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COUNTY OF SAN MATEOInter-Departmental Correspondence |
Controller's Office |
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DATE: |
August 27, 2002 |
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BOARD MEETING DATE: |
September 24, 2002 |
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TO: |
Honorable Board of Supervisors |
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FROM: |
Tom Huening, Controller |
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SUBJECT: |
Adoption of Tax Rates for Fiscal Year 2002-2003 |
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Recommendation |
Adopt by resolution the rates of taxes on the secured roll for Fiscal Year 2002-2003. |
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Background |
Since the passage of Proposition 13, the County is required to set tax rates for general obligation bonds approved by the voters for taxing jurisdictions within the County. |
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Discussion |
Pursuant to the provisions of Government Code Section 29100, your Board is required to adopt by resolution the rates of taxes on the secured roll on or before the first business day of each October 3. The Controller has calculated such rates for the Fiscal Year 2002-2003 based on a net assessed valuation of $84,205,485,006. The 2002-2003 tax rates are set forth in the attached schedules for adoption by your board. |
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Vision Alignment |
The adoption of Tax Rates for the County keeps the commitment of responsive, effective, collaborative government and advances Vision Goal number 22: County and local governments effectively communicate, collaborate and develop strategic approaches to issues affecting the entire County. This collaborative effort provides stability to the schools and other governmental agencies in our County . |
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Fiscal Impact |
If the tax rates are not set, the taxing jurisdictions will not be able to meet their required debt service requirements. |