06/20/1973 - Laserfiche WebLink

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annual Increases In assessed valuation. In the light of this, Mr. Spencer L Inquired as to why the assessed valuation per dwelling Is less than 41 1972-73 (That Is, approximately = to the 1969-70). Inasmuch as the Town shows a 2% Increase In property taxes, Mr. Spencer stated his belief that the budget underestimates the value from property taxes. Mr. Spencer sta- ted further that this view was supported by the fact that all the various fees show a higher percentage Increase, and suggests that the Town has a higher Income than indicated, and that a tax decrease should, therefore, be made, particularly In the light of receipt of Federal revenue sharing funds designed to reduce the tax burden. The City Manager stated that revenue estimates for property tax for 1972-73 were not lower than actual, but that actual revenues received on property taxes for 1972-73 are within $120 of the budget estimate. Mr. Lawson stated further that budget estimates were based on actual assessed value, multiplied by the tax rate, and subtracting a percentage factor for delinquencies. For 1973-74, computation of the estimated property tax revenue is based on the figure estimated by the Santa Clara County Assessor --that Is, a 7% to 7-I/2$ increase, overall, in assessed valuation, Includ- ing new building. Mrs. Spencer inquired concerning page 208 of the proposed budget, referring to the respective sewer basins, In which there was a reference to a slope density formula in force, accompanying one -acre minimum zoning, when a contract was signed with Palo Alto in 1968 by the Town for capacity rights in the Palo Alto sewer plant. Mrs. Spencer questlonned whether a slope density formula actually was In effect at that time. 4W Mayor Helgesson stated that the Town did not have a slope density formula In effect at that time. Councilman Kubby stated that the formula was being considered at the time in question and that figures based on its potential existence were used In preparing the contract. Mrs. Spencer further expressed her understanding that one itom proposed for deletion from the budget would be $500 for the Town Historian. The City Manager replied that that was his recommendation. Mrs. Spencer recommended that reinstatement of the amount for Town Historian be considered --stating further that as the budget showed $1300 for rental and cleaning of uniforms showing a Los Altos Hills designation, for use by the maintenance crew, the Town should look at the two expenses with the Idea of dote. -mining which expense will be of greater value to the Town in future years. Mrs. Spencer stated that she would prefer to see the Historian's expenses reim- bursed rather than cut with the $1300 uniform expandlture retained. Questions and discussion of the budget by the City Council and the public continued. Concluding this discussion, Mayor Helgesson declared the Public Hearing closed. It was agreed by the Council that the portion of the budget relative to salaries of Town employees would be discussed at a personnel session, and that further consideration of the proposed budget would be continued to the -3-