Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2014
 

Revenue and Taxation Code

Property Taxation

Part 0.5. Implementation of Article XIII A of the California Constitution

Chapter 6. Allocation of Property Tax Revenue

Article 3. Revenue Allocation Shifts for Education

Section 97.44

97.44. County of San Luis Obispo allocations. (a) Notwithstanding any other provision of this article, in the County of San Luis Obispo, commencing with ad valorem property tax revenue allocations for the 1995–96 fiscal year, the auditor shall, subject to subdivision (b), do both of the following:

(1) Allocate to the County of San Luis Obispo, from those revenues that are otherwise required to be allocated to the county's Educational Revenue Augmentation Fund (ERAF), that amount of ad valorem property tax revenue that is attributable in the relevant fiscal year to three million seven hundred fifty thousand dollars ($3,750,000) of ad valorem property tax revenue derived for the 1993–94 fiscal year from the taxation of property assessed by the County of San Luis Obispo for that fiscal year.

(2) Transfer from the county to that county's ERAF that amount of revenue, otherwise to be allocated to the county pursuant to Section 100, that is attributable in the relevant fiscal year to three million seven hundred fifty thousand dollars ($3,750,000) of ad valorem property tax revenue derived for the 1993–94 fiscal year with respect to the County of San Luis Obispo from the taxation of property assessed by the State Board of Equalization.

(b) The allocations and transfers of revenue required by subdivision (a) are modifications of, and shall not be construed to be substitutions for, the allocation of property tax revenues as otherwise required by this chapter.

History.—Added by Stats. 1995, Ch. 501, in effect October 4, 1995.

Note.—Section 2 of Stats. 1995, Ch. 501, provided that:

The Legislature finds and declares all of the following:

(a) Current law, with respect to the shift of property tax revenues for the 1993–94 fiscal year from local agencies to school entities, requires the shift of only those revenues that are derived from the taxation of locally assessed property.

(b) In the County of San Luis Obispo, an unusually large percentage of those ad valorem property tax revenues allocated to the county are derived from the taxation of state assessed property.

(c) As a result, the impact of a property tax revenue shift, such as the shift required with respect to the 1993–94 fiscal year, falls disproportionately upon the County of San Luis Obispo.

(d) A modification of property tax revenue allocation requirements to provide for partial funding of school entities in the County of San Luis Obispo from property tax revenues derived from the taxation of state assessed property would remedy the inequities being suffered by that county.

Sec. 6 thereof provided that the Legislature finds and declares that a special law is necessary and that a general law cannot be made applicable within the meaning of Section 16 of Article IV of the California Constitution because of the unusually large percentage of ad valorem property tax revenue annually allocated to the County of San Luis Obispo that is derived from the taxation of property assessed by the State Board of Equalization.