Title
Ordinance providing funding for the City of Pittsburgh Parks Trust Fund through a .50 mill increase to the property tax rate; by adding Section 263.04 City of Pittsburgh Parks Trust Fund Levy at Title Two: Fiscal, Article IX: Property Taxes, Chapter 263: Real Property Tax and Exemption.
Body
WHEREAS, based on the will of the majority of those voting in the General Election on November 5, 2019, the City of Pittsburgh Home Rule Charter was amended to provide for the creation of a City of Pittsburgh Parks Trust Fund;
WHEREAS, the amendment to the City of Pittsburgh Home Rule Charter provided for eligible sources of funding for the City of Pittsburgh Parks Trust Fund, including the option for the Council of the City of Pittsburgh to add .50 mills to the real estate tax rate; and
WHEREAS, the City of Pittsburgh now wishes to increase the real estate tax rate by .50 mills for fiscal year 2020 2021 and direct the resulting revenue into the City of Pittsburgh Parks Trust Fund.
Be it resolved by the Council of the City of Pittsburgh as follows:
Section 1. Title Two: Fiscal, Article IX: Property Taxes, Chapter 263: Real Property Tax and Exemption, shall provide as follows in Section 263.04: City of Pittsburgh Parks Trust Fund Levy
? 263.04 - City of Pittsburgh Parks Trust Fund Levy.
Effective January 1, 2020 2021 for the purpose of providing revenue for deposit into the City of Pittsburgh Parks Trust Fund, 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: .50 mills upon each dollar or $0.50 upon each $1,000.00 of the assessed valuation of land, and .50 mills upon each dollar or $0.50 upon each $1,000.00 of the assessed valuation of all buildings. All tax revenue collected under this Section 263.04 shall be allocated exclusively to the City of Pittsburgh Parks Trust Fund. This millage rate shall be effective for the 2020 2021 year. ...
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