Laserfiche WebLink
2 <br />5 <br />6 <br />7 <br />8 <br />9 <br />IV <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />1. Developed Property <br />Each Fiscal Year commencing in Fiscal Year 2022-23, 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 2022-23 is shown below in <br />Table 1. <br />TABLE 1 <br />Land Use Type <br />Maximum <br />Special Tax <br />Single Family <br />$62.40 per <br />Residential Property <br />Residential Unit <br />Multi -Family Residential <br />$43.36 per <br />Property <br />Residential Unit <br />Office Property <br />$658.80 per Acre <br />Industrial Property <br />$592.92 per Acre <br />Other Non -Residential <br />$296.46 per Acre <br />Property <br />For each subsequent Fiscal Year following Fiscal Year 2022-23, 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 2022-23, 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 />therefore making such Assessor's Parcel no longer eligible to be classified as Exempt Property, <br />such Assessor's Parcel shall be deemed to be Taxable Property and shall be taxed pursuant to the <br />provisions of Section C. <br />D. METHOD OF APPORTIONMENT OF SPECIAL TAX <br />Commencing in Fiscal Year 2022-23 and for each subsequent Fiscal Year, the CFD <br />Administrator shall levy the Special Tax on all Taxable Property of CFD 2021-2 until the total <br />amount of Special Tax levied equals the Special Tax Requirement. The Special Tax shall be <br />levied Proportionately on each Assessor's Parcel of Developed Property within CFD 2021-2 up to <br />100% of the Maximum Special Tax to satisfy the Special Tax Requirement. <br />Notwithstanding any provision of this Section D to the contrary, under no circumstances will the <br />Special Tax levied against any Assessor's Parcel of Developed Property that is classified as <br />Residential Property be increased by more than ten percent (10%) per Fiscal Year as a <br />RV1PUB\MXM\666167.1 - 9 - <br />