Title
Chief Administrative Office recommending the Board adopt and authorize the Chair to sign Resolution 015-2024 accepting the exchange of property tax increments for the annexation of one parcel (APN 088-031-061) into the Georgetown Divide Public Utility District service area, Local Agency Formation Commission Project 2023-01.
FUNDING: General Fund.
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DISCUSSION / BACKGROUND
The Brand Annexation to the Georgetown Divide Public Utility District, LAFCO Project No. 2023-01, will annex one 120-acre parcel (APN 088-031-061) into the Georgetown Divide Public Utility District service area. The annexation triggers the requirement under the law to redistribute property tax increments applicable to the property being annexed.
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. The recommended distribution reflects the following adjustments:
-A decrease in the increment provided to the County General Fund from 30.8314% to 26.4762%
-A decrease in the increment provided to the County Capital Outlay Fund from 0.7105% to 0.6101%
-A decrease in the increment provided to the Road District Tax from 3.4379% to 2.9523%
-A decrease in increment provided to CSA 7 from 2.3078% to 1.9818%
-A decrease in increment provided to Kelsey Cemetery District from 0.1315% to 0.1129%
-A decrease in increment provided to Garden Valley Fire Protection District from 7.6506% to 6.5699%
-A decrease in increment provided to Georgetown Divide Recreation District from 3.4267% to 2.9427%
-A decrease in increment provided to the County Water Agency from 1.1217% to 0.9632%
-An increase in increment provided to Georgetown Divide Public Utility District by 7.0090%.
There is no impact to the school agencies. Other details of the proposed exchange of tax increment are included in Exhibit 2023-01-A to the Resolution.
Pursuant to the application filed with LAFCO, ...
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