^[PDF] Overview of Proposition 98 Budget

Proposes $10 Billion in Solutions  Raises $7.2 billion in revenue, primarily through tax increase to be on November ballot. (Tax increase offset by $2.5 billion increase in Proposition 98 funding.)  Makes $4 billion in expenditure reductions.  Takes $1.4 billion in other actions.  Leaves state with roughly $1 billion reserve.
https://lao.ca.gov/handouts/education/2012/Overview_of_Proposition_98_Budget_030612.pdf

Overview of the 1997-98 May Revision

An additional $205 million is required in order to offset lower anticipated property taxes due to (1) a $105 million reduction in the anticipated growth in property taxes and (2) a proposed $100 million shift of property taxes from schools to local government.
https://lao.ca.gov/1997/051997_may_revision/pb051997_may_revision.html

^[PDF] The 2024-25 Budget: Proposition 98 Overview and K-12 Education

(Dollars in Millions) Minimum Guarantee General Fund $68,563 $74,633 $76,894 Local property tax 29,742 30,953 32,185 Totals $98,306 $105,586 $109,080 Change From Prior Year General Fund -$15,190 $6,070 $2,261 Percent change -18.1% 8.9% 3.0% Local property tax $2,942 $1,211 $1,232 Percent change 11.0% 4.1% 4.0% Total guarantee -$12,248 $7,281 $3,493 Percent change
https://lao.ca.gov/handouts/education/2024/Proposition-98-Budget-Overview-022924.pdf

^[PDF] The 2024-25 Budget: Proposition 98 Overview and K-12 Education

(Dollars in Millions) Minimum Guarantee General Fund $68,563 $74,633 $76,894 Local property tax 29,742 30,953 32,185 Totals $98,306 $105,586 $109,080 Change From Prior Year General Fund -$15,190 $6,070 $2,261 Percent change -18.1% 8.9% 3.0% Local property tax $2,942 $1,211 $1,232 Percent change 11.0% 4.1% 4.0% Total guarantee -$12,248 $7,281 $3,493 Percent change
https://lao.ca.gov/handouts/education/2024/Proposition-98-Budget-Overview-022724.pdf

^[PDF] Local Government Finances

FOR EXAMPLE, THE HOMEOWNER'S PROPERTY TAX RELIEF PROGRAM PROVIDES REIMBURSEMENT TO LOCAL GOVERNMENTS FOR THE PROPERTY TAX REVENUE LOST AS A RESULT OF THE HOMEOWNER'S EXEMPTION~ THUS, THE PROGRAM SHOULD REALLY BE CONSIDERED AS ASSISTANCE TO HOMEOWNERS, RATHER THAN LOCAL GOVERNMENTS.· AN ESTIMATED $6 BILLION, OR APPROXIMATELY 1/3 OF ALL LOCAL ASSISTANCE IN THE
https://lao.ca.gov/reports/1983/local_government_finances.pdf

2007 Initiative Analysis:Medical Expense Tax Deduction

2007 Initiative Analysis:Medical Expense Tax Deduction About the LAO November 26, 2007 Pursuant to Elections Code Section 9005, we have reviewed the statutory initiative relating to state taxation (A.G.
https://lao.ca.gov/ballot/2007/070808.aspx

LAO Transportation

Accordingly, we recommend the Legislature place a measure on the next ballot to seek voter approval to issue $800 million in gas tax revenue bonds to fund these projects. ««
https://lao.ca.gov/Policy-Areas?areaId=9&category=0&year=0&page=8

Proposed Reserves in the Governor’s May Revision

May 17, 2016 - Since the Governor released his budget proposal in January, the administration has revised its estimate of personal income taxes resulting from capital gains income in 2015 through 2017. This results in lower BSA deposit estimates for 2015-16 and 2016-17.
https://lao.ca.gov/Publications/Report/3463

LAO Publications

Format: Why Have Sales Taxes Grown Slower Than the Economy? August 5, 2013 - The sales and use tax is the state’s second largest revenue source as well as a major funding source for cities, counties, and some special districts.
https://lao.ca.gov/publications?page=55&year=0&publicationType=0

LAO Publications

Format: The 2018-19 Budget: California’s New Tax Departments April 4, 2018 - In 2017, the Legislature passed two laws that made major changes to tax administration and appeals in California. Prior to these laws, the Board of Equalization (BOE) had administr ative and appeals responsibilities for many taxes and fees.
https://lao.ca.gov/publications?page=6&year=0