City of Coolidge
Arizona

Ordinance
2829

Ordinance No. 18-01; an Ordinance of the Sandia Community Facilities District, City of Coolidge Arizona, Levying Upon the Assessed Valuation of the Property Within the Sandia District Subject to Ad Valorem Taxation of a Certain Sum Upon Each One Hundred Dollars ($100.00) of Valuation Sufficient to Raise the Amounts Estimated to be Required in the Annual Budget, for the Purpose of Paying for Various Operating Expenses; to Raise the Amount Estimated to be Required in the Annual Budget, Less the Amount Estimated to be Received from Other Sources of Revenue; All for Fiscal Year Ending June 30, 2019.

Information

Department:Finance DepartmentSponsors:
Category:Budget

Attachments

  1. Printout
  2. Sandia CFD Tax Levy Ordinance - FY 18-19 (This file has not yet been converted to a viewable format)

Body

RECOMMENDATION

Adopt Ordinance No. 18-01; An Ordinance of the Sandia Community Facilities District, City of Coolidge Arizona, Levying Upon the Assessed Valuation of the Property Within the Sandia District Subject to Ad Valorem Taxation of a Certain Sum Upon Each One Hundred Dollars ($100.00) of Valuation Sufficient to Raise the Amounts Estimated to be Required in the Annual Budget, for the Purpose of Paying for Various Operating Expenses; to Raise the Amount Estimated to be Required in the Annual Budget, Less the Amount Estimated to be Received from Other Sources of Revenue; All for Fiscal Year Ending June 30, 2019.

 

DISCUSSION

The maximum property tax rate for this District is thirty cents ($.30) per $100 of secondary assessed valuation.  On June 25, 2018, the Sandia Community Facilities District final budget in the amount of $15,530, was adopted for fiscal year 2018-2019.  This budget included the property tax levy rate of thirty cents ($0.30) per $100 of secondary assessed valuation (SAV) for administration, operations and maintenance.

 

Pinal County’s estimation of taxable property valuation for the District in February 2018 is $4,970,109.  The levy is estimated to be $2,203 for administration, operations and maintenance.

 

 

FISCAL IMPACT

This year’s projection based on property value will generate $2,203.  All operating and maintenance expenses that exceed that amount would be reimbursed by the developer.

 

Meeting History

Jul 9, 2018 7:01 PM  Community Facilities District Board Sandia - Special Meeting
draft Draft

CFD/Treasurer Garcia advised the Board of Ordinance No. 18-01; which sets the maximum property tax rate for the Sandia Community Facilities District at thirty cents ($.30) per $100 assessed valuation, to collect $2,203 for the FY 18/19 Expenditures. There was discussion.

RESULT:APPROVED [UNANIMOUS]
MOVER:Rob Hudelson, District Members
SECONDER:Steve Hudson, District Members
AYES:Jon Thompson, Jacque Hendrie-Henry, Steve Hudson, Rob Hudelson, Tatiana Murrieta, Joseph Marsh
ABSENT:Jimmy Walker