California Revenue and Taxation Code 2309 – Any adjustment in the maximum property tax rate of a local agency …
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Any adjustment in the maximum property tax rate of a local agency made pursuant to Section 2308 shall only be made in the first full fiscal year after the functional consolidation has occurred.
(Added by Stats. 1973, Ch. 358.)
Terms Used In California Revenue and Taxation Code 2309
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- functional consolidation: means the transfer, from one local agency to another, of both of the following: (1) the responsibility for providing a program or a service to an area within the jurisdiction of the transferring agency and (2) the responsibility for levying a property tax rate within such area to pay the cost of such service or program. See California Revenue and Taxation Code 2305