Original Tax Calculation Per Feasibility Study
(Property Tax 3,028,526 x 40.0% )+(Measure C/G Sales Tax 2,875,836 x 41.5% )= 2,404,882.34 Calculation Using Expected Measure C/G revenue for FY24/25 (Property Tax 3,028,526 x 40.0% )+(Measure C/G Sales Tax 3,776,800 x 41.5% )= 2,778,782.40 Calculation Using Budgeted Measure C/G revenue for FY24/25 (Property Tax 3,028,526 x 40.0% )+(Measure C/G Sales Tax 3,776,800 x 31.0% )= 2,382,218.40 Calculation Using Expected Measure C/G revenue for FY24/25 and adjusted percentage. (Property Tax 3,028,526 x 40.0% )+(Measure C/G Sales Tax 3,860,727 x 31.0% )= 2,408,235.77
ATTACHMENT E
Summary of Original and Corrected Sales Tax Sharing Calculations.