TO:
Honorable Mayor and Members of the City Council
THROUGH:
Talyn Mirzakhanian, City Manager
FROM:
Libby Bretthauer, Acting Finance Director
SUBJECT:Title
Consideration of a Resolution Approving the Renewal of a Five-Year Professional Services Agreement with HdL Coren & Cone to Provide Property Tax Reporting, Analytical and Audit Services for an Estimated Cost of $80,250 (Budgeted) (Acting Finance Director Bretthauer).
ADOPT RESOLUTION NO. 25-0057
Body
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RECOMMENDATION:
Staff recommends that City Council adopt Resolution No. 25-0057 approving a Five-Year Professional Services Agreement with HdL Coren & Cone for property tax management, information and audit services for an estimated cost of $80,250.
FISCAL IMPLICATIONS:
Funds are budgeted annually for this service. The cost of the five-year agreement consists of an annual base fee of $16,050, plus an annual California Consumer Price Index (CCPI) adjustment.
BACKGROUND:
The City's largest (37%) General Fund revenue source is Property Tax. In fiscal year 2026, the City expects to receive Property Taxes totaling $47.0 million. Analyzing, auditing and reporting on these revenues is an important function that assists the City in budgeting, forecasting and tracking trends for this key funding source. The firm of HdL Coren & Cone has provided these services to the City since 1996.
DISCUSSION:
The scope of HdL Coren & Cone's professional services includes providing:
* A property tax database available through a web-based software application;
* Monthly/quarterly reports and system updates;
* Listings of the major property owners in the City, largest parcel value changes, property tax appeals and property tax transfers;
* Median sale price data for current year and prior years for comparison;
* Audits of secured and unsecured property tax rolls to identify and correct errors;
* One and five-year budget projections for City General Fund; and
* Property tax...
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