HomeMy WebLinkAboutReso. 1990-522 - Involving Property Tax Transfers between County of Shasta and City of Redding for Reorganization No. 90-8 (Hollow Lane) . .. � �
RBSOLUTION NO. ��.Z
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDTNG INVOLVING
PROPERTY TAX TRANSFERS BETWEEN 'PHE COUNTY OF SHFlSTA AND THE CITY OF
REDDING FOR THE CITY OF REDDING REORGANIZATION N0. 90-8 (HOLLOW LANE)
WHEREAS, Assembly Bill 8 (Chapter 282) Statutes 1979, as subsequently
amended, provides for the Shasta County Board of Supervisors and the City of
Redd.ing to determine an appropriate property ta:c transfer for a11 jurisdic-
tional changes of arganization occurring within Shasta County prior to the
proposal being considered by the Loca1 Agency Formation Commission (LAFCO) ;
and
wHEREAS, the current distribution of. property taxes for the affected
properties within the affected tax rate areas 068-004 and 136-000 is as
follows:
29.43188� Shasta County' s Share
6.70987� County Service Area No. 1 - Fire Service
63.85825� Nonaffected District' s Share
]00.00000� and
WHEREAS, Senate Bill 180 (Chapter 801 ) requires that nonaffected 1oca1
agenc.ies percentage share wi.11 remain constant; and
WHEREAS, the affected local agencies have a combined tax apportionment
factor oL 36. 1417�1$ which is subject to negotiation for a tax exchange as a
result of the proposed change of organization or reor9anization; 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,
i.ncluding 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 lear tax allocated to the ��
County in the fiscal year of annexation. �
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RFSCIi�ID13J BY RFSOLIPI'IpN #91-SOS
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( 2) To the City, 25� of the base year tax allocated to the
County in the Eiscal year of annexation.
(3) The base year tax revenue of any aLfected Special District
for which service responsibilities are being transferred
from the Special D.istrict to the City as a result of the
change of organization sha11 be distributed to the L'ity.
7_. ANNUAL TAi( INCREMENT REVENUE
Annual tax increme��t as defined .in Reverme & Taxation Code resulting
from .increases in assessed valuation over the base year valuat.ions
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 forego.ing resolution was introduced and read at
a regular meeting of the City Council of the City of Redding on the 6th day
of Plovember- , 1990, and was duly adopted at said meeting by the following
vote:
AYES: COUNCZL MEMBERS: AY'�255 , Ddhl , h1055 & BUffUm
NOES: COUNCIL MEMBERS: NOr12
ABSENT: COUNCIL MEMBERS: FUItOn
ABSTAIN: COUNCIL MEMBERS: NOne
/'
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NCY B��•F M, bl �r
ity Reddin
ATTEST:
�'���.����-�
ETHEL A. NICHOLS, City C1erk
FORM APPROVED:
RFl AI.L A. HAYS, City ttorney
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