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Ordinance No. 1701 <br />Page 11 <br /> <br /> 2001, in equal increments. In those three years (and assuming no further change of <br /> ownership), the real property taxes shall be calculated as follows: in 1999, (a) + <br /> (b) above and (c) the difference between the real property taxes for the year ending <br /> 9/30/98 and the year ending 9/30/97, with the difference divided by the product of <br /> 12 and the number of spaces in the park; in 2000, (a) + (b) + (c) above and (d) the <br /> difference in the real property taxes between the year ending 9/30/99 and the year <br /> ending 9/30/98, with the difference divided by the product of 12 and the number of <br /> spaces in the park; in 2001, (a) + (b) + (c) + (d) above and (e) the difference in the <br /> real property taxes between the year ending 9/30/00 and the year ending 9/30/99, <br /> with the difference divided by the product of 12 and the number of spaces in the <br /> park. <br /> <br /> C. After 1998, if there has been a change of ownership Csee California Revenue <br /> and Taxation Code §§60 et seq.) and the real property taxes for the year (ending <br /> 9/30) are more than 105% of the prior year's real property taxes, the real property <br /> taxes shall be calculated as follows: (a) the real property taxes for the year (ending <br /> 9/30) before the year the real property taxes increased more than 5% as a result of <br /> the change of ownership; and (b) the difference between the real property taxes for <br /> the year (ending 9/30) that the real property taxes increased more than 5% as a <br /> result of a change in ownership and the real property taxes in (a), with the <br /> difference first divided by the product of 12 and the number of spaces in the park <br /> and then further divided by four. [For example, assuming the real property taxes <br /> increased in 1999 more than 105% of the real property taxes in 1998 due to a <br /> change of ownership, for calculating the rent for 2000, (a) would be the 9/30/98 <br /> real property taxes and (b) would be one-fourth of the difference between the <br /> 9/30/99 and the 9/30/98 real property taxes.] The remaining dollar difference <br /> calculated in (b) (i.e., three-fourths of the difference) shall be added over the next <br /> three years in equal increments. In those three years (and assuming no further <br /> change of ownership), the real property taxes shall be calculated as follows: in the <br /> first year, (a) + (b) above and (c) the difference between the real property taxes for <br /> the year following the year identified in (b) and the year identified in (b), with the <br /> difference divided by the product of 12 and the number of spaces in the park; in the <br /> second year, (a) + (b) + (c) above and (d) the difference in the real property taxes <br /> between the second year following the year identified in (b) and the first year <br /> following the year identified in (b), with the difference divided by the product of 12 <br /> and the number of spaces in the park; in the third year, (a) + (b) + (c) + (d) above <br /> and (e) the difference in the real property taxes between the third year following <br /> the year identified in (b) and the second year following the year identified in (b), <br /> with the difference divided by the product of 12 and the number of spaces in the <br /> park. This section shall survive the termination of this ordinance if while this <br /> ordinance was in effect (1) there has been a change of ownership, (2) the <br /> remaining dollar difference calculated in (b) above has not been fully recovered as <br /> provided in this section and (3) a new or revised ordinance providing for the <br /> stabilization of mobilehome rents has not been adopted. <br /> <br /> <br />