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The Ballot Measure
As part of the November 8th General Election Langley voters will have the following question on their ballots (to see a picture of the ballot, go here):
PROPERTY TAX LEVY PROPOSITION
To provide funding for continued basic operations shall the City of Langley increase its permanent regular property tax levy to a maximum of $1.83 per thousand dollars of assessed value for collection in 2006 and increase the levy each year thereafter as allowed by chapter 84.55 RCW?
What does this all mean? Here's a breakdown with links to further information:
- "funding for continued basic operations" means that the funds will go into the City's General Fund. To find out more about the City's budget priorities for 2006, go here.
- "increase its permanent regular property tax levy" means that the amount the City receives from property taxes will step up in 2006 and then stay on that new higher level.
- "to a maximum of $1.83 per thousand dollars of assessed value for collection in 2006" means that, if the measure passes, the City may collect in 2006 up to the amount that would result from a rate of $1.83/$1000 of assessed value for all the property in Langley. That's only about 20% of the total tax rate Langley residents pay because most of our property taxes go to government services (schools, the county, the hospital, etc.) that are not part of the City. In 2005 the Langley tax rate was $1.045/$1000 while the total tax rate for Langley residents was $8.44/$1000.
- "increase the levy each year thereafter as allowed by chapter 84.55 RCW" means that the revenue the City can receive from property taxes in each succeeding year is limited to the amount from the previous year plus a 1% increase plus any taxes from any new construction or annexations.
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