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B. CLASSIFICATION OF ASSESSOR'S PARCELS <br />Each Fiscal Year, beginning with Fiscal Year 2021-22, using the definitions above, each <br />Assessor's Parcel within CFD 2021-2 shall be classified by the CFD Administrator as Taxable <br />Property or Exempt Property. In addition, each such Fiscal Year, each Assessor's Parcel of Taxable <br />Property shall be further classified by the CFD Administrator as Developed Property or <br />Undeveloped Property. Commencing with Fiscal Year 2021-22 and for each subsequent Fiscal <br />Year, all Taxable Property shall be assigned a Land Use Type and subject to the levy of the Special <br />Tax pursuant to Section C below. <br />C. SPECIAL TAX RATE <br />1. Developed Property <br />Each Fiscal Year commencing in Fiscal Year 2021-22, each Assessor's Parcel of Developed <br />Property shall be subject to the Special Tax. <br />The Maximum Special Tax for Developed Property for Fiscal Year 2021-22 is shown below in <br />Table 1. <br />TABLE 1 <br />Land Use Type <br />Maximum <br />Special Tax <br />Single Family <br />$59 per <br />Residential Property <br />Residential Unit <br />Multi -Family <br />$41 per <br />Residential Property <br />Residential Unit <br />For each subsequent Fiscal Year following Fiscal Yea 2021-22, the Maximum Special Tax rates <br />shall be increased from the Maximum Special Tax rate in effect for the prior Fiscal Year by the <br />Annual Escalation Factor. <br />2. Undeveloped Property <br />Each Fiscal Year commencing in Fiscal Year 2021-22, each Assessor's Parcel classified as <br />Undeveloped Property shall be exempt from the levy of the Special Tax. <br />3. Exempt Property <br />No Special Tax shall be levied on Exempt Property as defined in Section F. <br />For each Fiscal Year, if the use or ownership of an Assessor's Parcel or Exempt Property changes <br />so that such Assessor's Parcel is no longer classified as one of the uses set forth in Section F, <br />82761."M2928862.1 <br />