Title
Library Director recommending the Board receive and file notification of a 2.8% increase in the library parcel tax in South Lake Tahoe (Zone F) and Georgetown (Zone G) in the amount of $16.34 per parcel for Fiscal Year 2008-2009 exclusively for library services within each respective zone.
RECOMMENDED ACTION: Approve.
FUNDING: Library Parcel Tax.
Body
BUDGET SUMMARY: |
|
|
Total Estimated Cost |
|
$ 445,000 |
|
|
|
Funding |
|
|
Budgeted |
$ 445,000 |
|
New Funding |
$ |
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Savings |
$ |
|
Other |
$ |
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Total Funding Available |
$ 445,000 |
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Change To Net County Cost |
|
$ 445,000 |
Fiscal Impact/Change to Net County Cost: No change to Net County Cost.
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 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.
Reason for Recommendation: The most recently available Consumer Price Index indicates an increase of 2.8% from February 2007 to February 2008. The 2007-2008 tax of $15.90 per parcel would increase 2.8% to $16.34 per parcel.
Based on parcel counts, the Library anticipates parcel tax revenue of $370,000 in South Lake Tahoe and $75,000 in Georgetown. This revenue is included in the 2008-2009 Proposed Budget.
Action to be taken following Board approval:
Auditor to place the library parcel tax on the 2008-2009 tax roll.
Contact: Jeanne Amos, x5546