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Oxnard staff recommends 5.0615¢ per $100 property tax to fund public-safety pensions for 2025–26
Summary
City of Oxnard finance staff recommended the city council adopt a resolution setting a 5.0615¢ per $100 property tax rate to cover voter-approved public safety pension obligations for fiscal year 2025–26, citing CalPERS costs, an actuarial estimate of eligible expenses, and unitary property revenue that reduces the levy needed from other parcels.
Jim Costello, an administrative services analyst in the City of Oxnard finance department, told the council the recommendation is that the council adopt a resolution establishing the fiscal year 2025–26 tax rates on property in the City of Oxnard to pay voter-approved public safety pension obligations.
Costello said the City’s public-safety pension tax stems from a 1951 voter measure that enrolled Oxnard’s fire and police employees in the California Public Employees’ Retirement System (CalPERS) and obligated the City to pay participation costs through a property tax levy. He noted that the levy is treated as voter-approved indebtedness under the California Supreme Court’s Carmen v.…
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