|May 30, 2023|
How your property taxes are divided
SACRAMENTO – (INT) – Local property taxes are a big chunk of the revenue flowing into state coffers.
The State Board of Equalization issued its annual report Tuesday April 18th showing that local property tax revenues hit 83-billion dollars for fiscal year 2021-22. More than half (53%) went to schools. The balance was divided up among the counties, cities and special districts.
On the income side of the ledger, county-assessed property values rose 7 percent creating a 4 percent increase in tax revenues for a total of 83-point-1 billion dollars.
Story Date: May 15, 2023