HomeMy WebLinkAboutNotice for Public Hearing for Use of Foregone tax levying authority and passage of ResolutionNOTICE OF PUBLIC HEARING
UTILIZATION OF A PORTION OF FORGONE PROPERTY TAX TO BE INCLUDED IN THE UPCOMING
BUDGET YEAR LEVYING AUTHORITY
CITY OF REXBURG, IDAHO
A public hearing will be held for the consideration of utilizing a portion of forgone property taxes in the amount of $65,703.
The current foregone balance of the City of Rexburg is $92,648 and including the $65,703 in the budget for Fiscal Year 2025
would take the forgone balance down to approximately $26,945. To recover foregone and increase the budget, the City is
required by House Bill 354 effective on July 1, 2020, to hold a public hearing and pass a resolution in the year of the increase.
If a resolution is passed, it should be provided to both the Madison County Clerk and the State Tax Commission. The
foregone increase being requested may be used for either maintenance or operations or a specific capital project. The Fiscal
Year 2025 use of foregone property taxes is to be utilized for maintenance and operations, specifically to help cover the
additional expenses proposed in the budget to add Public Safety personnel. The process to utilize a portion of forgone
property taxes and increase the Fiscal Year 2025 budget includes a resolution with a notice published in the official newspaper.
The proposed public hearing will occur at City Hall, 35 N 1st E, Rexburg, Idaho, at 6:30 pm, on July 17, 2024. All
interested persons are invited to appear and show cause, if any, why such foregone utilization in the budget 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
through Thursday or Friday 7:30 am to 12:30 pm). City Hall is accessible to persons with disabilities. Anyone desiring
accommodation 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 2024-06
A RESOLUTION OF THE CITY OF REXBURG, IDAHO, TO UTILIZE AND INCLUDE IN THE BUDGET
A PORTION OF 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 utilize in the Fiscal Year 2025 budget a portion of forgone property taxes in the
amount of $65,703 to cover the cost of the services provided by the City. The City will utilize the increase in the budget from
utilizing a portion of foregone property tax for maintenance and operations, specifically to help cover the additional expenses
proposed in the budget to add Public Safety personnel.
WHEREAS, the City Council has provided the required notice and held a public hearing regarding increasing the budget to
use a portion of the forgone property tax.
NOW THEREFORE, be it resolved by the Mayor and the Council of the City of Rexburg, effective July 17, 2024, that
$65,703 of forgone property tax will be utilized and added to the Fiscal Year 2025 budget through its property tax levying
authority.
The City is 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 17th DAY OF JULY, 2024.
CITY OF REXBURG
Madison County, Idaho
By _________________________________
Jerry L. Merrill, Mayor
ATTEST:
____________________________________
Deborah Lovejoy, City Clerk