Res95 12649 - Laserfiche WebLink

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levy applicable to Area G401 as calculated in step $ (c) above from the total levy on all Residential Parcels as calculated in step 3 (a) above, and dividing the resulting total by the number of residential units (as adjusted by each Residential P~rcel's unit multiplier, if amy) calculated in steps 2 (a), (b) and (c) above. A pro rata cost per residential unit shall then be assigned to each such Residential Parcel in the Lido Neighborhood Specific Plan Area based on the number of residential units allocated to each such Residential Parcel in the Lido Neighborhood Spedfic Plan Area. e. The total levy on all Commercial Parcels shall be set at 5 percent of the total levy on all Residential Parcels in the Lido Neighborhood Specific Plan Area as calculated in step 3 (d) above. The total levy on all Commercial Parcels shall then be divided by the total useable Commercial Parcel acreage and each Commercial Parcel shall be assigned a levy equal to its pro rata share of acreage used in such calculation. Useable Commercial Parcel acreage shall be equal to total acreage less acreage allocable to any public easements or fights-of-way. Commerdal Parcel acreage used in this calculation shall be that amoun~ shown in official City records relating to each Commerdal Parcel. 4. The calculations described in step 3 above will require successive iterations in order to converge on the correct solution. 5. After the annum levy for each Parcel has been calculated, the City shall prepare a list of armual levies showing the assessor's parcel number as of the March I lien date for each Parcel and the amount to be levied against such Parcel in a form acceptable to the County Auditor amd request that the list of annual levies be placed on the secured property tax roll for the following Fiscal Year. The list of annual levies shall be sent to the County Auditor by August 10 or such other date required by the County Auditor for placement of the list of annual levies on the secured tax roll. 6. The City has authority tO make necessary administrative adjustments to the Method of Assessment Spread to correct inconsistencies or methodological errors, and to make necessary administrative adjustments to the annual levy assigned to any Parcel in order to remedy the annual levy assigned to any such Parcel. As the result of such adjustments, the City may assign supplemental levies to be levied either by the County or directly by the City, or, if applicable, grant reftmds. iB-6