The fiscal year 2013-2014 net cost of property tax administration was $14,262,983. This amounts to approximately .66% of all 2013-2014 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 $6,931,194. The net recovery to the County is $5,600,317.
$14,262,983 = Total cost of property tax administration
-$6,931,194 = Exempt School share
-$1,731,472 = County share
$5,600,317 = Net recovery to the County
In 1997, the Board adopted Resolution No. 97/129, which provides procedures for property tax administrative cost recovery. The recommended actions are necessary for implementation of Resolution No. 97/129 for the current fiscal year.
The County would not recover $5,600,317 in property tax administrative costs.
CLOSED the public hearing; ADOPTED the report; and ADOPTED Resolution No. 2015/36 making findings and determinations regarding the property tax administrative cost recovery provisions of Revenue and Taxation Code section 95.3 for fiscal year 2014-2015.