HomeMy WebLinkAboutReso. 1989-072 - Involving property tax transfers I
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RESOLUTION N0. � I
I INVOLVITVG PROPERTY TAX TRANSFERS BETWEEN THE CITY
d OF REDDING AND THE COUNTY OF SHASTA FOR THE
1i CITY OF REDDING REORGANIZATION NO. 88-6 (METRO)
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� WHEREAS, Assembly Bill 8 (Chapter 282) Statutes 1979 , as
;; � subsequently amended, provides for the City Council of the City
,�[ of Redding and the Shasta County Board of Supervisors to
''li�; determine an appropriate property tax transfer for all
' jurisdictional changes of organization occurring within Shasta
��i County prior to the proposal being considered by the Local Agency
,i' Formation Commission (LAFCO) ; and
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WHEREAS, the current distribution of property taxes within
� the affected tax rate area (s) 136-013 , 024 , and �29 is as
follows: ;
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�; 30.278393690 Shasta County' s Share
;'; 7 .4 53 69 43 72� Affected District " s 5hare �
� 62 .26791194% Nonaffected District ° s Share
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� 100 .00000000� and j
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° WHEREAS, Senate Bill 180 (Chapter 801) requires that E
ii nonaffected local agencies percentage share will remain constant; i
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��; WHEREAS, the above captioned affected agencies have a
�'�' combined tax apportionment factor of 37. 73208806� which is �
, subject to negotiation for a tax exchange as a result of the i
proposed change of organization or reorganization; and I,
WHEREAS, the City of Redding and the County of Shasta wish I
� to agree to a fair share distribution of remaining property tax
� revenues,
+�I NOW, THEREFORE, BE IT RESOLVED, that the City Council of the
I City of Redding DOES HEREBY AGREE to the following formuia for j
�� property tax distribution �aithin the affected area after change �
of organization/reorganization: �
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'� ' 1) BASE TAX REVENUE ,
ii a) "Base year tax" as defined in Revenue & Taxation '
Code shall be distributed as follows: I
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�I ' 1) To the County in the same manner as in the
N , fiscal year of annexation. ;
i2) The base year tax revenue of any affected �
i�. Special District for which service
' responsibilities are being transferred from the �
;��� Special District to the City as a result of the t�
;, change of organization shall be distributed to , �p
�� the City. ' ��1
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'� 2) ANNUAL TAX INCREMENT REVENUE �
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'i Annual tax increment as defined in Revenue & Taxation
i�„ Code resulting from increases in assessed valuation over �
(�; the base year valuations shall be distributed between �
�� the affected City and the County on a proportionate �
basis, utilizing all the tax increment revenue available
� from each of the agencies affected by the change of
organization, including the County and any Special
Districts on the basis of 54� to the County of Shasta �
,, and 46� to the City involved in the change or �
organization. ��
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� ' 0 .3773208806 = Total of P.ffected Agencies Tax ,
� Apportionment Factors �
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i" 540 = County 5hare 0 .2037532755
460 = City Share 0 .1735676051 ',
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G�; I HEREBY CERTIFY that the foregoing resolution was i
�I introduced and read at a regular meeting of the City Council of �
�' the City of Redding on the 7th day of March, 1989, and was
duly adopted at said meeting by the following vote: �
� AYES: COUNCIL MEMBERS: Buffum, Dahl , Fulton, and Johannessen �
� NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: Carter ,, ,
�� ABSTAIN: COUNCIL MEMBERS: None '
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� MAUR CE JOHANNESSEN, Mayor
C�y of Redding i
�� ATTEST: �
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ETHEL A. NICHOLS, City Clerk ;
i FORM APPROVED: ��
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i DALL A. HAYS, Ci of Redding
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