Title
Support the request to:
a. Authorize the Assessor to continue to participate in the State-County Assessors' Partnership Program with the California Department of Finance; and
b. Approve and authorize the Auditor-Controller to release $200,000 from the Productivity Investment Program Assignment (Fund 001-3125) to match the $200,000 grant funds. (4/5th Vote Required)
Report
RECOMMENDATION:
It is recommended that the Budget Committee support the request to:
a. Authorize the Assessor to continue to participate in the State-County Assessors' Partnership Program with the California Department of Finance; and
b. Approve and authorize the Auditor-Controller to release $200,000 from the Productivity Investment Program Assignment (Fund 001-3125) to match the $200,000 grant funds. (4/5th Vote Required)
SUMMARY/DISCUSSION:
The State of California has established a three-year pilot program, beginning FY 2014-15 thru FY 2016-17, 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; thereby, capturing property tax revenues for local K-14 schools 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. Monterey County has been selected as a participant. To participate, Monterey County is required to 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.
On January 27, 2015, the Board approved the Assessor's participation in...
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