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EXHIBIT “B”
CITY OF FONTANA
COMMUNITY FACILITIES DISTRICT NO. 74B
(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. 74B (“CFD No. 74B”) and collected each fiscal year commencing in Fiscal Year 2016-2017, 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. 74B, 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 2023-2024 shall be as follows.
I. SPECIAL TAXES FOR PUBLIC IMPROVEMENTS:
Assigned Actual Tax
Special Tax Tax Rate Amount
Land Use Class (Square Feet) Unit FY 2023-2024 FY 2023-2024 FY 2023-2024
1 - Greater than 2,700 Unit $2,419.00 $2,419.00 $67,732 2 - 2,450 to less than 2,700 Unit 2,263.00 2,263.00 117,676 3 - 2,200 to less than 2,450 Unit 2,160.00 2,160.00 95,040 4 - 1,950 to less than 2,200 Unit 1,983.00 1,983.00 31,728 5 1,700 to less than 1,950 Unit 1,811.00 1,811.00 34,409 6- Less than 1,700 Unit 1,726.00 1,726.00 20,712
7- Non-Residential Property Acre 21,775.00 21,775.00 0 Undeveloped Mapped Acre 25,617.00 25,617.00 0
$367,297
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Method of Apportionment of Special Tax
Commencing with Fiscal year 2016-2017 and for each following Fiscal Year, the CFD Adminis trator shall determine the Special Tax Requirement for Facilities and shall provide for the levy of the Facilities Special Tax each Fiscal Year as follows:
First: The Special Tax shall be levied on each Asses sor’s Parcel of Developed Property in an amoun t equal to 100% of the appl icable Assigned Facilities Special Tax;
Second: If additional monies are needed to satisfy the Special Tax Requirement for Facilities after the first step has been completed, the S pecial Tax shall be levied Proportionately on each Assessor’s Parcel of U ndeveloped Property at up to 100% of the Maximum Facilities Special Tax 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 the Special Tax on each Assessor’s Parcel of Developed Property whose Maximum Special Tax is determined through the application of the Backup Special Tax shall be increased in equal percentages from the Assigned Special Tax up to the Maximum Special Tax for each such Assessor’s Parcel;
Fourth: If additional monies are needed to satisfy the Special Tax Requirement after the first three steps have been completed, then the Special Tax shall be levied Proportionately on each Assess or’s Parcel of Taxable Public Property and Taxable Pro perty Owner Association Property at up to 100% the Maximum Special Tax A for Taxable P ublic Property and Taxable Property Owner Association Property, as needed to satisfy the Special Tax Requirement;
Notwithstanding the above the C FD Administrator shall, in any Fiscal Year, calculate a levy Proportionately less than 100% of the Assigned Special Tax in step one (above), when (i) the CFD Administrator is no longer required to provide for the levy of the S pecial Tax pursuant to step s two through four above in order to meet the Special Tax Requirement for Facilities; and (ii) all authorized CFD No. 74B Bonds have already been issued or the Council has covenanted that it shall not issue any additional CFD No. 74B Bonds (except refunding bonds) to be supported by the Facilities Special Tax.
Further notwithstanding the above, under no circumstances shall the Special Tax levied against any Assessor’s Parcel of Resid ential Property for which a occupancy permit for private residential use has been issued (in accordance with Section 53321(d)(3) of the California Government Code), be increased as a consequence of delinquency or default by the owner of any other Assessor’ s Parcel within CFD No. 74B by more than ten p ercent above the amount tha t would have been levied in that Fiscal Year had there never been any such delinquencies or defaults. To the extent that the levy of the Special Tax on Residential Property is limited by the provision in the previous sentence, th e levy B-3
of the Special Tax o n each Assessor’s Parcel of Non -Residential Property shall continue in equal percentages up to 100% of the applicable Maximum Special Tax.