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COUNTY OF SAN MATEOInter-Departmental Correspondence |
County Counsel |
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DATE: |
March 17, 2003 |
BOARD MEETING DATE: |
April 8, 2003 |
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TO: |
Honorable Board of Supervisors |
FROM: |
Thomas F. Casey III, County Counsel |
SUBJECT: |
Correction of Property Tax Roll, APN 008-521-160, 205 Cerro Drive, Daly City, California |
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Recommendation |
Approve a change to the 2002-2003 tax roll, and a corresponding tax refund to Amberwood Housing Investors, LP ("Amberwood"), to reflect the granting of a welfare exemption for the property located at 205 Cerro Drive, Daly City. |
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Background |
Amberwood owns the above-referenced property on Cerro Drive and uses it for low-income housing. Pursuant to sections 214, 270 and 271 of the California Revenue & Taxation Code, upon proper application, Amberwood is entitled to a welfare exemption from property taxation because it uses the Cerro Drive property for low income housing. |
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Discussion |
Amberwood applied for a welfare exemption for the Cerro Drive property for the 2002-2003 tax year, which the State Board of Equalization ("SBE") initially denied due to Amberwood's failure to properly document its exemption claim. Thereafter, Amberwood corrected the documentary deficiencies and the SBE granted the exemption. |
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As a result of the granting of a welfare exemption, the County property tax roll for 2002-2003 should be corrected. Because the correction will result in a tax dollar decrease of $96,255.64 to the 2002-2003 roll (and a corresponding property tax refund in this amount), the approval of this Board is required. |
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Vision Alignment |
The implementation of this proposal will further commitments and assist in achieving goals set forth in the County's Shared Vision 2010 report. Specifically, this proposal implements the commitment of providing "responsive, effective, and collaborative government." Similarly, the instant proposal will help the County to achieve the goal of ensuring that "[h]ousing exists for people of all income levels and for all generations of families." |
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Fiscal Impact |
The fiscal impact of this action is estimated to be a $96,255.64 decrease in the 2002-2003 roll, and a corresponding property tax refund of the same amount. The County's General Fund share of the refund is 14% of the decrease (i.e., approximately $13,475.79). |