HomeMy WebLinkAboutLevying Taxes and Fixing the Rate of Taxation Fiscal Year Ending December 31,1967ORDINANCE NO. 4-877-66
Passed by the Common Council of the City of South Bend,
Presented by me to the Mayor of the City of South Bend,
Approved and signed by
August 30 19
Clerk
of Common Council
Clerk
IDEAL Qjjq9D PRESS
ORDINANCE OF TAX LEVIES
AN ORDINANCE LEVYING TAXES AND FIXING THE RATE OF TAXATION FOR THEj%P0F(rOF� �F
RAISING REVENUE TO MEET THE NECESSARY EXPENSE FOR THE FISCAL YEAW. D' GviP l;l
DECEMBER 31,1967.
Be it Ordained by the Common Council of South Bend, St. Joseph Count}JU&diarlajdi
That:
KATHRYN L BLOUG -
There shall be levied upon each One Hundred Dollars of AssessedCN(ludk440�ty 8-U\!�
Taxable Property of the City of South Bend, Indiana for the fiscal year 1966,
to be collected in the year 1967 the following:
2.027
For GENBdAL FUND, the sum of )§Wk dollars on each one hundred dollars of
Taxable Property.
For GENERAL SINKING'FUND (BOND), the sum of 33.0 cents on each one hundred
dollars of Taxable Property.
For PARK MAINTENANCE FUND, the sum of 40.0 cents on each one hundred dollars
of Taxable Property.
For PARK DISTRICT FUND, the sum of 5_0 cents on each one hundred dollars of
Taxable Property.
For FIREMEN'S PENSION FUND, the sum of 12.5 cents on each one hundred dollars
of Taxable Property.
For POLICEMEN'S PENSION FUND,the sum of 15.2 cents on each one hundred
dollars of Taxable Property.
For HOSPITAL FUND, the sum of 3_0 cents on each one hundred dollars of
Taxable Property.
For ART ASSOCIATION FUND,the sum of 1_0 cents on each one hundred dollars
of Taxable Property.
For REDEVELOPMENT BOND FUND, the sum of 11.7 cents on each one hundred
dollars of Taxable Property,
For REDEVELOPMENT FUND, the sum of 3_0 cents on each one hundred dollars
of Taxable Property.
For BUILDING DEMOLITION REPAIR AND CONTINGENT FUND, the sum of 0_5 cents
on each one hundred dollars of Taxable Property.
For HUMAN RELATIONS AND FAIR EMPLOYMENT PRACTICES COMMISSION FUND, the sum
of 1.0 cents on each one hundred dollars of Taxable Property.
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The proposed 1967 budget upon which the tax rate is
based,
I
I
represents an increase of $536,785 over the 1966
budget.
The major
ingredients causing this increase are:
1. A 5% increase in police and fire wages
and the attendant
increase in retirement expense
j
2. A proposed new fire station
3. A proposed redevelopment bond issue in
the amount
of
$950,000
4. An increase of one -half cent in the tax
levy for
the
art association
5. 1967 city election expenses in the amount of $151,645
The total of these items exeeds the increase reflected in the
budget. This total was materially reduced by reductions in other areas .
that have been affected, including the transfer of the sewer department.
In the initial tax rate computation, unexpended balances as used
do not reflect the total reductions that will occur. Thus, the increase
in the tax rate, which is presently computed at 15.9 cents, will be
materially reduced in the final computation.
The net reduction in tax base of 3 million dollars by virtue of
the exemption of household goods is also an important factor in the
tax levy.
Your administration believes this budget to be a most realistic
proposal to meet the needs of a growing city. The percentage of increase
in this proposed budget, including the rather substantial and much
needed increases of salaries and e
wa es still is less than the
wages,
percentage of increase in. the cost of goods and labor and materials in the
national economy.
V
Lloyd M. Allen
CITY OF SOUTH BEND, INDIANA
TAR VALUATIONS FOR 1967 BUDGET:
South
Bend
$217,428,600.00
South
Bend
- Centre
6,778,050.00
South
Bend
- Clay
2,948,100.00
South
Bend
- German
913,890.00
South
Bend
- Penn
162.250.00
Totals 228,230,890.00
- 1 -
Brines
Brings
1 Mill
2,282.31
15
Cents
342,346.34
2 Mills
4,564.62
20
Cents
456,461.78
3 Mills
6,846.93
25
Cents
570,577.23
4 Mills
9,129.24
30
Cents
684,692.67
5 Mills
11,411.54
35
Cents
798,808.12
6 Mills
13,693.85
40
Cents
912,923.56
7 Mills
15,976.16
45
Cents
1,027,039.01
8 Mills
18,258.47
50
Cents
1,141,154.45
9 Mills
20,540.78
55
Cents
1,255,269.90
1 Cent (10 Mills)
22,823.09
60
Cents
1,369,385.34
2 Cents
45,646.18
65
Cents
1,483,500.79
3 Cents
68,469.27
70
Cents
1,597,616.23
4 Cents
91,292.36
75
Cents
1,711,731.68
5 Cents
114,115.45
80
Cents
1,825,847.12
6 Cents
136,938.53
85
Cents
1,939,962.57
7 Cents
159,761.62
90
Cents
2,054,078.01
8 Cents
182,584.71
95
Cents
2,168,193.46
9 Cents
205,407.80
1.00
Dollar
2,282,308.90
10 Cents
228,230.89
- 1 -
— August 29, 1966
(Qommmtr Report
on toe Qlaw au Couuru of Ot (guy of £ Md# wend-
Your Committee of the Whole
to whom was referred "AN ORDINANCE LEVYING TAXES AND FIXING THE RATE OF TAXATION FOR THE
PURPOSE OF RAISING REVENUE TO MEET THE NECESSARY EXPENSE FOR THE FISCAL YEAR ENDING
DECEMBER 31, 1967 ".
Respectfully report that they have examined the matter and that in their opinion the Ordinance go to the Council
favorable, as amended.
Chairman