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Chief Administrative Office recommending the Board adopt and authorize the Chair to sign Resolution 086-2020 accepting the exchange of property tax increments for the annexation of 159 parcels into the El Dorado County Fire Protection District service area, Local Agency Formation Commission Project 2020-01.
FUNDING: N/A
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DISCUSSION / BACKGROUND
The "Island" Annexation, Local Agency Formation Commission Project No. 2020-01, will annex 159 parcels, existing currently as eleven land "islands" within the County, into the El Dorado County Fire Protection District service area. The annexation triggers the requirement under the law to redistribute property tax increments applicable to the property being annexed. The parcels are identified by Assessor’s Parcel Number as listed in the Assessor’s Report (attached).
The recommended distribution reflects a reduction to agencies that currently receive a portion of property tax revenue, in order to allocate a share of the property tax increment (recommended at 10%) to the El Dorado County Fire Protection District.
In accordance with Revenue and Taxation Code Sections 99 and 99.01, negotiations have been completed regarding the redistribution of the property tax increments applicable to this parcel. El Dorado County Fire Protection District would accept a 10% share of the property tax increment. Due to several “islands” affected by the proposed annexation, the reductions to the agencies vary by Tax Rate Area. For each, 10% was allocated to the Fire Protection District, 2.6667% was allocated to the public water district (El Dorado Irrigation District, Georgetown Divide Public Utility District), if applicable, and each other agency was reduced in proportion to the current allocation. The exception to this is Island A, where 10% was allocated to the Fire Protection District and 3.6013% was allocated to Georgetown Divide Public Utility District. Other details of the proposed exchange of tax increment for each island...
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