COUNCIL COMMUNICATION
TO: Honorable Mayor and Council
FROM: Jill Olsen, Administrative Services Director
SUBJECT:Title
Adopt Resolution No. IDD-18-7-1 Adopting the Lake Havasu Irrigation and Drainage District Property Tax Levy for Fiscal Year 2018-19 (Jill Olsen)
Body
FUNDING SOURCE:
N/A
PURPOSE:
To adopt the Fiscal Year 2018-19 property tax levy for the Lake Havasu Irrigation and Drainage District.
BACKGROUND:
In accordance with state law, the City Council, as trustees for the Lake Havasu Irrigation and Drainage District, is required to adopt the property tax levy no later than the third Monday in August and forward a certified copy of the Resolution to the County Board of Supervisors’ office for acceptance of the tax rate. The tax rate of $268.85 per acre was included in the final budget adopted by City Council on June 26, 2018.
State law also requires a period of at least 14 days between the expenditure and tax levy public hearing, and the adoption of the tax levy. The expenditure and tax levy public hearing was held 14 days ago on June 26, 2018.
COMMUNITY IMPACT:
The Lake Havasu Irrigation and Drainage District property tax partially funds the Irrigation and Drainage District operations, resulting in lower water user charges for City residents.
FISCAL IMPACT:
$268.85 rate per acre, resulting in an estimated $5,684,564 levy for Fiscal Year 2018-19.
ATTACHMENTS:
Resolution No. IDD-18-7-1
SUGGESTED MOTION:Recommended Action
I move to adopt Resolution No. IDD-18-7-1 adopting the Lake Havasu Irrigation and Drainage District property tax levy rate at $268.85 per acre for Fiscal Year 2018-19.