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COUNTY OF SAN MATEO
Inter-Departmental Correspondence
Controller
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DATE:
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August 10, 2010
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BOARD MEETING DATE:
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September 14, 2010
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SPECIAL NOTICE/HEARING:
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None
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VOTE REQUIRED:
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Majority
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TO:
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Honorable Board of Supervisors
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FROM:
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Tom Huening, Controller
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SUBJECT:
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Fixing the Rates of County and District Taxes for Fiscal Year 2010-2011
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RECOMMENDATION:
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Adopt a Resolution fixing the rates of County and District taxes for Fiscal Year 2010-2011.
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BACKGROUND:
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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:
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Pursuant to the provisions of Government Code Section 29100, the Board of Supervisors is required to adopt by resolution the rates of taxes on the secured roll on or before each October 3rd. The Controller has calculated such rates for the Fiscal Year 2010-2011 based on a net assessed valuation of $133,195,073,410. The 2010-2011 tax rates are set forth in the attached schedules for adoption by the Board.
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Approval of this Resolution contributes to the Shared Vision 2025 outcome of a Collaborative Community by permitting the taxing entities in the County to meet their required debt service requirements, which allows these entities to meet community need.
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County Counsel has reviewed and approved the Resolution as to form.
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Performance Measure(s):
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Measure
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FY 2009-2010 Actual
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FY 2010-2011
Projected
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Number of Tax Apportionments
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210
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210
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FISCAL IMPACT:
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No fiscal impact on County budget. If the tax rates are not set, the taxing jurisdictions will not be able to meet their required debt service requirements.
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