The fiscal year 2010-2011 net cost of property tax administration was $14,393,707. This amounts to approximately .72% of all 2010-2011 property taxes levied countywide. This cost is allocated to each taxing entity in the County based on net revenues of each entity as a percentage of total revenues. School districts, community college districts, and the County Office of Education are exempt from cost recovery. As a result, the County absorbs the schools' share, which this year amounts to $5,247,226. The net recovery to the County is $6,509,624.
In 1997, the Board adopted Resolution 97/129 which provides procedures for property tax administrative cost recovery. The recommended actions are necessary for implementation of Resolution 97/129 for the current fiscal year.
The County would not recover $6,509,624 in property tax administrative costs.
CLOSED the public hearing; ADOPTED the report; and ADOPTED Resolution No. 2012/37 regarding the implementation of the property tax administrative cost recovery provisions of Revenue and Taxation Code section 95.3 for fiscal year 2011-2012.