HomeMy WebLinkAboutNotice for Public Hearing for Accrual of Foregone tax levying authority and passage of ResolutionNOTICE OF PUBLIC HEARING
ACCRUAL OF FORGONE PROPERTY TAX LEVYING AUTHORITY
CITY OF REXBURG, IDAHO
A public hearing will be held for the consideration of accruing forgone property taxes for $ 158,351. The city has chosen to levy less than the maximum allowed by law, which has created
a forgone amount that may be accumulated by the City. The City may add all or part of the foregone amount to its levy in any subsequent year. In order to accrue foregone, the City
is required by House Bill 354 effective on July 1, 2020 to pass a resolution in the year of accrual. The process to pass the foregone accrual resolution includes notice published in
the official newspaper. The proposed public hearing will occur at City Hall, 35 N 1st E, Rexburg, Idaho, at 7:00 pm, on August 19, 2020. All interested persons are invited to appear
and show cause, if any, why such foregone accrual should or should not be adopted. Additional information is available at City Hall during the regular office hours (7:30 am to 5:30
pm Monday thru Thursday or Friday 7:30 am to 12:30 pm). City Hall is accessible to persons with disabilities. Anyone desiring accommodations for disabilities related to the fee documents
or to the hearing should contact City Hall, 359-3020 at least 48 hours prior to the public hearing. This Notice can be provided in a format accessible to persons with disabilities and/or
persons with limited English proficiency upon request.
Se le puede proveer esta notificación en un formato accesible para las personas discapacidades y/o personas con conocimientos limitados del inglés a pedido.
The following resolution is proposed:
Resolution NUMBER 2020-15
A RESOLUTION OF THE CITY OF REXBURG, IDAHO, ACCRUING FORGONE PROPERTY TAXES
WHEREAS, the City Council desires to maintain the overall quality of life experienced by its constituents; and
WHEREAS, the City Council desires to accrue forgone property taxes in the amount of $158,351, which will allow such forgone amount to accumulate until a subsequent year when the City
may need to levy all or part of the forgone amount to cover the cost of the services provided by the City;
WHERAS, the City Council has provided required notice and held a public hearing in regards to the accrual of forgone property tax.
NOW THEREFORE, be it resolved by the Mayor and the Council of the City of Rexburg, effective August 19, 2020 that $158,351 forgone property tax will be accrued and may be added in part
or full to a future year through its property tax levying authority.
In order to add part or the full accrued forgone amount to a subsequent budget, The City will be required as per House Bill 474 to publish notice and hold a public hearing and adopt
a resolution stating the governing board’s intent to use the foregone levying authority, the amount of forgone revenue to be included in the tax levy for that fiscal year, and the purpose
for which the forgone revenue will be used. A copy of such resolution must be filed with the County Clerk and the Idaho Tax Commission when certifying its property tax levy to the county
using forgone levying authority.
PASSED BY THE CITY COUNCIL AND APPROVED BY THE MAYOR THIS 19th DAY OF AUGUST, 2020.
CITY OF REXBURG
Madison County, Idaho
By _________________________________
Jerry L. Merrill, Mayor
ATTEST:
____________________________________
Deborah Lovejoy, City Clerk
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