MARYSVILLE, Calif. November 21, 2018 – Yuba Water Agency will move forward with plans to further consider a transfer of property tax revenue to Yuba County, which is approximately $500,000 per year.
For decades, Yuba Water Agency has received a small portion of the county’s property tax revenue to help with the cost of business outside of power and reservoir operations, which were paid by Pacific Gas & Electric. The property tax funding covered the cost of things like recreation facilities, general management, flood risk reduction projects, water supply, and more.
In 2016, the agency’s contract with PG&E expired and the water agency began receiving the revenue from power generation, as well as taking responsibility for the associated expenses. That property tax funding is now a small percentage of the agency’s annual revenue.
“Timing is everything. And for many years, that portion of the property tax revenue helped run the agency,” said Yuba Water Agency Vice-Chairman Randy Fletcher. “Today, with the revenue coming in from power generation, it is only appropriate that it go to the county, which can use it to substantially help the community in ways the water agency would not be able to do.”
Before Yuba Water Agency can proceed with the transfer of property tax revenue to Yuba County, the agency is required to hold a specific public hearing and adopt a resolution in support of the transfer. Yuba County will then need to hold a subsequent public hearing, adopt a resolution of its own and file it with the county auditor to appropriately adjust the tax revenue allocation.
The board directed agency staff to begin the process, with the caveat that the transfer would expire after ten years, at which time it would be reconsidered.
To be informed about the public hearing on this issue, anyone interested can subscribe to be notified when agendas are posted to the agency’s website at www.yubawater.org/AgendaCenter. Just click the “notify me” link.