City Council Minutes 2007 06 05 - Laserfiche WebLink

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City Council Meeting Minutes June 5, 2007 Page 8 of 14 MOTION: Council member Muckle moved to approve Ordinance No. 1518, Series 2007, seconded by Council member Clabots. Roll call vote was taken. The motion carried by a vote of 7-0. Mayor Sisk commended Community Facilitator Muth for her work with the Historic Preservation Commission. DISCUSSION/DIRECTION - SENIOR REBATE TAX PROGRAM Mayor Sisk requested a Staff presentation. Deputy City Clerk Hanson explained the Colorado Senior Property Tax Homestead Exemption Program was designed to provide relief for seniors who have owned and lived in their home for 10 years or more. Louisville Ordinance No. 430, Series 1973 provides financial relief for elderly Louisville citizens a cash rebate of the City's mill levy for qualified residents over the age of 65. In 2004, the City approved Ordinance No. 1459, Series 2004 a cap on the homeowner value at $250,000, which would allow for a maximum rebate of approximately $133.56 for assessment year 2006 payable in 2007. In light of the Colorado Homestead Exemption Program, the Finance Committee requested an Ordinance to repeal the Louisville Senior Tax Rebate program. On second reading of the Ordinance, Council requested further information on the repeal of the program and a revised proposal be presented at the June 5,2007 meeting. Former Finance Director Patty Leslie conducted the following research: 1) All Finance Directors in the Metro Round Table group were queried and none offer a Senior Tax Rebate Program in their Cities. 2) In addition to the refund of the tax itself the City Clerk's office and the Finance Department spend over 200 hours per year processing refunds or another $4,000 in salary and benefit costs annually. 3) The State of Colorado rebate program includes Property Tax, Rent and Heat Rebates. A qualifying senior could obtain up to $613 from the state as a resident of the City of Louisville and an additional $100 from the City of Louisville equaling a total refund of $713.00. 4) Without the state program, a qualifying senior could obtain up to a maximum $133.56 rebate. Alternative options for the Senior Rebate program are to continue the program as is; continue the program as is but place a household income cap on qualifying seniors similar to the water rE~bate program which has a household income cap of $12,000 per year; disallow the City of Louisville refund if the applicant qualified for and received a state refund (this option would not necessarily reduce the administration costs to the City); or discontinue the program completely due to the costs of administration and state funding resources. PUBLIC COMMENT