HomeMy WebLinkAboutRESOLUTION NO. 2000-03-14 RESOLUTION NO 2000-03-14
RESOLUTION TO SPECIFY THE USE OF ADDITIONAL TAX CREDIT
REIMBURSEMENT.
WHEREAS,Mouse File 726,as passed by the 77`'General Assembly and signed into law
May 15, 1997,by the Governor,requires the State of Iowa to fully fund the homestead,military
and elderly property tax credits: and
WHEREAS,the law requires that at least 50 percent of the additional reimbursement will
be used toward property tax relief as determined by the City and the remaining amount will be
used for infrastructure needs or additional property tax relief, and
WHEREAS,the City of Fairfax will receive an estimated$1,855 in additional credit
reimbursement for property tax relief,and
WHEREAS,the City Council has determined that using 50 percent for property tax
relief, and remaining amount will used for infrastructure needs,and
WHEREAS,the tax levy for the 1999-2000 budget has been certified and cannot be
changed, for according to the Iowa Department of Management,recertification is not feasible
THEREFORE BE IT RESOLVED: That the City Council directs that$1,855 be
designated to be used in the 2000-2001 budget.
Approved and adopted this le day of March, 2000.
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]Bill Voss,Mayor
ATTEST
Betty J. P e ity Clerk