HomeMy WebLinkAbout10529-17 Levying Taxes and Fixing the rate of Taxation for Fiscal Year ending December 31, 2018 ORDINANCE NO . 10529-17
Passed by the Common Council of the City of South Bend, Indiana
October 9, 20 17
Attest: _ — City Clerk
Attest: President of Common Council
Presented by me to the Mayor of the City of South Bend, Indiana
October 10, 20 17
Clerk
Approved and signed by me 20
Mayor
Substitute Bill No. 50-17
ORDINANCE NO. 05-2 q-I"
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 I1. 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 C rk
Presented by me to the Mayor of the City of South Bend, Indiana on the
Oth day
of 'cl ck Wt-m
Deputy City C(e
Approved and signed by me on the //*- day of 6 P UAX/)
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Mayor, Ci SLeBer d, ika a�� Clerk's �ifice
1 st READING ����{� SEP 2 0 2017
PUBLIC HEARING
3 rd READING 10(611 In KAREITA H FOWLER
NOT APPROVEC CITY CLERK,SOI„►TIj REND,IN
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