Consent Calendar Item 4jg
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 Kenwood Meadows Sewer Maintenance District
STAFF RECOMMENDATION:
Approve the 2022-23 Property Tax Assessment for the Kenwood Meadows Sewer Maintenance District.
EXECUTIVE SUMMARY:
The Kenwood Meadows Sewer Maintenance District was formed by Council Resolution 97-12 in June of 1997 to support the annual operations and maintenance of the Sewer Lift Station and Sewer Pressure Main. The maintenance district serves Lots 20 through 38 of Phase 2 and Lots 39 through 51 of Phase 3 of Kenwood Meadows Subdivision. Per the original resolution, the costs of operating and maintaining the lift station and pressure main will be borne by the developed parcels within the subdivision. At this time, there are 30 parcels that are either developed or currently being developed, 19 in Phase 2 and 11 in Phase 3.
Staff has estimated that the assessment for the 2022-23 fiscal year should be $98.80 per parcel which represents a decrease of $48.37 (forty eight dollars and thirty-seven cents) from last year’s assessment. The large decrease is due to the full depreciation of Kenwood Meadows assets, including items such as pumps, control panels, and other equipment that has lasted longer than its originally estimated life expectancy. As these items are replaced in future years the depreciation of those assets will start again and will subsequently increase the assessment back to historic levels.
Staff has included a copy of the rate calculation for your review.
RECOMMENDED COUNCIL ACTION:
Approve the 2022-23 Property Tax Assessment for the Kenwood Meadows Sewer Maintenance District. Consent Agenda vote.
ATTACHMENTS:
Assessment Rate Calculation