Title
Library Director recommending the Board receive and file notification of a 3% increase in the library parcel tax in South Lake Tahoe (Zone F) and Georgetown (Zone G) in the amount of $15.44 per parcel for fiscal year 2007-2008 exclusively for library services within each respective zone.
RECOMMENDED ACTION: Approve.
Body
BUDGET SUMMARY: |
|
|
Total Estimated Cost |
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$ 445,000 |
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|
|
Funding |
|
|
Budgeted |
$ 445,000 |
|
New Funding |
$ |
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Savings |
$ |
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Other |
$ |
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Total Funding Available |
$445,000 |
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Change To Net County Cost |
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$ 0 |
Fiscal Impact/Change to Net County Cost: No change to net county cost. The Library's FY 2007-08 Proposed Budget anticipates parcel tax revenue of $370,000 in South Lake Tahoe and $75,000 in Georgetown.
Reason for Recommendation: The Board approved Resolutions 361-2004 and 362-2004 on November 30, 2004 proposing 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 that 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.
The most recently available Consumer Price Index indicates an increase of 3.3% from April 2006 to April 2007. The maximum increase is 3%, which applied to the 2006-07 tax of $15.44 establishes a 2007-08 tax of $15.90 per parcel.
Action to be taken following Board approval: Auditor to place tax on 2007-08 tax roll.
Contact: Jeanne Amos, x5546
Concurrences: