Item B: Public Safety Task Force Update

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. The governing body can decide to levy a lower rate than that approved by the voters, thereby giving the ability to "phase in" the rate . Could provide non-dedicated general fund revenue Disadvantages of forming a service district with a permanent property tax rate: . Has only a little relationship to ability to pay . Burdensome on low-income property owners . No longer able to precisely determine yield-dependent on maximum assessed value . COWlty levy may result in rate compression with other taxing districts . Requires approval by resolution of the governing body of each incorporated city within the district prior to placing formation measure on ballot . Subject to Urban Renewal District division of tax Advantages of the County passing a Local Option Levy . Generates significant revenue . Property Tax is an existing, generally accepted tax concept by voters . Growth occurs when Real Market Values of the county increase by a faster rate than the constitutionally allowed 3% growth for Maximum Assessed Value . A system for billing and collecting the tax is currently in place, requiring no new administration costs . Taxes Lane County property owners and absentee owners . Deductible for state and federal personal income tax itemizers . Would not need approv8.I of the governing bodies of each incorporated area within the district Disadvantages of the County passing a Local Option Levy . Has only a little relationship to ability to pay . Not everyone pays; only those properties with a "gap" between Real Market Value and Maximum Assessed Value are subject to the levy . Burdensome on low-income property owners . No longer able to precisely determine yield-fluctuates with the growth or decline of the real estate market, more volatile than a permanent rate . County levy may result in rate compression with other taxing district's local option levies . Local option levy would have to be renewed by the voters periodically . Difficult to explain the tax and their payment portion to taxpayers . Subject to Urban Renewal District division of tax in certain circumstances Executive Summary - Lane County Public Safety Task Force Final Report 29