Policy Brief: Reversing the Property Tax Shifts

Policy Brief: Reversing the Property Tax Shifts Legislative Analyst's Office, April 2, 1996 Reversing the Property Tax Shifts Summary In 1992-93 and 1993-94, the state shifted about $4 billion in property taxes from certain local agencies to schools.
https://lao.ca.gov/1996/040296_prop_tax_shifts/pb040296.html

Bond Debt Update

If the Governor's tax cut proposal is enacted, the range of bond sales over the period shown in Figure 1 would be reduced by about $5 billion under each debt level. The data in Figure  1 are intended to illustrate the state's debt capacity under different assumptions.
https://lao.ca.gov/1996/051996_bond_debt/pb051996.html

State Spending Plan for 1996-97 - Chapter 1

This tax cut is in lieu of the Governor's proposal for a phased 15 percent reduction in both personal and corporation income tax rates. The enacted tax cut is projected to reduce revenues by $85 million in 1996-97, growing to $290 million when fully implemented in 1998-99.
https://lao.ca.gov/1996/100796_spend_plan/96spendplan_ch1.html

California's Fiscal Forecast 1997-98--Table of Contents

Our fiscal projections reflect current-law spending requirements and tax provisions. They are not predictions of future policy decisions by the Legislature, nor are they our recommendations as to what spending and revenue levels should be.
https://lao.ca.gov/1997/112097_fiscal_outlook/1997_fiscal_outlook_foreword_toc.html

May 1997 Cal Update

In addition, there were moderate gains in sales and use taxes and in corporate income taxes. Combined with the cumulative gain in revenues of $305  million relative to the budget estimate that was experienced through March, the April gain for the major taxes brought cumulative 1996-97 revenues to about $825  million above the January budget estimate.
https://lao.ca.gov/1997/cal_update/may_97_calupdate.html

^[PDF] A Primer on the Vehicle License Fee An LAO

..................................................... 6 IS THE VLF TAX DEDUCTIBLE? ................................................................... 7 WOULD LOCAL GOVERNMENTS BE AFFECTED BY A VLF TAX CUT?
https://lao.ca.gov/1998/061798_vlf_primer/061798_vlf.pdf

1998 Cal Facts State Finances

Sales Tax Rates Vary by County Sales tax rates vary by county because of the optional sales taxes which counties can choose to levy. Existing sales tax rates range from a low of 7.25 percent in counties with no local option taxes, to a high of 8.5 percent in the City and County of San Francisco.
https://lao.ca.gov/1998/1998_calfacts/98calfacts_state_finances.html

Chapter 1: The Budget Outlook

Nor are they our recommendations of what tax and spending policies oug ht to be. Rather, our estimates are a baseline projection of what would happen if current policies were allowed to run their course.
https://lao.ca.gov/1998/1998_fiscal_outlook/1998_fiscal_forecast_chapter_1.html

Cal Update May 98--Revenues Up Sharply

Revenues Exceed Expectations General Fund revenues from the state's major taxes exceeded the January budget forecast by $1.3 billion in April, primarily reflecting much stronger-than-expected final personal income tax payments.
https://lao.ca.gov/1998/cal_update/may_98_calupdate.html

October Update

However, given the normal volatility in these payments, the softness could also be due to normal quarterly fluctuations in estimated taxes. Other key revenue sources including income tax withholding, sales taxes, and corporation tax prepayments were generally on target during the first quarter of 1998-99.
https://lao.ca.gov/1998/cal_update/oct_98_calupdate.html