIANA, LEVYING TAXES
AND FIXING THE RATE OF TAXATION FOR THE PURPOSE OF RAISING
REVENUE TO MEET THE NECESSARY EXPENSES OF THE CIVIL CITY
OF SOUTH BEND FOR THE FISCAL YEAR ENDING
DECEMBER 31, 2018
STATEMENT OF PURPOSE AND INTENT
It is necessary to pass this Ordinance in order to levy taxes and fix the rate of
taxation for the purpose of raising revenue to meet the necessary expenses for 2018.
Originally this ordinance was filed with tax rates left blank. Estimated property tax
rates have been inserted. The final property tax rates for each municipality in the State of
Indiana are determined by the Department of Local Government Finance (DLGF) as part
of the "1782) budget review process which, according to the state budget calendar, must
be completed in February 2018. Actual property tax rates will depend on the 2017/pay
2018 assessed valuation of property in South Bend.
NOW, THEREFORE, BE IT ORDAINED BY THE COMMON COUNCIL OF
THE CITY OF SOUTH BEND, INDIANA, AS FOLLOWS:
SECTION I. There shall be levied upon each One Hundred Dollars of Assessed
Valuation of Taxable Property of the City of South Bend, Indiana, for the fiscal year
2017 to be collected in the year 2018 the following:
For CORPORATION GENERAL FUND, the sum of$3.6684 on each one
hundred dollars of Taxable Property.
For PARK AND RECREATION FUND,the sum of$0.8631 on each one
hundred dollars of Taxable Property.
For CUMULATIVE CAPITAL DEVELOPMENT FUND,the sum of$0.0405 on
each one hundred dollars of Taxable Property.
Total Civil City Rate$4.572
For REDEVELOPMENT BOND (COLLEGE FOOTBALL HALL OF FAME),
the sum of$0.0863 on each one hundred dollars of Taxable Property.
Total Redevelopment Rate $0.0863
SECTION II. This Ordinance shall be in full force and effect from and after its
passage by the Common Council and approval by the Mayor.
Member of the Common Council
Attest:
City Clerk
Presented by me to the Mayor of the City of South Bend, Indiana on the
day
of , 2 , at o'clock . m.
Deputy City Clerk
Approved and signed by me on the day of ,
2 , at
o'clock M.
Mayor, City of South Be d jn erk's Office
1 st READING SEP 2 0 2017
PUBLIC HEARING
3 rd READING
NOT APPROVE[` KAr,EEPJlA�H FOWLER
F O ?RFD CITY CLERK,S01ji-(BE N10.IIt