Agenda Item   

AGENDA STAFF REPORT

 

                                                                                                                        ASR Control  16-001057

 

MEETING DATE:

09/13/16

legal entity taking action:

Board of Supervisors

board of supervisors district(s):

All Districts

SUBMITTING Agency/Department:

Auditor-Controller   (Approved)

Department contact person(s):

Eric H. Woolery (714) 834-2457 

 

 

Frank Davies (714) 834-3015

 

 

Subject:  Adoption of FY 2016-17 Property Tax Rates

 

      ceo CONCUR

County Counsel Review

Clerk of the Board

Concur

Approved Resolution to Form

Consent Calendar

 

 

3 Votes Board Majority

 

 

 

    Budgeted: N/A

Current Year Cost: N/A

Annual Cost: N/A

 

 

 

    Staffing Impact:

No

# of Positions:

Sole Source: N/A

    Current Fiscal Year Revenue: N/A

  Funding Source: N/A

County Audit in last 3 years: No

 

 

    Prior Board Action: 9/01/2015 #4

 

RECOMMENDED ACTION(S):

 

Adopt the Fiscal Year 2016-17 Property Tax Rates as set forth in the attached Resolution and in Attachment 1 to the Resolution.

 

 

 

 

SUMMARY:

 

Pursuant to Government Code Section 29100, the Auditor-Controller recommends adoption, as required by the County Board of Supervisors, of the Fiscal Year 2016-17 Property Tax Rates for school districts and special districts with general obligation bond debt.

 

 

 

BACKGROUND INFORMATION:

 

Property Tax Rates

Government Code Section 29100, Education Code Section 15250, and various special district enabling statutes require that the Board of Supervisors annually adopt property tax rates for the County, all school districts, and certain locally governed special districts.  The Board adopted the FY 2015-16 rates on September 1, 2015.  Government Code Section 29103 states that it is the responsibility of the auditor to calculate the tax rates.  These property tax rates consist of the 1% basic levy tax rate allowed under Proposition 13 which is distributed to all property tax receiving entities in accordance with applicable provisions of the Revenue and Taxation Code and property tax rates to cover voter-approved general obligation bonded indebtedness.

 

The voter-approved bonded debt property tax rates for the school districts and certain special districts are computed by taking the bond debt service principal and interest payments due during the year plus a reserve for principal and interest payments due in the following fiscal years, subtracting conservative estimates of non-tax revenues available to the debt service funds such as interest and carryover fund balances, and dividing by the districts' assessed value.  The computations are adjusted to compensate for estimated roll changes, refunds, and property tax payment delinquencies.  For certain school districts adjustments are also made for disputed assessed valuations of property due to assessment appeals.

 

The attached Resolution contains the Fiscal Year 2016-17 Property Tax Rates, detailed in Attachment 1 to the Resolution.

 

 

 

 

FINANCIAL IMPACT:

 

N/A

 

 

 

STAFFING IMPACT:

 

N/A

 

 

 

ATTACHMENT(S):

 

Attachment A - Property Tax Rates 2016-17 Resolution
Attachment B - Ed Code 15250
Attachment C - Govt Code 29100
Attachment D - Govt Code 29103