Adopt County-wide tax rate or fiscal year 2020-2021

Number:

469/2020

Department:

Auditor/Controller

Description:

Auditor-Controller: Adopt resolution adopting County-wide Tax Rate for Fiscal Year 2019-2020. (Five minute estimate)

Recommendation:

Adopt resolution fixing the general countywide property tax rates for fiscal year 2020-2021







Background



California State Government Code Section 29102 requires the Board of Supervisors to adopt the rate of taxation on the secured tax rolls and any allowance for delinquencies



Discussion



The countywide secured tax rate is set by statutes at 1% of the assessed value of the property. The rates for ad valorem tax assessments are calculated by the Auditor-Controller’s Office for any school or special district based on debt service obligations, legal statutes, or other criteria and usually factor in a projected delinquency rate. For certain districts that assess property within Yuba County but the controlling agency is not headquartered in Yuba County, the Auditor-Controller of the respective county provide the rates. These rates are used to determine the ad valorem assessments on real property for the current fiscal year.



Committee Action:



Not taken to committee due to time constraints. Government Code requires the rates be adopted prior to October 3rd of each year



Fiscal Impact:



The secured property tax collections are the largest source of discretionary revenue available to the Board of Supervisors to fund County operations. Not setting the rates could have significant fiscal ramifications. The fiscal impact is based on the secured tax revenue estimates presented in the 2020-2021 Preliminary Budget.



General Fund: $ 13,800,000

Non-General Fund: None

Source of Funds: Secured property tax collections





Attachments



Fiscal Year 2020-2021 Countywide tax rates