Title
Auditor-Controller recommending the Board adopt and authorize the Chair to sign Resolution 138-2016 establishing the 2016/17 rate of the Tax Levy for the taxing agencies in the County of El Dorado.
Body
DEPARTMENT RECOMMENDATION
Auditor-Controller recommends the Board adopt the attached Resolution 138-2016 establishing the 2016/17 rate of the Tax Levy for the taxing agencies in the County of El Dorado.
DISCUSSION / BACKGROUND
Government Code (§29100) requires that the Board of Supervisors annually fix the rates necessary for each local taxing agency in the county. The tax rates for your adoption include a countywide Basic Tax Rate of $1.00 on each $100.00 of net assessed valuation as well as various other tax rates needed to meet the debt service requirements of various voter-approved bond issues.
The 1%, Proposition 13 - General Tax Levy is set by the State Constitution. All other rates are related to debt service and are calculated based on several factors; primarily Equalized Assessed Values and the Debt Service Payment.
ALTERNATIVES
NA
OTHER DEPARTMENT / AGENCY INVOLVEMENT
NA
CAO RECOMMENDATION
Chief Administrative Office concurs with the department recommendation.
FINANCIAL IMPACT
There is no fiscal impact.
FOLLOW UP ACTIONS
Auditor-Controller will ensure that the taxes are levied.
STRATEGIC PLAN COMPONENT
CONTACT
Joe Harn