TO:
Honorable Mayor and Members of the City Council
THROUGH:
Mark Danaj, City Manager
FROM:
Bruce Moe, Finance Director
SUBJECT:Title
Renewal of Five Year Professional Services Agreement with HdL, Coren & Cone to Provide Property Tax Reporting, Analytic and Audit Services for an Estimated Cost of $60,500 (Finance Director Moe).
APPROVE
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Recommended Action
RECOMMENDATION:
Staff recommends that the City Council renew a new five year agreement with HdL, Coren & Cone for property tax reporting, analytic and audit services for an estimated cost of $60,500.
Body
FISCAL IMPLICATIONS:
Funds are budgeted annually for this service. The total cost of the five year contract, which includes consumer price index adjustments in years four and five (estimated at 3% in those years), is $60,500. Years one through three are fixed at $11,880 per year.
BACKGROUND:
The City's largest General Fund revenue source is Property Tax (41%). Analyzing, auditing and reporting on these revenues is an important function that assists the City in budgeting, forecasting and tracking trends for this key source. The firm of HdL, Coren & Cone has provided these services to the City since 1996.
DISCUSSION:
The scope of these professional services include providing:
* a property tax database available through an online property tax application;
* listings of the major property owners in the City, including the assessed value of their properties, and an estimate of the property taxes;
* listings of property tax transfers which occurred since the prior lien date;
* comparisons of property within the City by county-use code designation;
* listings by parcel of new construction activity between tax years to provide reports for use in the City's preparation of Gann (Propositions 4 and 111) State Appropriation Limit calculations;
* estimates of property tax revenue anticipated to be received for the fisc...
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