HomeMy WebLinkAboutReso 92-051 - Prop tax transfers between County of Shasta & the COR for COR reorganization No. 90-14 (Fairway Oaks Mobile Home Estates) RESOLUTION NO.
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDING INVOLVING PROPERTY
TAX TRANSFERS BETWEEN THE COUNTY OF SHASTA AND THE CITY OF REDDING FOR
THE CITY OF REDDING REORGANIZATION NO. 90-14 (FAIRWAY OAKS MOBILE HOME
ESTATES)
WHEREAS, Assembly Bill 8 (Chapter 282) Statutes 1979, 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
area 115-017 is as follows:
30.43505% Shasta County's Share
6.94478% County Service Area No. 1 — Fire Service
62.62016% Nonaffected District's Share
100.00000%
WHEREAS, Senate Bill 180(Chapter 80 1) requires that nonaffected local agencies'percentage share will
remain constant; and
WHEREAS, the affected local agencies have a combined tax apportionment factor of 37.37983% 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:
a) To the County, 100%of the base—year tax allocated to the County in the fiscal year of annexation.
b) To the City, 0% of the base—year tax allocated to the County in the fiscal year of annexation.
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c) 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
1 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:
a) To the County, 100% of the annual tax increment otherwise allocated to the County.
b) To the City, 0% of the annual tax increment otherwise allocated to the County.
c) 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.
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 4th day of February 1992 and was duly adopted
at said meeting by the following vote:
AYES: COUNCIL MEMBERS: Arness, Fulton, Moss & Dahl
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: None
ABSTAIN: COUNCIL MEMBERS: None
MIKE DAHL, Mayor
City of Redding
ATTEST:
CONNIE STROHMAYER, City Cl
FORM APPROVED:
R +ALL A. HAYS, City Att ey