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November 23, 2010.  Williamson Act & State Subvention  SB 863  Fiscal Impact  Recommendation 2.

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Presentation on theme: "November 23, 2010.  Williamson Act & State Subvention  SB 863  Fiscal Impact  Recommendation 2."— Presentation transcript:

1 November 23, 2010

2  Williamson Act & State Subvention  SB 863  Fiscal Impact  Recommendation 2

3  Enables local governments to enter into contracts with landowners for the purpose of restricting specific parcels of land to agricultural or related open space use.  Landowners receive property tax assessments which are much lower than normal as opposed to full market value.  Local governments receive an annual subvention of foregone property tax revenues. 3

4  State budget has included over $37 million in Williamson Act subvention funding.  Fiscal year State budget included only $1,000 of Williamson Act subvention funding.  On October 19, 2010, Governor Schwarzenegger signed SB 863.  SB 863 provides a method for counties to offset a portion of the loss if counties receive less than one-half of their foregone General Fund property tax revenue. 4

5  Shorten its 10-year Williamson Act contracts to 9 years (20-year Farmland Security Zone contracts would become 18- year contracts).  10 percent reduction in the length of the contract will recapture 10 percent of the participating landowners’ property tax savings.  Sunsets on January 1,

6  County must first determine that the State provided less than one-half of the County’s foregone property tax revenues in the prior fiscal year.  The foregone property tax revenues in fiscal was approximately $2.6 million.  The State allocated $1,000 in subvention funding statewide, of which San Joaquin County received $53. 6

7  Implementation of SB 863 would generate approximately $1.3 million per fiscal year.  Partial subvention funds in fiscal year only, estimated at approximately $447,800.  Notifying the contracted landowners is approximately $3,600. 7

8  Determine that the County received less than one- half of the foregone property tax revenue.  Set a public hearing on December 7, 2010 to consider the implementation of the provisions authorized in SB 863.  Direct staff to notify all Williamson Act and Farmland Security Zone contracted landowners of the December 7, 2010 public hearing. 8


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