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Consent-General Government # 17.
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| Board of Supervisors |
Financial Services |
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| Subject |
| Adopt resolution establishing Yolo County Property Tax Rates for 2019-20. (No general fund impact) (Rinde) |
| Recommended Action |
| Adopt resolution establishing the property tax rates for the 2019-20 fiscal year. |
| Strategic Plan Goal(s) |
| Operational Excellence |
| Reason for Recommended Action/Background |
California Government Code Section 29100 et seq. requires the Board of Supervisors to adopt the tax rates on the secured roll. Article XIIIA of the California Constitution and Sections 93 and 100 of the Revenue and Taxation Code limit the property tax rate for local agencies at 1%.
Other rates are set for voter-approved indebtedness to produce the amount necessary to finance the current year's debt service requirement. Tax rates for bonded indebtedness are calculated by dividing the amount required for debt service by the net assessed value of the property within the jurisdiction. The calculated rate may be modified to reflect delinquencies, anticipated changes in the tax roll, cash flow and other reserve requirements. These tax rates ensure that there will be sufficient funds to service bonded indebtedness within the county jurisdiction while complying with state laws. |
| Collaborations (including Board advisory groups and external partner agencies) |
| The Department of Financial Services collaborated with local jurisdictions surrounding Yolo County to provide or receive tax rates for overlapping areas. This included collaborating with Colusa County, Sacramento County, Solano County, Sutter County, and Yuba County. |
| Competitive Bid Process |
| Not applicable. |
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| Fiscal Impact |
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| Source of Funds for this Expenditure |
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