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2023 2024
<br />A.
<br />Year 2023 ×
<br />B.
<br />× ÷
<br />$1,000
<br />C.
<br />× ÷ $1,000
<br />A.V.
<br />D.
<br />- =
<br />× ÷
<br />$1,000
<br />E.A+B+C+D
<br />F.
<br />÷ × $1,000
<br />Assessed Value Less Annexed AV
<br />G.
<br />× ÷
<br />$1,000
<br />H.E+G
<br />I.
<br />Only enter fire/RFA rate, library rate, & firefighter pension fund rate for cities annexed to a fire/RFA or library, or has a firefighters pension fund.
<br />- - + ,,,,,,,,,,,,,,,,,,,,,,,,,,,,
<br />× ÷ $1,000
<br />J.
<br />K.
<br />L.
<br />Excess Levy Rate Computation - Excess levy amount divided by the assessed value in Line L4 above.
<br />÷ ×
<br />$1,000
<br />Bond Levy Rate Computation - Bond levy amount divided by the assessed value in Line L4 above.
<br /> × $1,000
<br />Page 1
<br />LEVY LIMITATIONS WORKSHEET
<br />TAXING DISTRICT COUNTY GENERAL 11-12-23 Levy for Taxes
<br />Current year's assessed value of new construction, improvements, and wind turbines, solar, biomass, and geothermal
<br />facilities in original districts before annexation occurred times last year's levy rate (if an error occurred or an error correction
<br />was made in the previous year, use the rate that would have been levied had no error occurred).
<br />$460,119,623 0.767604000000 =$353,189.66
<br />A.V. Last Year's Levy Rate
<br />Highest regular tax which could have been lawfully levied beginning with the 1985 levy (refund levy not included).
<br />$10,148,085.20 101.000%=$10,249,566.05
<br />Highest Lawful Levy Since 1985 Limit Factor/Max Increase 101%
<br />0 0.767604000000 =0
<br />Remainder from Line D Last Year's Levy Rate
<br />Current year's state assessed property value less last year's state assessed property value. The remainder is to be multiplied
<br />by last year's regular levy rate (or the rate that should have been levied).
<br />$434,699,304 $473,585,061 (38,885,757.00)$
<br />Current Year's A.V. Previous Year's A.V. Remainder
<br />Tax increment finance area increment AV increase (RCW 84.55.010(1)(e)) (value included in B & D cannot be included in C)
<br />Last Year's Levy Rate
<br />0.767604000000 =$0.00
<br />Regular property tax limit: …………………………………….………….=$10,602,755.71
<br />Parts F through H are used in calculating the additional levy limit due to annexation.
<br />To find the rate to be used in G, take the levy limit as shown in Line E above and divide it by the current assessed value of
<br />the district, excluding the annexed area.
<br />$10,602,755.71 $15,405,330,502 =0.688252401247
<br />Annexed Area's A.V. Rate in Line F
<br />Regular property tax limit including annexation …………………………………=$10,602,755.71
<br />Statutory maximum calculation
<br />Total in Line E
<br />Annexed area's current assessed value including new construction and improvements, times the rate in Line F.
<br />0.688252401247 =0
<br />1.800000000000 1.800000000000
<br />District base levy rate Fire or RFA Rate Library Rate Firefighter Pension Fund Statutory Rate Limit
<br />Highest lawful Levy For This Tax Year (Lesser of H and I) …………………………………… =$10,602,755.71
<br />Tax Base For Excess Levies
<br />1. Regular levy taxable value (including state-assessed property, and excluding
<br />$15,405,330,502 1.800000000000 =$27,729,594.90
<br />A.V. of District Statutory Rate Limit Statutory Amount
<br />$10,602,755.71=New highest lawful levy since 1985 (Lesser of I & H minus C, unless A (before limit
<br />factor increase) is greater than I or H minus C, then A before the limit factor increase)
<br />3. Plus Timber Assessed Value (TAV) ………………………………...………..
<br />4. Tax base for excess and voted bond levies ………………………...…..…… (1-2+3) $15,405,330,502
<br />boats, timber assessed value, and the senior citizen exemption for the regular levy) $15,405,330,502
<br />2. Less assessed value of the senior citizen exemption of less than $40,000 income or 65%
<br />of the median household income for the county based on lower of frozen or market value.
<br />$15,405,330,502 =0.000000000000
<br />Levy Amount A.V. from Line L4 above
<br />$15,405,330,502 =0.000000000000
<br />Levy Amount A.V. from Line L4 above
<br />REV 64 007
<br />Instructions for electronic version of form - Fill in highlighted cells all other self populate.
<br />Page 15 of 21
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