Section 33670.8 Of Article 6. Taxation From California Health And Safety Code >> Division 24. >> Part 1. >> Chapter 6. >> Article 6.
33670.8
. (a) With respect to the allocation of taxes pursuant to
Section 33670 in redevelopment project areas within the incorporated
City of Santa Cruz, which were already approved on October 17, 1989,
the otherwise applicable provisions of this part shall be modified as
specified in this subdivision.
For the purpose of determining the portion of taxes to be paid
annually to the Redevelopment Agency of the City of Santa Cruz
pursuant to Sections 33328, 33670, and 33675 for any redevelopment
project which was approved on or before October 17, 1989, "assessment
roll ... last equalized" and "base-year assessment roll" mean the
last equalized assessment roll determined pursuant to subdivision (a)
of Section 33670 reduced by the same amount as the amount of
reduction in the current assessment roll determined pursuant to
Section 170 of the Revenue and Taxation Code.
(b) With respect to the allocation of taxes pursuant to Section
33670 in redevelopment project areas within the incorporated City of
Watsonville, which were already approved on October 17, 1989, the
otherwise applicable provisions of this part shall be modified as
specified in this subdivision.
For the purpose of determining the portion of taxes to be paid
annually to the Redevelopment Agency of the City of Watsonville
pursuant to Sections 33328, 33670, and 33675 for any redevelopment
project which was approved on or before October 17, 1989, "assessment
roll ... last equalized" and "base-year assessment roll" mean the
last equalized assessment roll determined pursuant to subdivision (a)
of Section 33670 reduced by the same amount as the amount of
reduction in the current assessment roll determined pursuant to
Section 170 of the Revenue and Taxation Code.
(c) In claiming an allocation of taxes pursuant to Section 33675,
as adjusted pursuant to subdivision (b), the redevelopment agency of
the City of Watsonville shall consider the economic impact of the
allocation on other agencies which have sustained substantial
disaster damage and shall negotiate and enter into an agreement with
the County of Santa Cruz to avoid further economic hardship.
(d) Within 30 days after receipt of a notice from the Assessor of
the County of Santa Cruz establishing the adjustment in the
assessment roll pursuant to subdivision (b), the Redevelopment Agency
of the City of Watsonville may elect not to be subject to this
section by giving written notice of its decision to the County of
Santa Cruz. Notwithstanding an election by the Redevelopment Agency
of the City of Watsonville not to be subject to this section pursuant
to this subdivision, it shall still reimburse the County of Santa
Cruz for its cost of revising the property tax assessment rolls and
allocations.
(e) Subdivisions (a) and (b) shall apply to allocation of taxes
levied on the 1990 and subsequent equalized assessment rolls, upon
the request of the redevelopment agencies of the Cities of Santa Cruz
and Watsonville, and those agencies shall reimburse the County of
Santa Cruz for its cost of revising the property tax assessment rolls
and allocations.
(f) (1) The county auditor shall certify to the director of
finance of each city which includes a redevelopment project subject
to this section when the total sum of the assessed value of the
taxable property in each redevelopment project subject to this
section as shown upon each current year's equalized assessment roll
becomes equal to the total sum of the assessed value of the taxable
property in each redevelopment project as shown upon the assessment
roll last equalized before October 17, 1989, adjusted by the change
in the Consumer Price Index for the San Francisco/Oakland
Metropolitan Area between 1989 and the date of the certification
pursuant to this subdivision. On the July 1 following the date of
certification and each July 1 thereafter, the county auditor shall
increase the total sum of the assessed value of the taxable property
in each redevelopment project as shown upon the assessment roll
adjusted pursuant to subdivision (a) or (b) by 10 percent of the
difference between the total sum of the assessed value of the taxable
property in each redevelopment project determined pursuant to
subdivision (a) of Section 33670 and the total sum of the assessed
value of the taxable property in each redevelopment project as
adjusted pursuant to subdivision (a) or (b), until the two total
assessed values are equal, and shall report this adjusted value to
the other county officials charged with the responsibility of
allocating taxes pursuant to Sections 33670 and 33675, who shall use
this assessed value in determining the portion of taxes to be paid
annually to the redevelopment agency subject to this section.
(2) For purposes of this subdivision only, in the event that any
redevelopment project area within the incorporated area of the City
of Santa Cruz already approved on October 17, 1989, is amended to add
territory to the project area, the assessed value of taxable
property in the territory added shall be computed separately and the
county assessor shall not take the assessed value into account in
determining when the total sum of the assessed value of the taxable
property in the redevelopment project becomes equal to the total sum
of the assessed value of the taxable property as shown on the
assessment roll last equalized prior to October 17, 1989, as adjusted
pursuant to this subdivision.
(g) With respect to an area added to a redevelopment project by
the City of Santa Cruz or the City of Watsonville pursuant to
Sections 33458.5 and 33477, the terms "assessment roll" and "last
equalized assessment roll" as used in Section 33670 shall mean and
refer to the assessment roll as reduced in accordance with the
provisions of subdivision (b) of Section 170 of the Revenue and
Taxation Code.