HomeMy WebLinkAbout1992-12-01; City Council; 11975; CORRECTION TO EXHIBIT FOR COMMUNITY FACILITIES DISTRICT NO. 1 1992-93 ANNUAL TAX RATEcc CL a 4
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MTG. 12/1/92 CORRECTION TO EXHIBIT FOR COMMUNITY FACILITIES C17
cn DEPT. FIN DISTRICT NO. 1 1992-93 ANNUAL TAX RATE
RECOMMENDED ACTION:
Accept corrected Exhibit 1 to Agenda Bill #11,760, which established the 1992-93 an
tax for the Community Facilities District No. 1 on June 23,1992.
ITEM EXPLANATION:
On June 23,1992 agenda bill #11,760 came before Council to set the 1992-93 amua
for the Community Facilities District (CFD) No. 1. Council approved Resolution 92
which established the 1992-93 annual tax rate for CFD No. 1. An error occurred in Ex
1 to the agenda bill, which is the tax rate schedule showing tax rates for each land
category.
The tax rate area I, property type RLM, maximum tax for fiscal year 1991-92 was $772
is incorrectly shown in Exhibit 1 as $722. Since the error follows across the row.
original amounts and correct amounts are shown below:
Orininal Corrected
Property Type RLM RLM
Max Tax 1991-92 $722 772 Tax Levied 1991-92 534 571 Max Tax 1992-93 744 795 Proposed Tax Rates 92-93 550 588
Percent of Max Tax Increase 0.00% 0.00%
In Resolution 92-198, the 1992-93 CFD No. 1 rates were "determined and established a
forth in the attached, referenced and incorporated Exhibit "A"." Exhibit "A" listed f
assessor's parcel number and a specific dollar amount for each parcel. The dollar amo
in Exhibit "A" reflect the correct amount of $588 per developable acre for the RLM land
category. The correct tax amounts were delivered to the San Diego County Auditor
Controller and placed on the 1992-93 tax rolls.
FISCAL IMPACE
There is no fiscal impact from this action. Correct CFD tax rates were established in Exl
"A" to Resolution 92-198.
EXHIBITS:
1. Corrected Tax Rate Schedule showing tax rates for each land use category.
TAX RATE AREA I
MAXTAX* TAXLEVIED MAXTAX* TAXRATES
PROPERTYTYPE: FY 91 -92 FY 1991 -92 PI 92-93 FY 1992-93
PI
OF
IN
(DE
RES1 DENTIAL:
RL $281
RLM 772
RM 1,294
RMH 1,984
RH 2,793
(74% OF MAX TAX) (74% OF MAX TAX)
$208 $289 $21 4
571 795 588
1,468 2,044 1,512
958 1,333 986
2,067 2,077 2,129
NON- RESIDENTIAL
COMMERCIAL
INDUSTRIAL
(17.01% OF MAX TAX) (38.37% OF MAX TAX)
$2,400 $408 $2,472 $949
1,200 204 1,236 474
TAX RATE AREA II
MAX TAX* TAX LEVIED MAX TAX* TAX RATES
PROPERTYTYPE: FY 91 -92 FY 1991 -92 FY 92-93 FY 1992-93
RESIDENTIAL: (74% OF MAX TAX) (74% OF MAX TAX)
RL $277 $205 $285 $21 1
RLM 760 562 783 579
RM 1,217 901 1,254 928
RMH 1,868 1,382 1,924 1,424
RH 2,739 2,027 2,821 2,088
P
OF
IN
(DE
NON- RESIDENTIAL: (17.01% OF MAX TAX) (38.37% OF MAX TAX)
COMMERCIAL $1,600 $272 $1,648 $632
i INDUSTRIAL 960 163 989 379