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INFORMATIONAL MEMO <br />Page 2 <br />Levy Limit <br />RCW 27.12.390 allows for a maximum statutory levy rate for cities at $3.60 less the actual regular <br />levy made by a library district. RCW 41.16.060 also allows for an additional levy of $0.225 if a <br />city has a firemen's pension fund. The maximum allowable levy for 2019 is estimated to be <br />$3.49003. However, due to the 1% limitation, the Levy Limit Worksheet received from King <br />County estimates the City's preliminary levy rate for 2019 at $2.37331. <br />RECOMMENDATION <br />The City Council is being asked to approve the ordinance adopting the General Tax Levy and the <br />ordinance showing the dollar and percent increase from the previous year at the November 13, <br />2018 Committee of the Whole meeting and subsequent November 19, 2018 Regular Meeting. A <br />public hearing has also been scheduled at the November 13, 2018 Committee of the Whole. <br />ATTACHMENTS <br />Draft Ordinances <br />Preliminary Levy Limit Worksheet-2019 Tax Roll <br />Z:ICouncil Agenda Items\Finance111.6 FinancelInfo Memo - 2019 Taxes with Excess levy.docx <br />4 <br />