AgdaPkt 2005-07-11 - Laserfiche WebLink

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7/1- ;<; (land value $500,000 and improvement value $450,000), the total tax would be as shown below: Reclamation Bonds Assessment Facilities Bonds Assessment Total 2004-05 $ 108.59 242.78 351.37 2005-06 $ 134.63 270.51 405.14 Incr/(pecr) $ 26.04 27.73 53.77 % 23.98 11 .42 15.30 It should be noted that Reclamation Bond debt service is levied on land only while Facility Bond debt service is levied on both land and improvements. The bonds are a general obligation of the General Improvement District No. 1-64 and will mature on July 1, 2008. They are payable from taxes levied only within the district boundaries. Bond taxes have been levied on the basis of an annCJal tax roll developed strictly for the General Improvement District No. 1-64 each year since the 1968-69 fiscal year. The amount of district taxes is calculated by the District Tax Collector (the City's Finance Director) and is collected by San Mateo County at the same time and on the same bill as other city, county and special district taxes. The required total tax is computed as follows: Reclamation Bonds Gross Bond Service Principal Interest District Assessment Other Bond Service Costs Total Expenses $555,000 . 21 ,300 21 ,200 53,514 651,014 Deduct Interest Earnings (10,000) Amount to be levied $641.014 1ft? g v-l Brian P nty District Assessor (Finance Director) Facility Bonds $1,145,000 117,000 29,300 53.476 1,344,776 1:] .344.776 /) / / / /./ t! . ( ,/ /', /' .¿¡ ~j1 {L¿(~ Edward P.~Everett City Manager ~- , .-:-:~ .-- Alison Freeman Financial Services Manager