Consent-General Government # 13.
Board of Supervisors
Financial Services
- Meeting Date:
- 08/31/2021
- Brief Title
- 2021-22 Property Tax Rates
From:
Chad Rinde, Chief Financial Officer, Department of Financial Services
Staff Contact:
Chad Rinde, Chief Financial Officer, Department of Financial Services, x8050
Supervisorial District Impact:
Subject
Adopt resolution establishing Yolo County Property Tax Rates for 2021-22. (No general fund impact) (Rinde)
Recommended Action
Adopt resolution establishing the property tax rates for the 2021-22 fiscal year.
Strategic Plan Goal(s)
 |
In Support of All Goals (Internal Departments Only) |
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 property 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.
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.
Fiscal Impact
No Fiscal Impact
Fiscal Impact (Expenditure)
- Total cost of recommended action:
- $
- Amount budgeted for expenditure:
- $
- Additional expenditure authority needed:
- $
- On-going commitment (annual cost):
- $
Source of Funds for this Expenditure
- General Fund
- $0
Attachments
Form Review
| Inbox | Reviewed By | Date |
|---|---|---|
| Financial Services | crinde | 08/23/2021 01:25 PM |
| County Counsel | Hope Welton | 08/23/2021 01:39 PM |
| Eric May | Eric May | 08/23/2021 03:29 PM |
- Form Started By:
- crinde
- Started On:
- 08/09/2021 11:10 AM
- Final Approval Date:
- 08/23/2021