HomeMy WebLinkAboutReso 1989-169 - Property tax transfers between the city of redding and the county of shasta Ir!
• ~'R LUTION NO. S4-41
INVOLVING PROPE TAX TRANSFERS BET T CITY
OF REDDING AND THE COUNTY OF SHASTA FOR THE
CITY OF REDDING REORGANIZATION NO. 88-5 (COUNTRY OAKS)
WHEREAS, Assembly Bill 8 (Chapter 282) Statutes 1979, as
subsequently amended, provides for the Shasta County Board of
Supervisors and any affected city 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 (s) 136-024,
025, and 029 is as follows:
30.14432528% Shasta County' s Share
7 .56882082% Buckeye Fire District ' s Share
62.28685390% Nonaffected District ' s Share
100 .00000000% and
WHEREAS, Senate Bill 180 (Chapter 801) requires that
nonaffected local agencies percentage share will remain constant;
and
WHEREAS, the above captioned affected agencies have a
combined tax apportionment factor of 37.71314610% which is
subject to negotiation for a tax exchange as a result of the
proposed change of organization or reorganization; and
WHEREAS, the City of Redding and the County of Shasta wish
to agree to a fair share distribution of remaining property tax
revenues,
NOW, THEREFORE, BE IT RESOLVED, that the City of Redding
City Council 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:
1) To the County, 75% of the base year tax
allocated to the County in the fiscal year of
annexation.
2) To the City, 25% 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.
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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 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.
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 16th day of May, 1989, and was duly i.
adopted at said meeting by the following vote:
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AYES: COUNCIL MEMBERS: Buffum, Dahl , Fulton, Johannessen and Carter
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: None
ABSTAIN: COUNCIL MEMBERS: None
de•6(1.# 2. 4SCOTT CARTER, Mayor
City of Redding
ATTEST:
Air/ -
EjEL A. NICHOLS, Cit/ lerk
rr Connie Strohmayer, As stant
FORM APPROVED:
• ,NDALL A. HAY , ity of Redding
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