HomeMy WebLinkAboutReso 92-082 - Approving Reso involving property tax transfers between the County of Shasta & the COR for COR reorganization No. 91-7 (Cleark Creek/Westside Rd Area) V`
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. 91-7 (CLEAR CREEK/WESTSIDE ROAD AREA)
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 areas 123-020 and 123-024 is as follows:
i
30.1834438% Shasta County's Share
6.8752890% County Service Area No. 1 - Fire Service
! 62.9412671% Nonaffected District's Share
100.0000000%; and
WHEREAS, Senate Bill 180 (Chapter 801) requires that nonaffected local
agencies' percentage share will remain constant; and
WHEREAS, the affected local agencies have a combined tax apportionment
factor of 37.0587328% 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
a. "Base year tax" as defined in Revenue & Taxation Code shall be
distributed as follows:
UCJ
l _
(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.
(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.
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 3rd day of
March 1992, and was duly adopted at said meeting by the following vote:
AYES: COUNCIL MEMBERS: Arness, Carter, Fulton & Moss
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: Dahl
ABSTAIN: COUNCIL MEMBERS: N e
l
C OSS, Vic -Mayor
City of Redding
ATTEST:
CONNIE STROHMAYER, ity Clerk
FORM APPROVED:
RANPALL A. HAYS, Cit Attorney c:\j\reso91-7.cc
- 2 -
i
i