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Show What is a Mill Levy, You Say? MRS. WALTER T, WILSON You learned last week that living in Bountiful is not high at all. That Bountiful has a 20 mill tax levy compared with a 19.4 average for all cities in the state. Perhaps you are wondering what mill levy means. A mill is 110 of a cent. Therefore you are levied 20 mills per dollar of the assessed as-sessed valuation of your property prop-erty for Bountiful City. You will pay a mill levy on county, school and special taxes. Lets break down this 20 mill levy and see what we are levied for as compared to what the law states third class cities can levy for. Total 1956 Maximum Mill Levy Levy Contingent expenses 5.00 3.50 Water Supply and waterworks 4.00 .00 Water Purification and Sewage Dist. 4.00 .00 Streets and Sidewalks Side-walks 5.00 5.00 Parks and public property 2.00 2.00 Drains (storm only) 2.00 1.10 Public Affairs and Finance 2.00 1.00 Construct & Main-Special Main-Special Utility 3.50 .00 Public Safety 5.00 2.50 City Halls and Memorials Me-morials 5.00 2.50 City Auditors Expense Ex-pense .50 .15 City Auditors Expense Ex-pense .50 .15. Recreation .75 .75 Interest and Sinking Fund 1.00 Public Libraries and Gymnasilums 2.00 .00 Municipal or Joint Hospitals 5.00 .00 Mosquito Abatement District 1.00 .00 Metropolitan Water District .00 Special Improvement Improve-ment Guarantee Fund 1.00 .50 47.75 20.00 A Third Class City can issue general obligation bonds up to 12 of its assessed valuation, val-uation, which in our case would be $1,040,000.00. Unless other sources of money are available to pay the interest and retirement of the bonded general debt, the city council is obligated by law to levy sufficient assessments to cover the above costs. No general gen-eral obligation bond can run longer than 20 years. From this it is apparent that the levy for interest and bond retirement would vary according to the debt incurred. Now you can see after comparing com-paring Bountiful's levy with the maximum set up by the Stale Legislature that Boun- See MILL on Page 6 For the first time in several years the city is in the black This report was made to the city council by Wilfred Williams, Wil-liams, city recorder, lie alsr stated that total receipts for 1957 were $214,434 44. If proy erty taxes account for onlj 165,455.00 then cities mus' have other sources of income We are sure you will be interested inter-ested in finding out what othei sources there are. We will givi Mill Levey Continued from page 1 tiful City is at the maximum in only 3 items, ie, streets- and sidewalks, parks and public property and recreation. Total assessed valuation of Bountiful City as reported by the Davis County Assessor us of May 1, 1U57. was $11,741,-2(51.00. you that information in next week's column. If you are interested in-terested in obtaining a copy of, ihe survey published by the 'League of Women Voters ofi iDountiful, contact Mrs. Oc-j tavia Hurnham, president, 14!) West 4th North. The price is 175 cents. j At an assessments of 20 mills this would bring 8174,825.00 Los: Estimated Uncolleclable 3';; . ... $5,000.00 Special Improvement Guarantee Fund, .50 mill 4.370.00 9.370.00 $1(15. 455. 00 |