Committee endorses revised land‑use change tax language, adds $100,000 cushion for conservation fund

Finance staff walked the committee through the revised fiscal policy (R2026‑34) updated to respond to a councilor's request about criteria for the land use change tax. The staff read the proposed language: "Each year, the city shall designate and set aside up to $25,000 for conservation purposes from land use change tax revenues. If annual land use change tax revenues are less than $25,000 only amount actually received shall be designated unless the balance of the conservation fund is less than $100,000 in which case, the general fund shall provide the difference necessary to achieve the $25,000 annual designation."

City Assessor Dale Angel explained how the land use change tax works, saying it is a one‑time charge when land leaves current use and that it is "10% of the market value when it comes out of current use." He told the committee that receipts have varied over the past decade — several years with no receipts and a high year of about $100,000 — and that the proposed language is intended to preserve past practice while adding the $100,000 threshold for general‑fund supplementation. A councilor raised concerns that a cap or threshold could limit the fund's ability to absorb a rare large land sale; staff clarified how receipts above $25,000 would be handled and that the conservation fund balance would not exceed $500,000. The committee voted unanimously to recommend adoption of R2026‑34 to the City Council.