Presenter
Presented by Mr. Hertzberg
Title
Ordinance amending the Pittsburgh Code, Title Two, Fiscal; Article IX, Property Taxes; Chapter 263, Real Property Tax and Exemption, Section 263.01, Levy and Rate on Lands and Buildings, by fixing the rate of taxation for 2005.
Body
Be it resolved by the Council of the City of Pittsburgh as follows:
Section 1. Section 263.01 of the Pittsburgh Code is hereby amended and supplemented to read as follows:
ยง 263.01 LEVY AND RATE ON LANDS AND BUILDINGS
Effective January 1, 2005, for the purpose of providing revenue for the payment of the ordinary current expenses of the City, for the payment of interest on the funded and floating indebtedness of the City, and of the constituent units constituting the present City, created prior to their annexation to or consolidation with the City, for the payment of the amounts required to be paid to several sinking funds for the retirement at maturity of the outstanding indebtedness of the City, and of the constituent units constituting the present City, created prior to their annexation to or consolidation with the City, due or to become due during the fiscal year beginning January 1, 2005 and ending December 31, 2005, and for the payment of other liabilities of the City due or to become due during the fiscal year beginning January 1, 2005, and ending December 31, 2005, the following taxes shall be and the same are hereby levied and assessed upon all real property taxable for the state, county and City purposes within the limits of the City, viz: 10.8 mills upon each dollar or ten dollars and eighty cents ($10.80) upon each one thousand dollars ($1,000.00) of the assessed valuation of land, and 10.8 mills upon each dollar or ten dollars and eighty cents ($10.80) upon each one thousand dollars ($1,000.00) of the assessed valuation of all buildings.
Section 2. This ordinance shall become effective January 1, 2005.