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Agenda Item
ASR
Control 19-000873 |
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MEETING DATE: |
09/10/19 |
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legal entity taking action: |
Board of Supervisors |
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board of supervisors
district(s): |
All Districts |
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SUBMITTING
Agency/Department: |
Auditor-Controller
(Approved) |
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Department contact
person(s): |
Salvador Lopez (714) 834-2470 |
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JC Squires (714) 834-5521 |
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Subject: Adoption of FY 2019-20
Property Tax Rates
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ceo CONCUR |
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Clerk of the Board |
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Concur |
Approved Resolution to Form |
Consent Calendar |
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3 Votes Board Majority |
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Budgeted: N/A |
Current Year Cost:
N/A |
Annual Cost:
N/A |
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Staffing Impact: |
No |
# of Positions:
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Sole Source:
N/A |
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Current Fiscal Year Revenue: N/A
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Prior Board Action: 9/11/2018
#4 |
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RECOMMENDED ACTION(S):
Adopt the Fiscal Year 2019-20 Property Tax Rates as set forth in the attached Resolution and in Attachment 1 to the Resolution.
SUMMARY:
Adoption by resolution of the Fiscal Year 2019-20 Property Tax Rates for school districts and special districts with general obligation bond debt will allow compliance with Government Code Section 29100.
BACKGROUND INFORMATION:
Government Code Section 29100, Education Code Section 15250 and various special district enabling statutes require that the Board of Supervisors (Board) annually adopt property tax rates for the County, all school districts and certain locally governed special districts. The Board adopted the FY 2018-19 rates on September 11, 2018. 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 percent 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 FY 2019-20 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 2019-20 Resolution
Attachment B - Education Code 15250
Attachment C - Government Code 29100
Attachment D - Government Code 29103