08/13/1992 Meeting - Laserfiche WebLink

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- personal income tax surcharge. Ms. Bascom said she found the revenue split to be fair and believed it would appeal to the public. Mr. Robinette indicated he had opposed the motion due to his concern about the ability of the City to raise the estimated revenues associated with the taxes. Mr. Boles indicated he had supported the motion due his belief that the combination of corporate and personal income taxes was the most equitable means to fund what he considered core services. After brief discussion of the voting breakdown, the council agreed to take another vote on the motion. Mr. Boles restated the original motion, which was to fund the remaining shortfall, community policing, fire operations, afford- able housing, and human services with a mix of personal and corporate income taxes, each source to yield an equal amount to realize the total. Mr. Nicholson called the council's attention to the change in the balance remaining to be funded due to the deletion of the Convention and Visitors Bureau contract. The motion failed, 5:3. The council took a ten-minute recess at 8:10 p.m. e Ms. Bascom moved, seconded by Mr. Rutan, to fund the budget shortfall and all the proposed enhancements, with the exception of the fire station construction, through a combination of corporate and personal income taxes designed to yield equal amounts. Mr. MacDonald reiterated his concern regarding the proposed yield split. Mr. Rutan encouraged the council to avoid writing tax policy at the meeting. He said that the motion was focused on the revenue sources and embodied a general concept that would require further refinement. Mr. Rutan suggested that the council would not be able to develop a specific formula until further research had occurred. Mr. MacDonald moved to amend the motion so that the ratio between the personal and corporate income taxes is based upon the proportion of income. The amendment died for lack of a second. The motion passed, 6:2. Mr. Boles outlined the next steps in the process, which included the need for further discussion of the specific mix of percentages for the corporate and personal income tax, discussion of implementation steps and time lines, and e MINUTES--City Council Work Session August 13, 1992 Page 10 5:30 p.m.