HomeMy WebLinkAboutReso. 1990-523 - Involving Property Tax Transfers between County of Shasta and City of Redding for Reorganization No. 90-9 (Kisling Road area) . - � �
RESOLUTION N0. ��/
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDD�ING INVOLVING
PROPERTY TA}S TRANSFERS BETWEEN THE COUNTY OF SHASTA AND THE CITY OF
REDDING FOR THE CITY OF REDDING REORGANIZATION N0. 90-9 (KISLING ROAD
AREA)
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 tax transfer for a1:L jurisdic-
t.ional chanyes of organization occurring within Shasta County pr.ior 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 areas 115-004, 115-016, and 115-017
are as follows:
31.02081� Shasta County's Share
7.09614� County Service Area No. 1 - Fire Service
61.88305� Nonaffected District' s Share
100.00000� and
WHEREAS, Senate Bill 180 {Chapter 801) requires that nonaffected 1oca1
ayencies percentage share will remain constant; and
WHEREAS, the affected local agencies have a combined tax apportionment
factor of 38. 11694 which is subject to negotiation for a ta:c 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 LAF'CO:
1.. BASE TAX REVENUE
a. "Base year tax" as defined in Revenue & Ta�cation Code snall be
distributed as follows: 3,,
i
(1) To the County, 75$ of the base year tax allocated to the �
County in the fiscal year of annexation. �
��
"�
�
- 1 -
12ESCIi�IDID BY RESOLlPrION i1r91-509
- - � � � .
(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 5pecial Districi
for which service responsibilities are being transferrec
from the Special District to the City as a result of thc
change of organization shall be distributed to the City.
2. ANNUAL TAX INCREMENT REVENUE
Annual tax increment as defined in Revenue & Taxation Code resultin<
Erom increases in assessed valuation over the base year valuation:
shall be distributed between the City of Redding and the County on e
proportionate basis, utilizing all the tax increment revenue avail-
abl.e from each of the agencies affected by the change of organiza-
tion, including the County and any Special Districts on the basis oi
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 6th da}
of NOvember , 1990, and was duly adopted at said meeting by the followin<
vote:
�IYES: COONCIL MEMBERS: AY'I125S , Dahl , Moss & Buffum
NOES: COUNCIL MEhIBERS: None
ABSENT: COUNCIL MEMBERS: FUlt01l
ABSTAIN: COUNCIL MEMBERS: NOn2
i
��" q
NC f3U �• , M r
City Redding
ATTEST:
C.i(�Nw-� C,C . ��
F.THEL A. NICHOLS, City Clerk
FORM APPROVED:
R� A. A� C.it Attorney
- 2 -
TEA:90-9.CC