HomeMy WebLinkAboutReso 94-185 - Approve resolution involving Property Tax Transfers between County of Shasta and COR for the COR reorganization No. 94-1 (Oasis Rd Area) RESOLUTION NO.
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDING APPROVING A
RESOLUTION INVOLVING PROPERTY TAX TRANSFERS BETWEEN THE COUNTY OF
SHASTA AND THE CITY OF REDDING FOR THE CITY OF REDDING REORGANIZATION NO.
94-1 (OASIS ROAD AREA)
WHEREAS, Revenue and Taxation Code 99, Section 56842, as subsequently amended, provides for the
Shasta County Board of Supervisors and the City of Redding to determine an appropriate property tax transfer
for all jurisdictional changes of organization occurring within Shasta County prior to the proposal being
considered by the Local Agency Formation Commission (LAFCO); and
WHEREAS, the current distribution of property taxes for the affected properties within the affected tax
rate areas 082-011 and 082-091 are as follows:
29.2424% Shasta County's Share
19.3182% City of Redding Share
51.4394% Nonaffected District's Share
100.0000%; and
WHEREAS, Revenue and Taxtion Code 99, Section 56842, as subsequently amended, requires that
nonaffected local agencies' percentage share will remain constant; and
WHEREAS, the affected local agencies have a combined tax apportionment factor of 48.5606% which
is subject to negotiation for a tax exchange as a result of the proposed change of organization or reorganization;
and
WHEREAS, the County of Shasta and the City of Redding wish to agree to a fair-share distribution of
remaining property tax revenues,
NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of Redding DOES
HEREBY AGREE to the following formula for property tax distribution within the affected area after change of
organization/reorganization, including modifications to the annexation area that are approved by LAFCO:
1. BASE TAX REVENUE
"Base year tax" as defined in Revenue &Taxation Code shall be distributed as follows:
(1) To the County, 100% of the base year tax allocated to the County in the fiscal year of
annexation.
(2) To the City, 0% of the base year tax allocated to the County in the fiscal year of
annexation.
(3) The base year tax revenue of any affected Special District for which service
responsibilities are being transferred from the Special District to the City as a result of
the change of organization shall be distributed to the City.
2. ANNUAL TAX INCREMENT REVENUE
Annual tax increment as defined in Revenue & Taxation Code resulting from increases in
assessed valuation over the base year valuations shall be distributed between the City of Redding
and the County as follows:
(1) To the County, 100% of the annual tax increment otherwise allocated to the County.
(2) To the City 0% of the annual tax increment otherwise allocated to the County.
s
(3) The annual tax increment revenue of any affected special district for which service
responsibilities are being transferred from the special district to the City as a result of
the change of organization or reorganization shall be distributed to the City.
3. OTHER SPECIAL DISTRICT REVENUES
In recognition of debt incurred by County Service Area #1 (CSA #1) - Fire Protection for fire
protection and suppression equipment purchased on behalf of the territory being transferred by
reorganization, the City will pay annually to CSA #1, until the existing debt is retired, an
amount equal to the "Measure B" parcel charges billed in the reorganization areas in the fiscal
year of reorganization.
I HEREBY CERTIFY that the foregoing resolution was introduced and read at a regular meeting of the
City Council of the City of Redding on the 5th day of July, 1994, and was duly adopted at said meeting by the
following vote:
AYES: COUNCIL MEMBERS: P. Anderson, Kehoe, McGeorge, Murray and R. Anderson
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: None
ABSTAIN: COUNCIL MEMBERS: None
OBERT C. ANDERSON, Mayor
ATTEST:
CONNIE STROHMAYER, Ci k
FORM APPROVED:
RA*DALL A. HAYS, ity Attorney