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HomeMy WebLinkAboutResolution 50-24RESOLUTION ACCEPTING THE AMOUNTS AND RATES AS DETERMINED BY THE BUDGET COMMISSION AND AUTHORIZING THE NECESSARY TAX LEVIES AND CERTIFYING THEM TO THE COUNTY AUDITOR (CITY COUNCIL) OHIO REVISED CODE, SECTION 5705.34, 5705.35 The Council of the City of DUBLIN , Franklin County Ohio, met in Reo ular session on the | b* day of Se pluwour , (Regular or Special) . 2024, at the office of Cty of Nubhia with the following members present: View MW \louov (* ha shna Alutto ve (V\G ava NOrOse 6 Mas IS aie \\ lado i: Wards ¢ WUD WAG moved the adoption of the following Resolution: WHEREAS, This Council in accordance with the provisions of law has previously adopted a Tax Budget for the next succeeding fiscal year commencing January 1, 2025; and WHEREAS, The Budget Commission of Franklin County, Ohio, has certified its action thereon to this Council together with an estimate by the County Auditor of the rate of each tax necessary to be levied by this Council, and what part thereof is without, and what part within, the ten mill tax limitation; therefore, be it RESOLVED, By the Council of the City of DUBLIN Franklin County, Ohio, that the amounts and rates, as determined by the Budget Commission in its certification, be and the same are hereby accepted: and be it further RESOLVED, That there be and is hereby levied on the tax duplicate of said City the rate of each tax necessary to be levied within and without the ten mill limitation for tax year 2024 (collection year 2025) as follows: Resolution 50-24 SCHEDULE A SUMMARY OF AMOUNTS REQUIRED FROM GENERAL PROPERTY APPROVED BY THE BUDGET COMMISSION, AND COUNTY AUDITOR'S ESTIMATED TAX RATES County Auditor's Amount to be Amount Approved Estimate of Full Tax Derived from by Budget Rate to Be Levied Levies Outside Commission Inside Outside 10 Mill Inside 10 Mill 10 Mill 10 Mill FUND Limitation Limitation Limit Limit Parkland Acquisition General Fund Charter Bond Retirement Bond Retirement Charter Police Pension Police Operating 583,174.82 1.20 Fire Pension Fire Operating Police/Fire Pension Capital Improvement Charter 5,934, 163.70 173 Road & Sidewalk Fund TOTAL $583,174.82 $5,934, 163.70 1.75 1.20 and be it further RESOLVED, That the Clerk of this Council be and is hereby directed to certify a copy of this Resolution to the County Auditor of said County. \/ CE (V la I ADC Muddy seconded the Resolution and the roll being called upon its adoption the vote resulted as follows: Ms, (tly De Resa es — Mh “Res Wes var Vous Chast na Aludto es Ms. Ryn! \Cramh Wes Wloauwe Chas Pynovpse Gyipt 16S bu Adopted the | (4 _ day Sepa bur , "f_ Z Attest President of Council ] Mayor DUBLIN leyk of Coupgil Franklin County, Ohio. Resolution 50-24 CERTIFICATE OF COPY ORIGINAL ON FILE The State of Ohio, Franklin County, ss. £ Se am kr ¥ la do , Clerk of the Council of the City of DUBLIN within and for said County, and in whose custody the Files and Records of said Council are required by the Laws of State of Ohio to be kept do hereby certify that the foregoing is taken and copied from the original Resoluhac So-24- ACL E AQ +The VTIWO nts ind) IC0 aS Ce#eymMined Huda OVW) ‘ ‘ na +hem + (Mg DUNT MNO now on file, that the foregoing has been compared by me with said original document, and that the same is a true and correct copy thereof. . , Q pitas by VN, 2024, WITNESS my signature, this | 1 ¥e day of DUBLIN Franklin County, Ohio. Resolution 50-24 To: Members of Dublin City Council From: Megan O’Callaghan, PE, City Manager Date: September 10, 2024 Initiated By: Matthew Stiffler, Chief Financial Officer/Director of Finance Meghan J. Murray, Budget Manager Re: Resolution 50-24 – Accepting the Amounts and Rates and Authorizing Tax Levies Summary Each year, the Franklin County Budget Commission determines the amount of property taxes to be collected and remitted to the City based on the City’s millage rates, both inside and outside the “10 mill limit” as adopted by City Council in the 2025 Tax Budget, Ordinance 12-24. The inside millage rate was established many years ago by the State, and the outside millage is based on the voted levy for police operations. The Resolution Accepting the Amounts and Authorizing Tax Levies will set the rates for 2025. Background