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Reply #56


Response to KamaAina (Reply #35)

Mon May 14, 2012, 09:04 AM

56. Perhaps not, but it's such a small piece of the state's revenue that it wouldn't do squat...

 

...in terms of reducing the deficit even if both commercial and residential rates were increased.

Note that property taxes aren't even listed as one of the major line items in the state's budget summary. Property taxes are collected by the counties, not by the state. The state gets a piece of the money. That's one component of the figure shown as "transfers" on the budget summary. You can see that transfers (which go both ways) amount to a very small piece of the state's revenue.

http://www.ebudget.ca.gov/pdf/BudgetSummary/RevenueEstimates.pdf

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