Property taxes: TEA formula allocation: maintenance or improvement districts: City of Simi Valley.

Existing property tax law requires the auditor of each county with qualifying cities, as defined, to make certain property tax revenue allocations to those cities in accordance with an established Tax Equity Allocation (TEA) formula and to make corresponding reductions in the amount of property tax revenue that is allocated to the county, as specified. This bill, commencing with the 2012–13 fiscal year, would prohibit the auditor of the County of Ventura from reducing the amount distributed to the City of Simi Valley by reason of that city receiving property taxes previously allocated to a maintenance or improvement district pursuant to specified provisions. This bill would require the City of Simi Valley to reimburse the auditor for the actual and reasonable costs incurred by the auditor to administer these allocations, as provided. This bill would also make findings and declarations regarding the necessity of a special statute. By imposing new duties upon county officials in the allocation of ad valorem property tax revenues, this bill would impose a state-mandated local program. The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement. This bill would provide that no reimbursement is required by this act for a specified reason. This bill would declare that it is to take effect immediately as an urgency statute.