10-5-112 - Property tax levy set by ordinance -- Maximum -- Certification.
10-5-112. Property tax levy set by ordinance -- Maximum -- Certification.
(1) Not later than June 22 of each year, or August 17 in the case of a property taxincrease under Sections 59-2-919 through 59-2-923, the council, at a regular meeting or specialmeeting called for that purpose, shall by ordinance or resolution set the real and personal propertytax levy for town purposes, but the levy may be set at an appropriate later date with the approvalof the State Tax Commission.
(2) The combined levies for each town, for all purposes in any year, excluding theretirement of general obligation bonds and the payment of any interest, and taxes expresslyauthorized by law to be levied in addition, may not exceed .007 per dollar of taxable value oftaxable property.
(3) The town clerk shall certify the ordinance or resolution setting the levy to the countyauditor, or auditors, if the town is located in more than one county, not later than June 22 of eachyear.
Amended by Chapter 118, 1989 General Session