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HomeMy WebLinkAboutRESOLUTIONS - 01011992 - 1992-155 N THE BOARD OF SU 'F Z fJRYVI OF C0ITRA COSTA COUNTY, .STATE OF CALIF©RXIA ADOPTED this order on March It 1992 by the 'following vote: AYES: Supervisors Powers, Fanden Schroder, Torlakson,: M'cPeak NOES: Norte ABSENT: None ABSTAIN• None R88OLuTION No. ;%21155 SUBJECT: Determination of Property Tax} Exchange for the Crystyl } Ranch Annexation to the: ) City of Concord } (LAFC 92-8) } WORRIM, Section 99 of the Revenue Taxation Code provides that a'City and County shall ;agree by 'resolution to exchange property tax revenues among themselves and any 'affected agencies in the event of a jurisdiction change; and WHEREAS, the Crystyl Ranch .Annexation to the City of Concord (LAFC 92-8) involving annexation of 'territory to the City of 'Concord is excluded from the application of the master property tax transfer agreement between the City and the County because the assessed value of the affected territory exceeds $10,000,000; and WHEREAS the City of Concord and the County have agreed that, notwithstanding the amount of the assessed value of the territory of the subject annexation, the master property 'tax transfer agreement shall 'apply to the annexation subjectto the condition that the total amount of property tax revenues the City is to receive from the County in any tax year pursuant to ;the provisions of the master agreement from the territory of the subject annexation shall be reduced by an 'amount equal to the sum of the sales tax revenue and transient occupancy tax ,revenue in excess of '.$5,000 received by the City during the preceding tax year from the area annexed. Any such reduction, however, shall not result in a "negative transfer", i.e. , a;, net transfer from City to County. The total amount of transient occupancy tax and sales tax revenue received by the City from the territory of the subject annexation during the preceding tax year, as specif ied above,' shall be reported to the County Auditor-Controller by August 1 of each year, and the Auditor-Controller shall' have the right to audit the City's books to verify such amount. WON THEREFORE BE IT BY 'THE BOARD OF SUPERVISORS OF CONTRA COSTA COUNTY RESOLVED that in accordance with Section 99 of the Revenue and Taxation Code the property tax transfer for the aff acted agencies in the area of the Crystyl Ranch Annexation to the City of Concord (LAFC 92-8) shall be in accordance with :the master property tax agreement subject to thesales and' transieEnt occupancy tax offset condition specified above. Said property tax transfer agreement applies to the affected territory as submitted orrevised the Local Agency Formation Commission. This resolution does not change the property tax revenues'accruing to other agencies serving the subject territory or the affected districts' rights to collect taxes for existing bonded indebtedness I hereby certify that the foregoing is a true and correct copy of an order entered on the minutes of the Board of Supervisors of the date aforesaid. Witness my hand and Seal of the'Board of Supervisors affixed on this qday of March ;1992. Phil Batchelor, Clerk of the Board of Supervisors' and County Administrator BY Deputy Clerk' cc: County Administrator Auditor-Controller County Counsel Local Agency Formation Commission City of Concord l 5 RESOLUTIOB H0. %2/