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030 of 2023 - Adopting the rate of tax levy, including the levy for the Library Fund, for Fiscal Year 2023-241 SALT LAKE CITY ORDINANCE No. _30 of 2023 (Adopting the final rate of tax levy, including the final levy for the Library Fund, upon all real and personal property within Salt Lake City, made taxable by law for fiscal year 2023-2024) An ordinance adopting the final rate of tax levy, including the final levy for the Library Fund, upon all real and personal property within Salt Lake City made taxable by law for fiscal year 2023-2024. Be it ordained by the City Council of Salt Lake City: PREAMBLE Chapter 2, Title 59 of the Utah Code states that the governing body of each city shall, by ordinance or resolution, adopt a proposed tax levy or, if the tax rate is not more than the certified tax rate, a final tax levy on the real and personal property for various municipal purposes. Chapter 2, Title 59, of the Utah Code provides for certain notice and hearing requirements if the proposed tax rate exceeds the certified tax rate. In that event, the proposed tax rate does not become final unless approved by resolution of the City Council following such notice and public hearing. It is the intent of Salt Lake City to comply with the mandate of the Utah Legislature, but reserve in itself the power to amend the tax rates set herein to guarantee, after final appraisal figures have been determined, that it does not exceed the amount required for its governmental operations and taxing authority granted by the Legislature. It is the intent of Salt Lake City to adopt a total final tax rate for the general fund that will raise $123,259,617, including $2,943,898 in new growth property tax revenue. Similarly, it is the intent of Salt Lake City to adopt a final tax rate for the Library that will raise $25,209,427 including $677,103 in new growth property tax revenue, which the City acknowledges will require a truth in taxation hearing. 2 Further, it is the intent of the City to levy an additional tax, if necessary, to cover costs of State legislative mandates or judicial or administrative orders under Chapter 2, Title 59 of the Utah Code. SECTION 1. PURPOSE. The purpose of this ordinance is to adopt a final tax levy, which includes the amount of the final library fund tax levy previously adopted, pursuant to Chapter 2, Title 59 of the Utah Code, upon all real and personal property within Salt Lake City made taxable by law during fiscal year 2023-2024 to defray the necessary and proper expenses of Salt Lake City to maintain the government thereof and for operating and maintaining its libraries and reading rooms and to pay for costs of State legislative mandates or judicial or administrative orders under Chapter 2, Title 59 of the Utah Code. SECTION 2. FINAL TAX LEVY: 2023-2024. The City Council hereby adopts the following final levy, subject to Chapter 2, Title 59 of the Utah Code, upon all real and personal property within Salt Lake City made taxable by law, for the fiscal year of Salt Lake City beginning July 1, 2023, and ending June 30, 2024, a tax of .003599 on each dollar of taxable valuation of said property apportioned as follows: a) 0.002456 shall be credited as revenue in the general fund, generating $100,530,046 of ongoing revenue; and b) 0.000037 shall be credited to the judgment levy for the general fund, a one-year adjustment generating $1,498,935 of one-time revenue; and c) 0.00058 shall be credited as revenue in the special library fund, generating $24,916,220 of on-going revenue; and d) 0.000424 shall be credited toward repayment of General Obligation Bonds, generating $17,342,055 of on-going revenue; and 3 e) 0.000007 shall be credited to the judgment levy for the library fund, a one-year adjustment generating $293,207 of one-time revenue. f) 0.000095 