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Approve the FY2023/24 Property Tax Administration Fee to recover the cost to administer property taxes from cities and local agencies in accordance with the Revenue and Taxation Code Section 95.3(f)
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Published Notice Required? Yes ____ No _X _
Public Hearing Required? Yes ____ No _X _
DEPARTMENTAL RECOMMENDATION:
The Auditor-Controller's Office (ACO) recommends the Board of Supervisors (Board) approve the Property Tax Administration Fee for FY2023/24 to recover the costs to administer property taxes from cities and local agencies in accordance with the Revenue and Taxation Code Section 95.3(f).
SUMMARY:
The Property Tax Administration Fee represents the total costs of the County to administer countywide property taxes. Revenue and Taxation Code ? 95.3(f) authorizes the County to recover the property tax administrative costs attributable to cities and local jurisdictions within the County, excluding schools and Education Revenue Augmentation Fund (ERAF). The ACO, Assessor-Recorder, Tax Collector/County Clerk/Treasurer, County Counsel and County Administrator's Office (by providing staff support to the Assessment Appeals Board) provide property tax administrative support. Their respective costs are included in the administrative fee calculation to determine the amount eligible for recovery from cities and other local jurisdictions.
The total allocable property tax administration cost for FY2023/24 is $8,494,756. The allocation to schools ($3,719,415) and General Fund ($1,363,640) are excluded. Therefore, the FY2023/24 recoverable amount for the County is $3,411,701.
FINANCIAL IMPACT:
The Property Tax Administration Fee revenue of $3,411,701 is included in the FY2023/24 Adopted Budget of the respective departments who provide the property tax administrative support. This represents an increase of $131,299 compared to the FY2022/23 Property Tax Administration Fee of $3,280,402 primarily due to an increase in expenditures.
The...
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