Consent Calendar Item 4je
STAFF REPORT
City Council Consent Item
DATE: August 1, 2022
TO: Honorable Mayor and Council Members
FROM: Aaron Felmlee, Finance Director
THROUGH: Merritt Perry, City Manager
SUBJECT: Approve the Annual Property Tax Assessment for Forest Hills Estates Water Booster Station Maintenance District
STAFF RECOMMENDATION:
Approve the 2022-23 Property Tax Assessment for the Forest Hills Estates Water Booster Station Maintenance District.
EXECUTIVE SUMMARY:
The Forest Hills Estates Water Booster Station Maintenance District was formed by Council Resolution 2003-02 in February 2003 to support the annual operations and maintenance of the Water Booster Station. The maintenance district serves Lots 1 through 40 of the Forest Hills Estates subdivision. All 40 lot owners will be assessed the levy. The fee will change if the service area is enlarged to include additional parcels or if parcels within the service areas are further subdivided or developed with more than one single family residence. In either case, the yearly user fee will be reapportioned appropriately.
Staff has estimated that the assessment for the 2022-23 fiscal year should be $588.58 per parcel, which represents an increase of $306.63 (three hundred six dollars and sixty-three cents) from last year’s assessment. Last fiscal year was the third and final year staff implemented an adjustment on the districts unreserved fund balance. Staff’s goal was to to reduce the operating reserve amount of the district to 1-years worth of estimated operating expenditures which was achieved with the adjustments the last 3 fiscal years. Prior to the adjustments, in FY 2018-19, the per parcel assessment was $580.13 or $8.45 less than the proposed 2022-23 assessment.
Staff has included a copy of the rate calculation for your review.
RECOMMENDED COUNCIL ACTION:
Approve the 2022-23 Property Tax Assessment for the Forest Hills Estates Water Booster Station Maintenance District. Consent Agenda vote.
ATTACHMENTS:
Assessment Rate Calculation