Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Tax Increment topic
No spam. Unsubscribe anytime.
Board hears clarification: URA tax increment calculated by county assessor, not a fixed city rate
Summary
Board members asked whether a specific tax rate must be declared with the budget motion; staff (Judy) explained URA tax increment is based on frozen value and calculated by the county assessor, so a city-set percentage is not required for the URA budget motion.
During questions after the staff report, a board member asked whether the budget motion must declare a specific tax rate. Staff replied that the URA does not use a city-set percentage for the increment; instead, the increment is based on a frozen base value and is calculated by the county assessor.
Judy, a staff participant on the Zoom call, explained, “We don't have a specific rate for the URA. It's because it's based on the frozen value that's not a percent of… Not based on a dollar amount or anything like that. It's calculated by the tax assessor.” Board members agreed that including a tax increment declaration in the motion could be done to be thorough, although staff said the declaration has not always been included historically.
The exchange clarified that the URA's increment collection is administrative and tied to assessor calculations; a future motion could explicitly incorporate a tax increment declaration for added certainty if the board prefers.
