HomeMy WebLinkAboutReso. 1989-347 - Involving the property tax transfers between the county of shasta and the city of redding If
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RESOLUTION NO. !.3 ff. J 7
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. 89-2 (SOUTH HAWLEY
ROAD)
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 jurisdic-
tional 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) 074-001 and 136-026 is as
follows:
29.16920650% Shasta County's Share
6.65136792% County Service Area No. 1 - Fire Service
64.17942558% 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 35.82057442% 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 distribu-
tion 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.
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(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.
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 on a
proportionate basis, utilizing all the tax increment revenue avail-
able from each of the agencies affected by the change of organiza-
tion, including the County and any Special Districts on the basis of
54% to the County of Shasta and 46% to the City of Redding.
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 17th day
October !
of , 1989, and was duly adopted at said meeting by the following
vote:
AYES: COUNCIL MEMBERS: Buffum, Dahl , Fulton, Johannessen, & Carter
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: None
ABSTAIN: COUNCIL MEMBERS: None
7/4°44SCOTT CARTER, Mayor
City of Redding
ATTEST:
e€e-eat.yiee.$6,.•
ETHEL A. NICHOLS, City Clerk
FORM APPROVED:
.601.9
'1 PALL A. HAYS, City A orney
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