WOULD TAXING DISTRICTS STILL BE REQUIRED TO ADOPT RESOLUTIONS OR ORDINANCES IN ORDER TO INCREASE THEIR LEVIES?
Yes. The 1% levy limit does not change any of the requirements imposed by Referendum 47 with respect to the need for passage of resolutions or ordinances in order for taxing districts to increase their levies. There are different requirements for taxing districts based on the population of the district. A district with a population below 10,000 would need to adopt a resolution/ordinance by a simple majority vote of its governing body to increase its levy by up to one percent. A district with a population over 10,000 could increase their levies by the lesser of the one percent or the rate of inflation, with adoption of a resolution/ordinance by a simple majority of the governing body. If the rate of inflation is less than one percent, the taxing district could increase its levy up to one percent with a finding of substantial need and passage of a second resolution/ordinance by a supermajority vote of the governing body.
Related Questions
- Since our property tax bills will no longer have "primary" and "secondary" designations, how will the money be distributed to the taxing districts?
- COULD LEVIES OF JUNIOR TAXING DISTRICTS HAVE AN INCREASE IN LEVY CAPACITY AS A RESULT OF THE 1% LEVY LIMIT?
- How does the Treasurer add value to the taxing districts and other governmental entities?
