Title
Body
MEMORANDUM
TO: Board of Supervisors
FROM: Cathy Saderlund
Auditor-Controller
DATE: September 10, 2018
SUBJECT: Resolution Fixing Tax Rates for Local Agencies, General Obligation Bonds and Other Voter Approved Indebtedness for Fiscal Year 2018/2019
EXECUTIVE SUMMARY:
Per Government Code §29100 the board shall adopt by resolution the rates of taxes on the secured roll. These rates shall not exceed the 1-percent limited specified in Article XIII A of the Constitution and Sections 93 and 100 of the Revenue and Taxation Code.
For all voter-approved indebtedness, the board shall adopt a rate sufficient to satisfy debt service requirements, including any necessary reserves. Voter-approved indebtedness rates are calculated annually by the Auditor-Controller and are available for review upon request. Those local jurisdictions surrounding Lake County with overlapping areas, such as community colleges, provide rates to the Auditor-Controller for submittal to your Board.
Submitted for your review and approval are the tax rates for the 2018/2019 property tax year.
FISCAL IMPACT: _X_ None __Budgeted __Non-Budgeted
Estimated Cost:
Amount Budgeted:
Additional Requested:
Annual Cost (if planned for future years):
FISCAL IMPACT (Narrative): Partial Cost Recovery
STAFFING IMPACT (if applicable): Annual process performed by Property Tax Division of Auditor-Controller/County Clerk.
Recommended Action
RECOMMENDED ACTION:
Adopt Resolution Fixing Tax Rates for Local Agencies, General Obligation Bonds and Other Voter Approved Indebtedness for Fiscal Year 2018/19.