HomeMy WebLinkAboutA21 Transparency in Fiscal Analysis of Bond, Assessments, and Tax Measures
CITY COUNCIL POLICY
SUBJECT: TRANSPARENCY IN FISCAL ANALYSIS OF BOND, NO.: A-21
ASSESSMENTS, AND TAX MEASURES
PURPOSE:
To establish a policy requiring information regarding the financial impact of proposed
bond, assessments, and tax measures on Mountain View residents or taxpayers when
the City Council is requested to take a position on such measures that will be submitted
for voter approval and such endorsement requests meet the requirements of City
Council Policy A-16, "Endorsements of Ballot Measures," or when the bond or tax
measure is initiated by the City.
POLICY:
1. The City of Mountain View recognizes that from time to time the City Council may
be requested to take a position on ballot measures regarding local, State, and
Federal issues. Policy A-16, “Endorsements of Ballot Measures,” restricts when
such requests shall be considered. When the City Council is requested to endorse
a bond or assessment or tax ballot measure that meets the restrictions of Policy A-
16 or when such a measure is initiated by the City prior to taking a position, it shall
be City Council policy to request and review information about the financial
impact on Mountain View residents or taxpayers. This information shall be clearly
and transparently provided to the City Council according to the requirements of
this policy in order for the City Council to make an informed decision on such a
measure.
2. Financial impact information provided to the City Council, while maintaining
confidentiality to individual taxpayers, shall be as follows:
a. Incremental financial impact of the measure on residents or taxpayers,
showing the largest, median, and lowest increased assessment or tax to
persons or businesses incurring the assessment or tax increase. For example,
a bond measure that will raise property tax rates should provide information
on the incremental increase to the owner of the highest assessed value
property in Mountain View, the median assessed value property, and the
lowest;
b. For other types of tax measures, such as sales tax or Transient Occupancy
Tax, best efforts will be made to provide a similar range of information
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CITY COUNCIL POLICY
SUBJECT: TRANSPARENCY IN FISCAL ANALYSIS OF BOND, NO.: A-21
ASSESSMENTS, AND TAX MEASURES
demonstrating the financial impact on taxpayers under the existing tax rate/
structure compared to if the proposed measure were approved. For example,
a sales tax increase will have a direct impact on purchasers and an indirect
impact on sellers. The financial impact information for this type of tax might
include the highest, median, and lowest amount remitted by an entity to the
City, not necessarily the amount remitted by an individual taxpayer. For
Transient Occupancy Tax, the range of information might also include the
incremental and total tax amount paid by customers for sample room rates.
3. City staff will coordinate with parties requesting Council endorsement of tax,
assessments, and bond measures in the collection and review of this financial
impact information. Staff, operating under the one-hour rule, will review the data
submitted and provide the City Council with an assessment of the accuracy and
quality of any information submitted in support of the request.
4. If the tax or bond measure is proposed by the City, the same type of financial
impact information would be provided.
Effective Date: December 2, 2008, Resolution No. 17349
KW/7/CNLPOL
A21-610CP-E
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