HomeMy WebLinkAboutReso. 1988-037 - Involving property tax transfers between the county of Shasta and the city of redding for the tarmac road reorganization RESOLUTION NO. 9$1, 1
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 TARMAC ROAD REORGANIZATION INVOLVING ANNEXATION OF
TERRITORY TO THE CITY OF REDDING AND DETACHMENT OF SAME FROM SHASTA
COUNTY FIRE PROTECTION ZONE #1.
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 negotiate an appropriate property tax transfer for all jurisdic-
tional changes of organization that results in the annexation of land to the
City of Redding prior to the proposal being considered by the Local Agency
Formation Commission (LAFCO); and
WHEREAS, the current distribution of property taxes within the affected
tax rate area(s) 74.035 is as follows:
.264628050 % Shasta County's Share
.0705674802% Affected District's Share
.6648044693% 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 above captioned affected agencies have a combined tax
apportionment factor of .3351955302% 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,
WHEREAS, Annexation 87-3, Tarmac Road, is an uninhabited annexation,
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:
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1. BASE TAX REVENUE
A. "Base year tax" as defined in Revenue & Taxation Code shall be
distributed as follows:
(1) To the County in the same manner as in the fiscal year of
annexation.
(2) 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 or 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.
.3351955302% = Total of Affected Agencies Tax Apportionment Factors
54% = County Share .1810055863
46% = City Share .15418994389
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 2nd day
of February , 1988, and was duly adopted at said meeting by the
following vote:
AYES: COUNCIL MEMBERS: Carter , Fulton , Gard , Johannessen , & Dahl
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: None
ABSTAIN: COUNCIL MEMBERS: None
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MIKE�; Mayor
City of Redding
ATTEST:
` 0. 77, e
ETHEL A. NICHOLS, City Clerk
FORM APPROVED:
f-e-d€e(#.
RAHAYS, City ttorney
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