The fiscal year 2011-2012 net cost of property tax administration was $14,460,531. This amounts to approximately .71% of all 2011-2012 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 $7,081,782. The net recovery to the County is $5,652,644.
$14,460,531 = Total cost of property tax administration
-$7,081,782 = Exempt School share
-$1,726,105 = County share
$5,652,644 = Net recovery to the County
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 $5,652,644 in property tax administrative costs.
CLOSED the hearing; ADOPTED report from the Auditor-Controller; and ADOPTED Resolution No. 2013/96 regarding implementation of Revenue and Taxation Code §95.3 for fiscal year 2012/13.