AgdaPkt 2002-07-01 - Laserfiche WebLink

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-EPORT To the Honorable Mayor and City CouncilI From the City ManagerI July 1,2002 Subject Property Tax Exchange Recommendation Approve a resolution authorizing a zero property tax exchange between San Mateo County and the City of Redwood City for the proposed reorganization of the Lands of Farahyar and Mathews. Background The City of Redwood City has applied to the Local Agency Formation Commission to detach a portion of a parcel from the City of Redwood City and annex a portion of a neighboring property to the City of Redwood City in order to process a lot line adjustment and proposed building permit. Revenue and Tax Code Section 99 requires that all affected agencies adopt resolutions of property tax exchange before LAFCo can schedule an application for hearing. This section applies to all LAFCo actions including those involving boundary change proposals where territory of substantially equal value is being exchanged between two jurisdictions. Therefore, in order to meet the requirements of the Revenue and Tax Code, it is necessary for affected agencies to adopt resolutions of zero tax exchange before the applicant can be further processed by LAFCo. The exchange is taking place between the owners of property at 747 and 735 Southview Way. The property owners are exchanging two small portions of their property (4,000 sq. ft.) to correct an illegal condition whereby a deck was built over an existing lot line. The annexed property will eventually need an appropriate Zoning and General Plan designation which the Council will review at a later date. (The City Council did review this annexation on May 20, 2002, as part of an appeal of a new house approval at 747 Southview Way). Fiscal Impact There is no property tax exchange and no fiscal impact. · '/ / '- Brian Ponty Thomas Passanisi Edward Everett Director of Finance and Community Development City Manager Financial Planning Services Supervisor ATTACHMENTS: A - Vicinity Map B - Annexation Map