Beall’s Proposal Moves Closer To Returning $2 Million In Taxes To Cupertino, Saratoga, Los Altos Hills, And Monte Sereno
AB 1816 Moves to Appropriations Committee
Legislation introduced by Assemblymember Jim Beall that returns nearly $2 million in lost property tax revenue to four Santa Clara County cities through an inequity in state law cleared the Assembly Committee on Local Government on Wednesday.
Assembly Bill 1816, if passed, would return about $1.1 million to Cupertino; more than $517,000 to Saratoga; more than $172,000 to the Town of Los Altos Hills; and $170,000 to Monte Sereno. The money would be metered out over a five-year period.
“Under AB 1816, these cities will have more revenue to invest into public improvement projects or municipal services without having to raise any taxes or fees,’’ Beall said. “My legislation returns to the residents of Saratoga, Cupertino, Monte Sereno, and Los Altos Hills more of their own property tax dollars.’’
Beall’s bill ensures those four cities will get the same standard percentage of returned property tax revenue as the rest of California’s cities.
Currently, Saratoga, Cupertino, Los Altos Hills, and Monte Sereno are the only cities in California that are allocated less than 7 percent of the property tax revenue they generate. Since the passage of Proposition 13, the four cities receive about 4 percent of their property tax revenue.
The committee approved the bill on a bipartisan vote. Testifying on behalf of AB 1816 were : Chuck Page, mayor of Saratoga; Orrin Mahoney, vice mayor of Cupertino; Saratoga Councilmember Manny Cappello; and Cupertino Councilmember Rod Sink.
The bill now moves to the Appropriations Committee for consideration.
Contact: Rodney Foo, 408.282.8920