Acronym
RPTTF
Also known as: Redevelopment residual
Redevelopment Property Tax Trust Fund — leftover property tax revenue from dissolved redevelopment agencies, distributed to local taxing entities.
When California dissolved its redevelopment agencies in 2012, RPTTF was created to wind down their financial obligations. Once obligations are met, residual goes to cities, schools, and counties pro-rata. Menlo Park budgets ~$2-3M per year.
In Menlo Park
FY2027 proposed RPTTF: $2.21M.