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HomeMy WebLinkAbout1992-12-01; City Council; 11975; CORRECTION TO EXHIBIT FOR COMMUNITY FACILITIES DISTRICT NO. 1 1992-93 ANNUAL TAX RATEcc CL a 4 2 0 F 0 a $ z 3 0 0 rrc j qY OF CARLSBAD - AGWA BILL AB # !Ii q7 5 TITLE: DEI 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