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Ad Valorem Property Taxes
The Metropolitan Water District Act at Section 124.5 limits property taxes to pay (1) principal and interest on Metropolitan's general obligation bonded indebtedness and (2) Metropolitan's portion of principal and interest on bonds issued pursuant to the California Water Resources Development Bond Act as of the effective date of Section 124.5 (Burns-Porter Act bonds) and used to finance construction of facilities for the benefit of Metropolitan. The restrictions in Section 124.5 "do not apply if the board of directors of the district, following a hearing held to consider that issue, finds that a tax in excess of these restrictions is essential to the fiscal integrity of the district, and written notice of the hearing is filed with the offices of the Speaker of the Assembly and the President pro Tempore of the Senate at least 10 days prior to that date of the hearing." On March 10, 2020, the board held such a hearing for public comment, and on (April 10, 2020) the Board considered the applicability of Section 124.5 in advance of setting the tax rates for FY 2020/21 in (August 2020) and FY 2021/22 in (August 2021). Information regarding the proposed determination for FY 2022/23 – FY 2025/26 is available below.
Property Tax Rate for FY 2020/21
Review of Applicability of Property Tax Limit – FYs 22/23-25/26