HomeMy WebLinkAbout13-011 Resolution supporting SB629RESOLUTION NO. 13 -011
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SARATOGA
SUPPORTING SENATE BILL 629 — TAX EQUITY ALLOCATION
WHEREAS, when Proposition 13 passed in 1978, it decreased property taxes by assessing property
taxes at their 1975 levels and restricted annual increases of assessed value of real property to an inflation
factor, not to exceed 2% per year; and
WHEREAS, in 1979, the California State Legislature passed Assembly Bill (AB) 8, which included a
provision to bring all "no -low tax" cities share of the property tax up to 7 %.; and
WHEREAS, subsequent legislation sponsored by Senator Vasconcellos reduced the share of the AB 8
property tax distribution for the cities of Saratoga, Los Altos Hills, Cupertino, and Monte Sereno; and
WHEREAS, AB 117 sponsored by Assembly Member Rebecca Cohn in 2006, restored a portion of the
Tax Equity Allocation (TEA) to the four cities; and
WHEREAS, this legislation changed the Educational Revenue Augmentation Fund (ERAF) shares
for Saratoga Los Altos Hills, Cupertino, and Monte Sereno from .07 to .04 and these cities lost their proportion
share based on what they received in property tax that they received at that time; and
WHEREAS, all other no -and low - property tax cities received TEA allocations and were not subject to
ERAF deductions; and
WHEREAS, Senate Bill (SB) 629 introduced by Assembly Member Jill Beall, Jr., would finally resolve
the inequality of property tax allocations by treating Saratoga, Los Altos Hills, Cupertino, and Monte Sereno like
all other no -and low- property tax cities;
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Saratoga endorses SB 629
introduced by State Assembly Member Jim Beall, Jr.
The above and foregoing resolution was passed and adopted at a regular meeting of the Saratoga City Council
held on the 20`x' day of March 2013 by the following vote:
AYES: Council Member Chuck Page, Manny Cappello, Howard Miller, Vice Mayor
Emily Lo, Mayor Jill Hunter
NOES: None
ABSENT: None
ABSTAIN: None
lam, "Mi
Jill Hunter, Mayor
ATTEST:
\� DATE:
CfyAal Bothelio, City Clerk