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2014-068 - Related to the City's Prior Approval of the Second Amendment
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2014-068 - Related to the City's Prior Approval of the Second Amendment
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11/18/2014 11:17:59 AM
Creation date
11/18/2014 11:16:38 AM
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City Clerk
Doc Type
Resolution
Doc #
2014-068
Date
10/21/2014
Destruction Year
P
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agency incremental value in tax rate areas assigned <br />to former redevelopment agencies, shall be <br />determined ( "Jurisdictional SFF Revenue Figure "). By <br />way of example, for FY 2012/13 this determination <br />would be made by (1) taking, for each tax rate area in <br />the SFF Jurisdiction, the total assessed value of the <br />tax rate area as reported in the Auditor Controller <br />TRA Summary Detail Reports for the secured, <br />unsecured, SBE, and homeowner's exemptions, (2) <br />multiplying the total assessed value by 1%, and (3) <br />multiplying the product by the Authority's share of the <br />general levy tax rate in the tax rate area as stated in <br />the "Auditor Controller Report AT68AH71 Section 99 <br />Factor Report by TRA," which would yield property tax <br />revenue allocated from that tax rate area to the <br />Authority. This calculation would be made for all tax <br />rate areas within the SFF Jurisdiction, and the results <br />would be added together to yield the Jurisdictional <br />SFF Revenue Figure. <br />b. The total Assessed Value, net of successor agency <br />former project area incremental value (AV), for the <br />SFF Jurisdiction shall be determined (the <br />"Jurisdictional AV Figure "). <br />c. The Jurisdictional AV Figure shall be multiplied by 1% <br />to determine the total value of the 1 % basic levy of <br />the SFF Jurisdiction for the fiscal year (the <br />"Jurisdictional Basic Levy Figure "). <br />d. The Jurisdictional SFF Revenue Figure shall be <br />divided by the Jurisdictional Basic Levy Figure for the <br />955601.1 5 <br />
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