Title
Authorize the County Assessor to file a Grant Application on behalf of the County of Monterey with the California Department of Finance under the State-County Assessors' Partnership Program in the annual amount of $200,000, with the county matching, on a dollar-for-dollar basis, for FY 2014-15.
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors:
Authorize the County Assessor to file a Grant Application on behalf of the County of Monterey with the California Department of Finance under the State-County Assessors' Partnership Program in the annual amount of $200,000, with the county matching, on a dollar-for-dollar basis, for FY 2014-15.
SUMMARY/DISCUSSION:
The State of California has established a three-year pilot program to selected representative counties in order to ensure more accurate assessment of local property. It is believed that, a more accurate assessment process will reduce otherwise escaped valuation and help offset the State's General Fund obligations to local K-14 schools and offices of education. The success of the program shall be determined by enhanced statewide implementation of local equalization by properly valuing property, and thereby capturing property tax revenues for local K-14 school and offices of education that might otherwise escape recognition and collection in an amount that is not less than the total amount of General Fund revenues expended to fund the pilot program. If selected as a successful participant, Monterey County shall be required to annually match, on a dollar-for-dollar basis, the Program Grant funds apportioned to Monterey County. Program funds provided by the State must be used to supplement, and not supplant, existing funding.
Monterey County Assessor's office is seeking to apply for $200,000 under this Grant Program for FY 2014-15 to help expedite the enrollment of properties that are newly constructed or that change ownership. The Monterey County Assessor's office seeks to hire...
Click here for full text