2020 Tax Levies
Per the requirements outlined in Revised Code of Washington 35A.33.050 and RCW 84.52.020, the City Council must annually approve an ordinance estimating the “amounts to be raised by taxation on the assessed valuation” of property within the City and file the ordinance with the county clerk “on or before November 30. To meet this deadline, there was a public hearing on November 12, 2019; the two ordinances (see below) were introduced on November 12, 2019, and action will be taken on November 25, 2019.
- Presentation given by Drew Bouta at the City Council meeting on November 25, 2019
- Slide presentation_Full Slidedeck (PDF)
- Slide presentation_Summary Slidedeck (PDF)
November 25, 2019, 7 p.m.
Snoqualmie City Hall
Topic: 2019-2020 Biennial Budget Review
Proposed Mid-Biennium Modifications
Ordinances & Recommendation Memo
Memo of Recommendation (11/05/2019)
To the City Council from the City of Snoqualmie Administration
The memo summarizes the ordinances, certification requirements of the City Council, calculating the 2020 property tax levy amount, changes in constituent property taxes, the impact of the one percent plus banked capacity levy increase, and the recommendation of the City of Snoqualmie Administration.
Ordinance 1 - The Property Tax Levy Ordinance (DRAFT)
Annually, City of Snoqualmie Council adopts an ordinance levying two property tax amounts: a “regular” property tax amount and an “excess” property tax amount. The City of Snoqualmie uses the amount of regular property tax collected to fund important services such as Police, Fire, and Parks maintenance in addition to other necessities. The City of Snoqualmie uses the amount of excess property tax collected to make an annual principal and interest payment on the 2002 voted Fire Station general obligation bond. The voter approval of this bond allowed the City of Snoqualmie to build the Fire Station across from Kimball Creek Village. In 2016, the City of Snoqualmie refunded the 2002 bond to take advantage of the low interest rate environment. This refunding is expected to save taxpayers greater than $100,000 over the maturity of the bond and is scheduled for redemption in 2022.
Ordinance 2 - The Increase Ordinance (DRAFT)
The City of Snoqualmie Council annually adopts a separate ordinance referred to as the “increase ordinance”. The adoption of this ordinance would allow the City of Snoqualmie to increase the amount of regular property tax collected in 2020 by one percent (1%) plus banked capacity, or less, over the amount of regular property tax assessed in 2019. In the State of Washington, the increase in total property tax collected by the City of Snoqualmie is not based on the increasing value of property, but rather on the amount of property tax assessed citywide in the prior year (“last year’s actual regular levy”). The one percent cap is often referred to as the “levy lid limit”.
The Impact of the One Percent Plus Banked Capacity Increase
The proposed levy increase is equal to $89,478. When divided by the total assessed valuation for the City of Snoqualmie, the levy increase adds approximately $0.025 cents per $1,000 of assessed valuation to the levy rate. The following table estimates the contribution of the increase to the property taxes of a homeowner with a certain 2020 assessed value.
See the table on page 4 of the memo for 2020 property taxes by assessed value of a home.