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C. Mayor Hay A. Weymouth Redwood M I N U T E S Vice Mayor James S. Williams Budget Study Session foundednle City Council Councilmen Gifu Onllfornle of the Michael J. Barrett City of Redwood City Mary W. Henderson ___________I Community Activities Building Marguerite Leipzig May 10, 1975 Robert E. Norris lo„o.» William C. Rhodes (no tape recording was made of the Session) Adjourned Meeting The Council of the City of Redwood City met on this date in a Budget Study Session at 9:00 a.m. with Mayor Weymouth presiding. Roll Call Councilmen present : Barrett, Henderson, Leipzig, Norris, Rhodes, Williams and Mayor Weymouth Councilmen absent : None Officials and staff present : City Manager Fales, City Controller Ference, Assistant City Manager Smith, City Clerk Hildebrand and Director of Public Works Pusich, City Librarian Vollma.yer, Park and Recreation Director Weeks, Police Chief Bold, Fire Chief Keller puma Proposed Annual Budget 1975-1976 Mayor Weymouth opened the Budget Study Session, stating that the only subject before Council today is the pro- posed Annual Budget for 1975-1976. City Manager Fales and City Controller Ference commented . generally on the increased assessed values of property recently determined by the County Assessor, noting that the increases range from 20 to 50% on single family homes in the City, with an average increase in assessment of 30%. A citizen challenged Mr. Ference ' s statement that the Assessor had advised that 100% of the single family homes in the City have been reappraised. Mr. Ference agreed to check with the Assessor again regarding the number of homes which have been reappraised in the past year. Mr. Pales advised that with regard to a home valued at $40,000, if the City tax rate remains the same, the tax bill would be ' increased about $59. 10 by the increased assessed valuation. The City tax bill for the same home would increase about $46. 10, if the tax rate were lowered by ten cents. Mr. Pales observed that the difference ram would be only about $13.00, or one dollar per month over the amount paid on the previous assessments, indicating *,,,g that reductions in tax rate are not very evident until there are fairly massive reductions. Mr. Fales reminded the audience that he is discussing municipal property tax rates which, in 1974-1975 represented 19% of the total. Budget Study 5/10/75