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Committee forwards property tax rate ordinance setting combined rate at roughly $1.1801 per $100 for FY2019–20
Summary
The committee moved to the full Board an ordinance setting the combined property tax rate for the city and overlapping taxing entities at about $1.1801 per $100 of assessed value for FY2019–20; the controller's office and BLA summarized the components, estimated ask and tenant pass-through effects.
The Budget and Finance Committee advanced an ordinance setting the secured property tax rate for fiscal year 2019–20 at approximately $1.1801 per $100 of assessed value, which the Chair moved to the full Board with a positive recommendation.
Jamie Whitaker (identified in the transcript as the Controller's Office property tax manager) explained the calculation, noting that Prop. 13 sets a 1% base property tax and that the rates presented include additional factors to pay debt service on voter‑approved general obligation bonds. Whitaker said the proposed tax-rate factor approved by the BART board on Aug. 22 was incorporated into the ordinance. The transcript records an example applying the rate factor to a median assessed value (cited as about $560,000 last year) and an estimated change in a property tax bill of about $226 per year for that example.
The Budget Analyst recommended approval and noted the increase equals about 1.7 cents per $100 of assessed value for FY2019–20. The committee moved the ordinance to the full Board with a positive recommendation; the transcript contains no committee- recorded roll‑call vote.
