§ 94. Tax rate.

Latest version.

The City Council shall adopt a tax rate for the current tax year on the same date the City's Annual Operating Budget is adopted and shall notify the Tax Assessor-Collector of the rate adopted. The tax rate shall consist of two components, each of which must be approved separately. The components are:
The rate that, if applied to the total taxable value, will be used to pay debt service for the fiscal year; and

The rate, that, if applied to the total taxable value, will impose the amount of taxes needed to fund maintenance and operation expenditures for the fiscal year.

The City may not impose property taxes in any year until the City Council has adopted a tax rate for that year, and the annual tax rate must be set by ordinance. The vote on the ordinance setting the tax rate must be separate from the vote adopting the budget.

(Ord. No. 85965, § 1 (Prop. 1), 5-5-97; Ord. No. 2015-05-20-0423 , § 3 (Prop. 4), 5-20-15)

                    
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