HomeMy WebLinkAboutReso 92-187 - Approve a resolution involving Prop Tax Transfers between the County of Shasta & COR for the COR reorganization No. 91-6 (Hawley Rd Area) RESOLUTION NO.%-/1'
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.
91-6 (HAWLEY ROAD AREA)
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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 068-004, 068-008, 136-014 and 136-026 is as follows:
29.3209035% Shasta County's Share
6.6855771% City of Redding Share
63.9935194% Nonaffected District's Share
100.000000%; 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 36.00648% 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
li 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:
i, (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
'I 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.
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(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.
j I HEREBY CERTIFY that the foregoing resolution was introduced and read at a regular meeting of the
j City Council of the City of Redding on the 21stday of April , 1992, and was duly adopted at said
meeting by the following vote:
AYES: COUNCIL MEMBERS: Anderson, Arness, Dahl & Moss
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: None
ABSTAIN: COUNCIL MEMBERS: Kehoe
'---�Yer--diarlie Mossk
City of Redding
ATTEST:
1"Zii,
CONNIE STROHNIAYER, City
II' FORM APPROVED:
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ALL A. HAY , Ci Attomey
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