EXHIBIT “C”
CITY OF FONTANA
COMMUNITY FACILITIES DISTRICT NO. 74M
(Citrus/Summit)
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 f or 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 Pa rcels of Taxable Property in City of Fontana Community Facilities District No. 74M (“CFD No. 74M”) and collected each fiscal year commencing in Fiscal Year 2014-2015, in an amount determined by the City Council of the City of Fontana (the “Council”) throug h the application of the Rate and Method of Apportionment as described below. All of the real property in CFD No. 74M, 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 20 22-2023 shall be as follows.
I. SERVICES 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 $814.30 $495.00 $84,645
$84,645
Commencing July 1, 2014, and each July 1 thereafter, the Maximum Spe cial Tax rates for the Special Tax for Residential Property shall be increased by two percent (2%).
D. METHOD OF APPORTIONMENT OF THE SPECIAL TAX
Commencing with Fiscal Year 2014 -15 and for each following Fiscal Year, and prior to the final date on which the County Auditor will accept the levy for inclusion on the ad valorem real property tax roll for such Fiscal Year, the City Manager shall determine the Special Tax Requirement to be collected from Taxable Property in CFD No. 74M in such Fiscal Year. The Special Tax shall be levied as follows until the amount of the levy equals the Special Tax Requirement.
First: The Special Tax shall be levied in equal percentages on each Assessor’s Parcel of Developed Property up to 100% of the applicable Assigned Special Tax for such Assessor’s Parcel;
Second: If additional funds are needed to satisfy the Special Tax Requirement after the first step has been completed, then the Special Tax shall be levied on each Assessor’s Parcel of Undeveloped Property up to 100% of the Assigned Special tax for such Assessor’s Parcel;
Third: If additional funds are needed to satisfy the Special Tax Requirement after the first and second steps have been completed, then the Special Tax shall be levied on each assessor’s Parcel of Developed Property in eq ual percentages from the Assigned Special Tax up to the Maximum Special Tax for each such Assessor’s Parcel;
Fourth: If additional funds are needed to satisfy the Special Tax Requirement after the first, second, and third steps have been completed, then the Special Tax shall be levied on each Assessor’s Parcel of Undeveloped Property in equal percentages from the Assigned Special Tax up to the Maximum Special Tax for each such Assessor’s Parcel.