8D Consent 2007 0416 - Laserfiche WebLink

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June 30 of the fiscal year, Such property may thereafter be redeemed by payment of a penalty of 1 % per month to the time of redemption, plus costs and a redemption fee, If taxes are unpaid for a period of five years or more, the property is deeded to the State and may be sold at public auction. Property taxes on the unsecured roll are due as of the January 1 lien dates and become delinquent on August 31. A 10% penalty attaches to delinquent unsecured taxes. If unsecured taxes are unpaid at 5:00 p.m. on October 31, an additional penalty of 1% attaches to them on the first day .of each month until paid. The County has four ways of collecting delinquent unsecured personal property taxes: (1) a civil action against the taxpayer; (2) filing a judgment in the office of the County Clerk specifying certain facts in order to obtain a lien on certain property of the taxpayer; (3)filing a certificate of delinquency for record in the County Recorder's office in order to obtain a lien on certain property of the taxpayer; and (4) seizure and sale of personal property, improvements or possessory interests belonging or assessed to the assessee. Beginning in 1978-79, Proposition 13 and its implementing legislation shifted the function of property tax allocation to the counties, except for levies to support prior voted debt, and prescribed how levies on county-wide property values are to be shared with local taxing entities within each county. Certain counties in the State of California, including Alameda, offer a statutory program entitled Alternate Method of Distribution of Tax Levies and Collections and of Tax Sale Proceeds (the "Teeter Plan"). Under the Teeter Plan local taxing entities receive 100% of their tax levies net of delinquencies, but do not receive interest or penalties on delinquent taxes collected by the county. The City has elected not to participate in the Teeter Plan. The City's receipt of property taxes is therefore subject to delinquencies. Assessed Valuation Information. Set forth below is a listing of the City's assessed valuations, net of homeowners' and other exemptions, for fiscal years 2002-03 through 2006-07. CITY OF SAN LEANDRO Assessed Value of All Taxable Property ($'s in thousands) 2002-03 2003-04 2004-05 2005-06 1I Secu red $6,181,159 6,676,341 7,221,647 7,752,095 8,490,385 Unsecured $544,303 536,497 526,799 538,060 577 ,326 Less Exemptions (165,818) (166,799) (182,526) (201,155) (193,143) Taxable Assessed Vlaue $6,559,644 7.046,039 7,565,920 8,089,000 8,874.568 Percent Chanqe 7.4% 7.4 6.9 9.7 Source: City of San Leandro Comprehensive Annual Financial Report; City of San Leandro. -23-