title
AN ORDINANCE relating to the 2002 levy of property taxes in King County for collection in the year 2003.
body
PREAMBLE:
In accordance with state law, the city of Seattle and the state of Washington have separately certified to the county assessor the city and state 2002 property tax levy for collection in 2003. The remaining taxing districts in the county certified to the county council the levy amounts desired to be imposed this year for collection in 2003.
BE IT ORDAINED BY THE COUNCIL OF KING COUNTY:
SECTION 1. The county assessor of King County has certified to the metropolitan King County council that the assessed valuation of the County of King as finally equalized amounts to $225,069,320,619 and as adjusted for senior citizens exemptions provided for in RCW 84.36.381 and for omitted assessments in accordance with RCW 84.40.080 is $222,198,368,780.
SECTION 2. The metropolitan King County council imposes the levies necessary to fund estimated expenditures for the year 2003 as listed in this section. These amounts do not include the total of estimated revenues from sources other than taxation, including available surplus and such expenditures as are to be net from bond warrant issues. In accordance with state law, the King County assessor calculated a sum for property taxes available to the county related to new construction, improvements to property and any increase in the assessed value of state assessed property. In calculating the amount of regular property tax monies needed, the council was cognizant of this sum and it is therefore included in the following levy totals.
FUND TAX
COUNTY
CURRENT EXPENSE $223,966,959
HUMAN SERVICES FUND/MENTAL HEALTH 4,565,552
VETERANS' AID 2,054,498
RIVER IMPROVEMENT 2,428,663
INTER-COUNTY RIVER IMPROVEMENT 50,000
BOND REDEMPTION - LIMITED 14,621,393
AFIS 10,826,549
UNLIMITED G.O. BONDS 31,000,000
CONSERVATION FUTURES 14,006,491
EMERGENCY MEDICAL SERVICES 54,087,223
TOTAL COUN...

Click here for full text