LAO publishes CalFacts 2011
Original post made by Stacey, Amberwood/Wood Meadows, on Jan 6, 2011
One item that caught my eye was "Allocation of Property Tax Has Varied Over Time". The chart shows that in 1977 the total revenue of property tax collected was $10.3B. This is from before Prop. 13 and you can see the expected drop in revenue in 1979. But look at in 2008 where the LAO estimates the revenue at $45.2B. If you plug $10.3B into a CPI inflation calculator, you come out with an amount significantly less than $45.2B (I got $37.19B). In other words, Prop. 13 has not been as big a hindrance to revenue to the state as it is made out to be sometimes, but a real source of stable revenue that surpasses inflation.
The more interesting data to look at on that chart is how the percentage of the state budget devoted to the different distribution classes has changed. In 1994 the state used over 50% of that property tax revenue on schools while it is less than 40% in 2008. It would be interesting to look at a graph showing the changes over each year. Since the chart shows only the distribution of property tax revenue, it would be interesting to see a similar chart for non-property tax revenue distribution.
Anyway, the publication is a good introduction.
Nominations due Monday for TV30’s Tri-Valley ‘Coach of the Year’ award
By Jeb Bing | 1 comment | 311 views
Readers' Choice Ballot is here
It's time to decide what local business is worthy of the title "Pleasanton Readers' Choice" â€” and you get to decide! Cast your ballot online. Voting ends May 21st. Stay tuned for the results in the June 23rd issue of the Pleasanton Weekly.