To: Board of Supervisors
Department or Agency Name(s): CRA
Staff Name and Phone Number: Deva Marie Proto
Vote Requirement: Informational Only
Supervisorial District(s): Countywide
Title:
Title
Assessment Roll 2019-2020
End
Recommended Actions:
Recommended action
Presentation of the 2019-2020 assessment Roll. (Informational Only)
end
Executive Summary:
The 2019-2020 Assessment roll contains the assessed valuation of all taxable real and business property on the local tax roll. This informational presentation is provided annually to the Board.
Discussion:
Detailed 2019-2020 Assessment Roll valuations results are described in the attached memorandum to the Board Chair from the Clerk-Recorder-Assessor. Overall roll values as of 1/1/2019 are 5.87% greater than 1/1/2018.
County Administrator’s FY 2019-20 Budget Impact Summary Discussion:
With increasing market values for properties that sold during calendar year 2018, using an annual consumer price index of 1.02% issued by the state for counties valuation, staff assumed a 4% property value growth as part of the Fiscal Year 2019-20 Adopted Budget. Staff estimates that the final Fiscal Year 2019-20 Assessed Value growth of 5.87% will result in the collection of approximately $4.4 million in additional property taxes over the 4% estimate in the Fiscal Year 2019-20 Adopted Budget. In accordance with the financial policies adopted by the Board in Fiscal Year 2019-20, 40% of the unanticipated funds, or about $1.8 million, will provide capacity to increase funding for deferred maintenance Capital Projects. The 1st Quarter budget update will recognize the additional revenues and program resources according to financial policies.
Prior Board Actions:
Annual information only presentations are received by the Board of Supervisors.
Fiscal Summary
Expenditures |
FY 18-19 Adopted |
FY19-20 Projected |
FY 20-21 Projected |
Budgeted Expenses |
|
|
|
Additional Appropriation Requested |
|
|
|
Total Expenditures |
|
|
|
Funding Sources |
|
|
|
General Fund/WA GF |
|
|
|
State/Federal |
|
|
|
Fees/Other |
|
|
|
Use of Fund Balance |
|
|
|
Contingencies |
|
|
|
Total Sources |
|
|
|
Narrative Explanation of Fiscal Impacts:
Unanticipated property tax revenues of approximately $4.4 million are estimated, and in accordance with the Board’s FY 2019-20 financial policies, 40% of this will be used to provide capacity to increase funding to Capital Projects. The 1st Quarter budget update will recognize the additional revenues and program resources according to financial policies.
Staffing Impacts: |
|
|
|
Position Title (Payroll Classification) |
Monthly Salary Range (A - I Step) |
Additions (number) |
Deletions (number) |
|
|
|
|
|
|
|
|
|
|
|
|
Narrative Explanation of Staffing Impacts (If Required):
Click or tap here to enter text.
Attachments:
Click or tap here to enter text.
Attachment 1: 2019-2020 Assessment Roll Memorandum to the Board of Supervisors’ Chair.
Attachment 2: Comparison Secured/Unsecured Value
Attachment 3: Comparison Incorporated/Unincorporated Value
Attachment 4: Comparison Cities Assessment Roll Values
Attachment 5: PowerPoint Presentation
Related Items “On File” with the Clerk of the Board:
NA