subscribe: Posts | Comments

California Taxes

7 comments
California Taxes

The demand for housing in California increased as the population increased and this caused higher taxes and higher property values. Around 35 percent of city and county revenue totals come from local taxes.
Property tax is a major source of revenue and comes from school districts, counties, cities along with special districts in Calif. This is a stable revenue source that began in 1849. The distribution of these funds are as follows: schools get fifty two percent, Counties get nineteen percent, Cities get eleven percent and the other local entities get the last eighteen percent.
There are some that are exempt from taxes in California. These would be charities, securities, automobiles, business inventories and household personal property. Proposition 13 in Article13A limits the local government from raising the revenues on property taxes. According to the rate of inflation or by 2 percent, the total value of real properties, in increased each year.

Leave a Reply