TO:
Honorable Mayor and Members of the City Council
THROUGH:
Bruce Moe, City Manager
FROM:
Steve S. Charelian, Finance Director
SUBJECT:Title
Consider Adopting a Resolution Approving a Five-Year Agreement with HdL, Coren & Cone to Provide Property Tax Reporting, Analytic and Audit Services for an Estimated Cost of $69,000 (Finance Director Charelian).
ADOPT RESOLUTION NO. 20-0060 APPROVING AN AGREEMENT
Line
_________________________________________________________
Recommended Action
RECOMMENDATION:
Staff recommends that the City Council adopt Resolution No. 20-0060 approving a new five-year agreement with HdL, Coren & Cone for property tax reporting, analytic and audit services for an estimated amount of $69,000.
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 two through five (estimated at 3% in those years), is $69,000.
BACKGROUND:
The City's largest General Fund revenue source is Property Tax. 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 includes:
* 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 f...
Click here for full text