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EXHIBIT “B”
CITY OF FONTANA
COMMUNITY FACILITIES DISTRICT NO. 37
(MONTELAGO)
RATE AND METHOD OF APPORTIONMENT OF SPECIAL TAXES
(Summary – Full text available in the Financial Services Division)
The Resolution of Annual Levy refers to this Exhibit for an explanation of the rate and method of apportionment of the special tax so as to allow each landowner or resident within the district to estimate the annual amount that would be required for payment.
A Special Tax shall be levied on all Assessor’s Parcels of Taxable Property in City of Fontana Community Facilities District No. 37 (“CFD No. 37”) and collected each fiscal year commencing in Fiscal Year 2005-2006, in an amount determined by the City Council of the City of Fontana (the “Council”) through the a pplication of the appropriate Special Tax for “Developed Property,” and “Non -Residential Property.” All o f the real property in CFD No. 37 , unless exempted by law or by the provisions hereof, shall be taxed for the purposes, to the extent and in the manner herein provided.
The rate and method of apportionment of the special tax for 2022-2023 shall be as follows.
I. SPECIAL TAXES FOR PUBLIC IMPROVEMENTS:
Maximum Actual Tax
Annual Tax Rate Tax Rate Amount
Land Use Class Unit FY 2022-2023 FY 2022-2023 FY 2022-2023
1 - Greater than 3,700 sq ft Unit $2,918.00 $1,892.46 $83,268 2 - 3,450 - 3,699 sq ft Unit 2,575.00 1,670.01 63,460 3 - 3,200 - 3,449 sq ft Unit 2,395.00 1,553.27 55,918 4 – Less than 3,200 sq ft Unit 2,138.00 1,386.59 34,665
$237,311
Method of Apportionment of Special Tax A
Commencing with Fiscal year 2005-2006 and for each following Fiscal Year, the Council shall determine the Special Tax Requi rement for Facilities and shall levy Special Tax A until the total Special Tax A levy equals the Special Tax Requirement for Facilities. The Special Tax A shall be levied each Fiscal Year as follows:
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First: Special Tax A shall be levied proportionately on each Assessor’s Parcel of Developed Property in an amount equal to 100% of the applicable Assigned Special Tax A;
Second: If additional monies are needed to satisfy the Special Tax Requirement for Facilities after the first step has been completed, the Special Tax A shall be levied Proportionately on each Assessor’s Parcel of Undeveloped Property at up to 100% of the Maximum Special Tax A for Undeveloped Property;
Third: If additional monies are needed to satisfy the Special Tax Requirement for Facilities after the first two steps have been completed, then the levy of Special Tax A on each Assessor’s Parcel of Developed Property whose Maximum Special Tax is determined through the application of the Backup Tax A shall be increased in equal percentages f rom the Assigned Special Tax A up to the Maximum Special Tax A for each such Assessor’s Parcel;
Fourth: If additional monies are needed to satisfy the Special Tax Requirement for Facilities after the first three steps have been completed, then Special Ta x A shall be levied Proportionately on each Assessor’s Parcel of Taxable Property Owner Association Property at up to the Maximum Special Tax A for Taxable Property Owner Association Property;
Fifth: If additional monies are needed to satisfy the Special Tax Requirement for Facilities after the first four steps have been completed, then Special Tax A shall be levied Proportionately on each Assessor’s Parcel of Taxable Public Property at up to the Maximum Special Tax A for Taxable Public Property;
Notwithstanding the above the Council may, in any Fiscal year , levy Proportionately less than 100% of the Assigned Special Tax A in step one (above), when (i) the Council is no longer required to levy the Special Tax A pursuant to steps two through five above in order to meet the Special Tax Requirement for Facilities, and (ii) all authorized Bonds have already been issued or the Council has covenanted that it will not issue any additional Bonds (except refunding bonds) to be supported by the Special Tax A.
Further notwithstanding the above, under no circumstances will the Special Tax A levied against any Assessor’s Parcel of Residential Property for which a Certificate of Occupancy has been issued be increased by more than ten percent as a consequence of delinquency or default by the owner of any other Assessor’s Parcel within CFD No. 37.
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II. SPECIAL TAXES FOR MAINTENANCE OF PARK, PARKWAYS, AND
OPEN SPACE
Maximum Annual Actual
Tax Rate Tax Rate Tax Amount
Land Use Class Unit FY 2022-2023 FY 2022-2023 FY 2022-2023
1 – Final Residential Subdivision Unit $1,190.21 $607.00 $86,801 5 – Non-Residential Property Acre 5,117.88 2,610.00 0
$86,801
Commencing July 1, 2006, and each July 1 thereafter, the Maximum Special Tax rates for Special Tax B for Residential Property, and Non-Residential Property shall be increased by two percent (2%).
Method of Apportionment of Special Tax B
Commencing with Fiscal Year 2005-2006 and for each following Fiscal Ye ar, the Council shall levy Special Tax B until the total Special Tax B levy equals the Special Tax Requirement for Services. Special Tax B shall be levied each Fiscal Year as follows:
First: Special Tax B shall be levied proportionately on each Assessor’s Parcel of Developed Property at up to 100% of the applicable Assigned Special Tax B for such Assessor’s Parcel;
Second: If additional monies are needed to satisfy the Special Tax Requirement for Services after the first step has been completed, then the levy of the Special Tax B on each Assessor’s Parcel of Developed Property shall be increased in equal percentages from the Assigned Special Tax B up to the Maximum Special Ta B for each such Assessor’s parcel.