HomeMy WebLinkAbout1992-02-26; Municipal Water District; Informational; Governor's Property Tax ProposalCARLSBAD MUNICIPAL WATER DISTRICT - AGENDA BILL
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VITG.
3EPT. ADMIN.
TITLE:
GOVERNOR'S PROPERTY TAX PROPOSAL
DEPT. HD.
CITY ATTY
CITY MGR. ~
3ECOMMENDED ACTION:
None at this time.
at a future meeting with a staff recommendation.
This is for information only but may be presented
ITEM EXPLANATION:
Due to California's budget woes, the Governor has taken several drastic steps in an effort to balance the State's Budget. One of these actions is the proposal to shift property tax revenue from special districts to schools. This will have a serious impact on CMWD as well as special districts throughout California.
The Carlsbad Municipal Water District presently receives property tax
revenue. This revenue is dedicated to fixed asset replacement
projects. The revenue received last year amounted to approximately
$720,000.00.
ACWA has sent out survey forms for members to fill out pertaining to
what effects this proposal has on the District. Staff has filled out the form and returned it to ACWA. Staff expects ACWA to notify the District on future recommended action.
FISCAL IMPACT:
None
EXHIBIT:
None