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<br />q~-~ <br />VãTue $280.000) and a Current appraised value of $600,000 in January 2000 (land value <br />$270.000 and improvement value $330.000), the total tax would be as shown below: <br /> <br />Reclamation Bonds Assessment <br />Facilities Bonds Assessment <br />Total <br /> <br />1999-00 <br />$ <br />109.00 <br />220.00 <br />329.00 <br /> <br />2000-01 <br />$ <br />98.42 <br />219.90 <br />318.32 <br /> <br />Decrease <br />$ % <br />10.58 9.7 <br />.10 0 <br />10.68 3.2 <br /> <br />It should be noted that Reclamation Bond debt service is levied on land only while Facility <br />Bonds are levied on both land and improvements. The bonds are a general obligation of <br />the General Improvement District No. 1-64. They are payable from taxes levied only within <br />the district boundaries. <br /> <br />Bond taxes have been levied on the basis of an annual tax roll developed strictly for the <br />General Improvement District No. 1-64 each year since the 1968-69 fiscal year. The <br />amount of district taxes is calculated by the District Tax Collector and is collected by San <br />Mateo County at the same time and on the same bill as other city, county and special <br />district taxes. <br /> <br />The required total tax is computed as follows: <br /> Reclamation Facility <br /> Bonds Bonds <br />Gross Bond Service <br />Principal $440.000 $860,000 <br />Interest 183,000 452.300 <br />District Assessment 19,995 27,612 <br />Other Bond Service Costs 36.291 37,943 <br />Total Expenses 679.286 1 ,377,855 <br />Deduct <br />Interest Earnings (16.982) (9,097) <br /> <br />Amount to be levied $662,304 $1,368,758 <br /> <br />M!~ <br /> <br />Brian Ponty <br />District Assessor <br />(Director of Finance) <br /> <br />ø~~ <br />/ . iAJL{Y' <br /> <br />Edward Everett <br />City Manager <br />