Set tax rate for pension fund at 14 cents per $100 property value
In Plain English
The city collects a separate property tax to fund employee pensions. This sets the rate at 14 cents for every $100 of your property's assessed value for the 2005-2006 budget year. A home valued at $300,000 pays $420 annually in pension taxes under this rate.
Auto-generated summary. Source: official agenda documents.
Votes
Motion · Official minutes
Approve consent calendar
7 aye · 0 nay · 1 abstain · 1 absent
Why This Vote Matters
The council unanimously approved setting the pension fund property tax rate at 14 cents per $100 of assessed property value for 2005-2006. This separate tax funds city employee pensions and will cost the owner of a $300,000 home $420 per year. Councilmember McLaughlin abstained from voting, while Councilmember Viramontes was absent. This was part of routine budget approval as the council continues its pattern of broad support for budget items.
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Related agenda records
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