Started by Larry Hendel
Oct 20, 2023
Oct 20, 2023
2
Assessor Raises Tax Roll on Lopez
Oct 20, 2023
Assessor Raises Tax Roll on Lopez Due to New Construction
Total Lopez Property value now assessed at $2.248 billion up $328 million in this adjustment.
This means:
If the proposed levy passes, the LIHD will now receive $1,686,234. That’s $246,246 more than projected last week.
If the levy increase fails the LIHD will receive $944,284. That’s about $10,300 more than projected last week.
Background:
According to the ballot measure wording, if the levy passes, the LIHD can increase the rate by 6% per year starting in 2025 for 5 years, not the usual 1% increase. New construction assessments can be added each year. Although much more in the current year, this generally adds another 1%-2%. These two figures (6% + 1%-2% new construction) determine the amount received but the total rate cannot exceed $.75 per $1,000 of assessed value and the LIHD may elect not to take the full amount in any year.
From LCHC members Larry Hendel, Larry Eppenbach, Carol Hendel, Becky Smith, Dixie Budke, Ingrid Stuiver, Cathy Doherty, Jim Smith, Connie Harris, Jim Ghiglione
Total Lopez Property value now assessed at $2.248 billion up $328 million in this adjustment.
This means:
If the proposed levy passes, the LIHD will now receive $1,686,234. That’s $246,246 more than projected last week.
If the levy increase fails the LIHD will receive $944,284. That’s about $10,300 more than projected last week.
Background:
According to the ballot measure wording, if the levy passes, the LIHD can increase the rate by 6% per year starting in 2025 for 5 years, not the usual 1% increase. New construction assessments can be added each year. Although much more in the current year, this generally adds another 1%-2%. These two figures (6% + 1%-2% new construction) determine the amount received but the total rate cannot exceed $.75 per $1,000 of assessed value and the LIHD may elect not to take the full amount in any year.
From LCHC members Larry Hendel, Larry Eppenbach, Carol Hendel, Becky Smith, Dixie Budke, Ingrid Stuiver, Cathy Doherty, Jim Smith, Connie Harris, Jim Ghiglione
Comment by Robert Buchholz
Oct 22, 2023
Oct 22, 2023
1
The increased Lopez Island Property Tax roll will certainly help fund continued Healthcare on Lopez.
The Lopez Island Hospital District 2024 Expenses are expected to be:
$1,343,727 if $100,000 is spent to support the Pharmacy sale.
Without the Levy Lift, LIHD will receive:
$944,284
and the LIHD will have a net loss of
-$399,443
With thw Levy Lift, the LIHD could have an Income of:
$1,686,234
and a surplus of:
$322,507
If there is a 2024 surplus, 2025 LIHD Property Taxes on the median $800,000 Lopez property could be reduced by appoximately:
$115
Proposition #1 passage will insure continued Healthcare Funding on Lopez with the abilit ... Read All
The Lopez Island Hospital District 2024 Expenses are expected to be:
$1,343,727 if $100,000 is spent to support the Pharmacy sale.
Without the Levy Lift, LIHD will receive:
$944,284
and the LIHD will have a net loss of
-$399,443
With thw Levy Lift, the LIHD could have an Income of:
$1,686,234
and a surplus of:
$322,507
If there is a 2024 surplus, 2025 LIHD Property Taxes on the median $800,000 Lopez property could be reduced by appoximately:
$115
Proposition #1 passage will insure continued Healthcare Funding on Lopez with the abilit ... Read All