HomeMy WebLinkAboutReso. 1990-524 - Involving Property Tax Transfers between County of Shasta and City of Redding for Reorganization No. 90-10 (Posey Lane area)' � � •
RESOLUTION N0. �5�.�
A RESOLU'PION OF THE CITY COUNCIL OF THE CITY OF REDDING INVOLVING
PROPERTY TAi{ TRANSFERS BETWEEN THE COUNTY OF SHASTA AND 'PHE CITY OF
REDDING FOR THE CITY OF REDDING REORGANIZATION N0. 90-10 (POSEY LANE
AREA)
WHEREAS, Assembly Bi11 8 (Chapter 282) Statutes i979, as subsequently
amended, provides for the Shasta County Board of Supervisors and the City of
Redding to determ:ine an appropriate property ta:c transfer for a11 jurisdic-
tional changes of organization occurring w.i.thin Shasta County orior to the
proposal being considered by the Loca1 Agency Formation Cotmnission (LAFCO) ;
and
WHEREAS, the current distribution of property taxes for the affected
properties within the affected tax rate area 136-026 is as follows:
29.9435� Shasta County' s Share
6.2147� County Serv.ice Area No. 1 - Fire Service
63.8418� Nonaffected District' s Share
100.00000� 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 36. 1582� which is subject to negotiatio❑ for a tax exchange as a
result of the proposed change of organization or reorganizat.ion; and
WtIEREAS, the County of Shasta and the City of Redding wish to agree to a
Eair 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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RESCI[�IDE[� BY RFSOLUTION #91-510
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(2) To the City, 25�a of the base year tax allocated to the
County in the fiscal year oE annexation.
(3) The base year tax revenue of any affected Special District
for wh.ich �ervice 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. ANNUFIL TAX INCREMENT REVENUE
Annual ta�t increment as defined in Revenue & Taxation Code resulting
from increases in assessed valuation over the base year valuations
sha11 be distributed between the City of Redding and the County on a
proportionate basis, utilizing a11 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.
Z 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 day
of iJoveinber , 1990, and was duly adopted at said meeting by the following
vote:
AYES: COUNCZL MEMBERS: ArIl25S , Dahl , MOSS & Quffum
NOES: COUNCIL MEMBERS: NOne
ABSENT: COUNCIL MEMBERS: FU1COf1
ABSTAIN: COUNCIL MEMBERS: NOIl2
:�G� /f
N Y�BUF UM, �Mayyjy
City o �� edding
F�TTEST:
��p� � ����,
ETHEL A. NICHOLS, City Clerk
FORM APPROVED:
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l211 ALL A. HAYS, 'ity ttorney
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