Proposed Ordinance No. 6750 establishes the 2020 Property Tax Levy based upon preliminary information from King County. It represents an increase over the 2019 levy of $218,909 plus the increase due to new construction and refund levy. King County will not finalize the City’s assessed valuation (AV), new construction, and refund levies until December. Therefore the levy is based upon preliminary information as it is scheduled for Council adoption on November 18, 2019. The following table summarizes the 2020 Property Tax levy:
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Table 1. 2020 Property Tax Levy Calculations
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2019 property tax levy
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$ 21,890,932
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1.000% increase
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218,909
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Estimated new construction
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243,119
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Estimated refund levy
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15,228
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Total Estimated property tax levy
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$ 22,368,188
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As of this date the County has preliminarily established the 2020 assessed valuation (including estimated new construction) for the City of Auburn at $12.334 billion which is a 8.1% increase over the 2019 level of $11.414 billion. The total 2020 Property Tax Levy will be distributed to the General Fund to support general governmental operations.
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