The history of the inside millage rates is as follows: •The property tax revenues from the City’s inside millage (also known as “unvoted” millage) rate of 1.75 mills was allocated 100% to the Parkland Acquisition Fund from 2001 – 2006. The Parkland Acquisition Fund can be used to acquire recreation facility sites, open space/greenways, and parkland. •From 2007 – 2009, the City allocated .95 mills of the 1.75 mills to the Parkland Acquisition Fund and allocated the remaining .80 mills to the Capital Improvements Tax Fund. The allocation change in 2007 increased the revenue to the Capital Improvements Tax Fund for the purpose of retiring a portion of the debt issued for the US33/SR 161/Post Road Interchange improvement project. At that time, this modification was said to be an indication of City Council’s emphasis on long-term planning and recognition of the economic development potential of the area surrounding the interchange. •Since the approval of the 2010 – 2014 Capital Improvements Program (CIP), through the 2024 – 2028 CIP, City Council has authorized the allocation of .35 mills to the Parkland Acquisition Fund and 1.40 mills to the Capital Improvements Tax Fund. In 2010, the allocation to the Parkland Fund was further reduced so a portion of the funding to be used to reimburse the General Fund for advances made to acquire right-of-way for the US33/SR161/Post Road Interchange project. During years 2010 and 2011, City Council considered re-allocating the Parkland millage to .8 mills, but in 2012 reconsidered due to the recognition of the benefits and flexibility of allocating more of the inside millage to the Capital Improvements Tax Fund. In addition to the revenue generated from the City’s 1.75 mills from inside millage, the City also receives revenue from 1.20 mills of outside (voted) millage for police operations. This millage was Office of the City Manager 5555 Perimeter Drive • Dublin, OH 43017-1090 Phone: 614-410-4400 • Fax: 614-410-4490 Memo Resolution 50-24 – Accepting the Amounts and Rates and Authorizing Tax Levies September 10, 2024 Page 2 of 2 approved by the voters in June 1976 and permanently renewed in 1981. Revenue received from this levy is credited to the Safety Fund. In tax year 2024 (collection year 2025), it is estimated that approximately $4,750,000 in property tax revenue from the inside millage will be credited to the Capital Improvements Tax Fund. The outside millage that is credited to the Safety Fund for police operations is estimated to generate approximately $390,000 in 2025. The effective rate for the Police operating levy for tax year 2024 (collected in 2025) is .123922 for residential/agricultural property and .245625 for commercial/industrial property. This translates into approximately $4.34 per $100,000 in value on residential/agricultural property and $8.60 per $100,000 in value on commercial/industrial property. Proposed Distribution Changes for 2025-2029 For the tax years 2025 through 2027, it is proposed that the entire 1.75 mills of inside millage be allocated to the Capital Improvements Tax Fund, with 0 mills allocated to the Parkland Acquisition Fund. This change aims to enhance the funding available for critical infrastructure projects and long-term capital improvements. For the tax years 2028 and 2029, the proposed distribution of the inside millage is proposed to be adjusted to allocate 1.40 mills to the Capital Improvements Tax Fund and 0.35 mills to the Parkland Acquisition Fund as has been the distribution since the 2010-2014 CIP. This distribution allows for a more balanced approach to funding both capital improvements and parkland acquisitions and recreation improvements, ensuring the continued development and maintenance of the City’s infrastructure and recreational spaces. The adoption of this Resolution, officially titled Resolution Accepting the Amounts and Rates as Determined by the Budget Commission and Authorizing the Necessary Tax Levies and Certifying them to the County Auditor is required by Section 5705.34 of the Ohio Revised Code. The adopted Resolution is to be filed with the Budget Commission (in Franklin, Delaware and Union Counties) on or before October 1. Recommendation Staff is recommending the adoption of Resolution 50-24 at the September 16, 2024 City Council meeting.