Title
Approve Property Tax Transfer for the proposed "Mission Linen Reorganization" involving annexation of 2.99 acres to the City of Pacific Grove and detachment from the Monterey County Resource Conservation District.
Report
RECOMMENDATION
It is recommended that the Board of Supervisors take the following actions:
Approve Property Tax Transfer for the proposed "Mission Linen Reorganization" involving annexation of 2.99 acres to the City of Pacific Grove and detachment from the Monterey County Resource Conservation District.
SUMMARY
The Monterey County Local Agency Formation Commission (LAFCO) is in receipt of a reorganization proposal involving annexation of the 2.99 acre Mission Linen property to the City of Pacific Grove and detachment from the Monterey County Resource Conservation District. The proposal cannot be considered by LAFCO until a property tax transfer has been approved by the City and County.
DISCUSSION
Regarding the property tax transfer, the Board of Supervisors has previously adopted a pro forma "fair share" tax transfer resolution. The resolution provides that the County and affected agencies would transfer a percentage of their "tax base revenue" based on the pro rata share of the City's equivalent tax rate to the combined City/County equivalent tax rates. The formula has been revised to reflect the County's loss of property tax revenue that was imposed by the State during fiscal year 1993-94. Non-affected jurisdictions would retain their percentage share of property taxes collected within an affected tax code area. Of the total amount of property taxes available for distribution, the City of Pacific Grove would receive 45.52% and the County would receive 54.48%. In addition, the City would receive a portion of property tax attributed to the Pebble Beach Community Services District as agreed to in the City/PBCSD MOU.
OTHER AGENCY INVOLVEMENT
The attached resolution was previously approved as to form by County Counsel. The Auditor-...
Click here for full text