shall be credited to the fund tort liability claims, generating $3,888,581 in revenue. The City Council hereby further levies a tax to cover the costs of State legislative mandates or judicial or administrative orders under Chapter 2, Title 59 of the Utah Code as determined by the Utah State Tax Commission and the Salt Lake County Auditor’s Office. Said tax levies in this Section 2 shall be subject to Mayor approval and City Council reconsideration pursuant to § 10-3b-204 of the Utah Code. SECTION 3. CERTIFIED TO AUDITOR. The tax levies hereinabove determined and levied shall be certified by the City Recorder to the Auditor of Salt Lake County, State of Utah, pursuant to the provisions of Chapter 2, Title 59 of the Utah Code. SECTION 4. RESERVED POWER AND RIGHT TO AMEND. The City hereby expressly reserves the power and right to amend any property tax levy made herein as it may deem just, proper and appropriate under the law. SECTION 5. EFFECTIVE DATE. This Ordinance shall become effective on July 1, 2023. Passed by the City Council of Salt Lake City, Utah, this __13th __ day of ___June_____, 2023. ______________________________________ CHAIRPERSON ATTEST: ______________________________ CITY RECORDER 4 Transmitted to the Mayor on __________________________. Mayor’s Action: _____Approved. _____Vetoed. ______________________________ MAYOR ATTEST: ____________________________ CITY RECORDER (SEAL) Bill No. __30___ of 2023. Published: ____________________. Salt Lake City Attorney’s Office Approved As To Form Date:____________________ By:_________________________ Katie Lewis, City Attorney Katherine Lewis (Jun 16, 2023 17:12 MDT) Jun 16, 2023 Jun 20, 2023 Erin Mendenhall (Jun 22, 2023 11:53 MDT) 4 June 23 2023 Ordinance 30 of 2023 Adopting the rate of tax levy, including the levy for the Library Fund, for Fiscal Year 2023-24 Final Audit Report 2023-06-23 Created:2023-06-16 By:Thais Stewart (thais.stewart@slcgov.com) Status:Signed Transaction ID:CBJCHBCAABAA4VxCXqLY845JuwwUJq098X68d483a1DV "Ordinance 30 of 2023 Adopting the rate of tax levy, including th e levy for the Library Fund, for Fiscal Year 2023-24" History Document created by Thais Stewart (thais.stewart@slcgov.com) 2023-06-16 - 4:27:25 PM GMT Document emailed to Katherine Lewis (katherine.lewis@slcgov.com) for signature 2023-06-16 - 4:31:14 PM GMT Email viewed by Katherine Lewis (katherine.lewis@slcgov.com) 2023-06-16 - 11:12:29 PM GMT Document e-signed by Katherine Lewis (katherine.lewis@slcgov.com) Signature Date: 2023-06-16 - 11:12:37 PM GMT - Time Source: server Document emailed to Darin Mano (darin.mano@slcgov.com) for signature 2023-06-16 - 11:12:39 PM GMT Email viewed by Darin Mano (darin.mano@slcgov.com) 2023-06-17 - 6:16:53 AM GMT Email viewed by Darin Mano (darin.mano@slcgov.com) 2023-06-18 - 5:37:24 AM GMT Email viewed by Darin Mano (darin.mano@slcgov.com) 2023-06-19 - 2:49:47 AM GMT Email viewed by Darin Mano (darin.mano@slcgov.com) 2023-06-20 - 2:58:47 AM GMT Document e-signed by Darin Mano (darin.mano@slcgov.com) Signature Date: 2023-06-20 - 4:41:44 PM GMT - Time Source: server Document emailed to Erin Mendenhall (erin.mendenhall@slcgov.com) for signature 2023-06-20 - 4:41:46 PM GMT Email viewed by Erin Mendenhall (erin.mendenhall@slcgov.com) 2023-06-21 - 5:28:57 AM GMT Email viewed by Erin Mendenhall (erin.mendenhall@slcgov.com) 2023-06-22 - 2:38:13 AM GMT Document e-signed by Erin Mendenhall (erin.mendenhall@slcgov.com) Signature Date: 2023-06-22 - 5:53:25 PM GMT - Time Source: server Document emailed to Cindy Trishman (cindy.trishman@slcgov.com) for signature 2023-06-22 - 5:53:26 PM GMT Document e-signed by Cindy Trishman (cindy.trishman@slcgov.com) E-signature obtained using URL retrieved through the Adobe Acrobat Sign API Signature Date: 2023-06-23 - 4:22:11 AM GMT - Time Source: server Agreement completed. 2023-06-23 - 4:22:11 AM GMT