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N <br /> °P UI 'C, GAM <br /> oG OFFICE OF ROBERT SHELLENBERGER, MAI ,wr�r MSOR <br /> SAN JOAQUIN COUNTY ASSESSOR VAI_UATI9N <br /> N: :< <br /> 24 S.HUNTER STREET.STOCKrON,CALIFORNIA 95202.3273(209)468.2630 RICHARDEDGE <br /> ASSISTANT ESSOR t <br /> ADMINIS TION <br /> 4��FORe>, <br /> ANNUAL VALUE NOTICE FOR WILLIAMSON ACT PROPERTIES <br /> Enclosed is your annual value notice for property covered by a California Land <br /> Conservation Act contract (Williamson Act). <br /> As you know, this value varies each year, depending upon a number of economic <br /> factors. The primary factor—the one that can make a significant difference — is the <br /> annual interest rate on government bonds. This year the official rate on September <br /> 1, 1991 was 8.0%. This is down a full point from last year's 9.0%. <br /> This is a reminder that when interest rates go down, the taxable value goes up (all i <br /> other items remaining equal). As a result, many of you will see about a ten percent <br /> increase this year over last. By contrast, last year's 9.0% followed the 8.25% of 1990, <br /> and values went down by about seven percent. <br /> Remember that you are protected by local ordinance that assures your taxable value <br /> will always be lower than either market value or your Prop 13 base year value. Th <br /> amount will always be variable, as already noted. <br /> There is a bill pending in Sacramento that would allow Assessors to use the fiv <br /> year moving average of bond rates. This method would iron out these highs an <br /> lows. For example, under this system, the interest rates for the past three year <br /> would have been 8.90%, 8.60%, and 8.75%. Taxable values would be more stable an <br /> you would be better able to plan ahead. (In the long run you will pay the same taxes y <br /> We have endorsed this bill (AB 2927 -Harvey); in fact I wish we had thought of it <br /> long time ago. <br /> This letter only covers one aspect of this year's assessment. If you have any oth z <br /> questions concerning the Williamson Act, please call. <br /> Robert Shellenberger <br /> Assessor <br /> Spring 1992 <br />