Title
Library Director recommending the Board receive and file notification of a 2.2% increase in the library parcel tax in South Lake Tahoe (Zone F) and Georgetown (Zone G) resulting in a fee of $17.58 per parcel for Fiscal Year 2012-2013 to be used exclusively for library services within each respective zone.
FUNDING: Library Parcel Tax.
Body
BUDGET SUMMARY: |
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Total Estimated Revenue
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$495,000 |
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Funding
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Budgeted
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$495,000 |
New Funding
. |
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Savings
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Other
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Total Funding Available
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$495,000 |
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Change To Net County Cost
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$0 |
Fiscal Impact/Change to Net County Cost
No change to Net County Cost. The South Lake Tahoe Library is funded primarily from taxes and charges for services (96%) with a Net County Cost of $21,558 (4%). The Georgetown Library is also funded primarily from taxes and charges for services (85%) with a Net County Cost of $17,498 (15%).
Background
Resolutions 361-2004 and 362-2004, approved by the Board on November 30, 2004, proposed a special tax for library services for South Lake Tahoe (Zone F) and Georgetown (Zone G). This tax was approved by the voters on March 8, 2005. The Resolutions state the tax rate is to be increased annually in proportion to the increase in the Consumer Price Index, San Francisco Area, most recently available prior to the date of the increase, provided that the increase does not exceed three percent (3%).
Reason for Recommendation
The most recently available Consumer Price Index (CPI), San Francisco Area indicates an increase of 2.2% from April 2011 to April 2012. The 2011-2012 tax of $17.20 per parcel would increase 2.2% to $17.58 per parcel in 2012-2013. The CPI for California for the same period indicates an increase of 1.6%. The CPI for the U.S. City Average increased by 2.4%. Based on parcel counts, the Library anticipates parcel tax revenue of $410,000 in South Lake Tahoe and $85,000 in Georgetown. This revenue is included in the 2012-2013 Proposed Budget.
Action(s) to be taken following Board approval
Auditor-Controller to place the library parcel tax on the 2012-2013 tax roll.
Contact:
Jeanne Amos, x5546
Concurrences: N/A