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-- '~value $310,000) and a current appraised value of $650,000 in January 2002 (land value <br />$300,000 and improvement value $350,000), the total tax would be as shown below: <br /> <br /> 2001-02 2002-03 Incr/(Decr) <br /> $ $ $ <br /> Reclamation Bonds Assessment 115.32 102.15 (13.17) (11.4) <br /> Facilities Bonds Assessment 219.86 220.84 .98 .5 <br /> Total 335.18 322.99 (12.19) (3.6) <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 /> <br /> Reclamation Facility <br /> Bonds Bonds <br /> Gross Bond Service <br /> Principal $495,000 $985,000 <br /> Interest 127,950 341,688 <br /> District Assessment 20;795 28,716 <br /> Other Bond Service Costs 45,309 45,271 <br /> Total Expenses 689,054 1,400,675 <br /> <br /> Deduct <br /> Interest Earnings (10,000) <br /> <br /> Amount to be levied $679,054 $1,400,675 <br /> <br /> Brian Pqnty Alison F~reeman Edward P. ~verett <br /> District Assessor Financial Services Manager City Manager <br /> (Finance Director) <br /> <br /> <br />