HomeMy WebLinkAboutReso. 1980 - 039 - Agreeing to exchange of property tax revenues for territories annexed to the City of Redding • • •
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RESOLUTION NO. 50---3'9
A RESOLUTION. OF THE CITY COUNCIL OF THE CITY OF REDDING
AGREEING TO EXCHANGE OF PROPERTY TAX REVENUES FOR TERRI •
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TORIES ANNEXED TO THE CITY OF REDDING.
WHEREAS, subparagraph (b) of Section 99 of the :Revenue •
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and Taxation Code requires the Board of Supervisors and the City
Council toagree to the exchange of property tax revenues with
respect to property annexed to the- City after July 24 , 1979 , and
WHEREAS, a number of annexations have been completed
but for the agreement on distribution of taxes, and
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- WHEREAS, property owners, inhabitantsand others have
assumedand acted on the assumption that said annexations 'were
complete, and
.: WHEREAS, the County and City mutually agree that a 'speedy •
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resolution of the issue with respect to territories previously •
annexed is in the community' sbest interest,
NOW, THEREFORE, BE .IT RESOLVED. that the Board of Super-
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visors and City Council agree that for annexations to the City of
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Redding after July' 24 ,- 1979 , which have been completed except for
a resolution' of . property` tax distribution,' and for Annexation No,.
79-•16 which has not yet been approved by the Local Agency Forma-
tion Commission, the- property tax shall be distributed as follows:..
. (a) Inhabited .Territory = property tax, bothsecured and
• unsecured,, for inhabited territories as' defined by Government
Code Section 35088 ';(territory within which there resided ,i2 or
more registered voters at -the time preliminary proceedings were
initiated) shall be. distributed. to the City in an amount suffi- ,v
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cient to insure' that the annexed property earns the same percentage
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of total tax as was earned by other property in the City prior to
January 1, 1979.
(b) Uninhabited Territory - property tax, both secured and
• unsecured, for uninhabited territory shall be distributed as
. follows: •
(1) Base Year Tax - the base 'year tax as defined in
Revenue and Taxation Code Section 9,8 (f) shall continue to be dis-
tributed in the same manner as in the fiscal year previous to •
annexation. •
(2) Annual Tax Increment - that portion of the tax as
defined in Revenue and Taxation Code 'Section <97r(13 resulting from
increases in assessed valuation over -the base year valuations shall
be distributed to the City of Redding in an amount sufficient to
insure that the annexed property earns the same percentage of total
tax as was earned by other property in the City prior to January 1,
• 1979. •
BE IT FURTHER RESOLVED that 'annexations recorded by the
end of the calendar year (December 31) shall be entitled to distri-
bution of property taxes from and after the first day of the next
succeeding fiscal year (July 1) .
BE IT FURTHER RESOLVED that 'the County Auditor be notified
of this Resolution pursuant to subparagraph (b) of Section 99 of the
above referenced Code.
I HEREBY CERTIFY that the foregoing Resolution 'wasintro-
• duced and read at a special meeting of the City Council of the .City
of Redding on the 10th day of March, 1980 , and was duly adopted a.-C-
said meeting by the following vote: :.
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AYES:. COUNCILMEN: Fulton, Gard, Kirkpatrick, Pugh, and Demsher
NOES: COUNCILMEN: None
ABSENT: COUNCILMEN: None '
DONALD M. DEMSHER
Mayor of the City of Redding
AT'T'EST
' MILDRED L. Cit Clerk
FORM` r "ROVED: .
• li DALL A. HAYS, ity ttorney
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