Property Tax Reductions to Diminish as Housing Market Improves [Publication Details]

May 5, 2014 - In total, temporary property tax reductions lowered local government property tax revenues by an estimated $7 billion in 2013-14, amounting to 15 percent of total property tax revenues statewide. However, real estate markets have recovered significantly over the past two years, and property tax payments for many of these property owners increased by as much as 20 percent in 2013-14.
https://lao.ca.gov/Publications/Detail/3010

Updates concerning April 2014 California tax collections.

May 11, 2014 - For the state 's "Big Three " General Fund taxes--the personal income tax (PIT), the corporation tax (CT), and the sales tax--April 2014 collections were a combined $529 million above the most recent projecti ons for that month.
https://lao.ca.gov/Recommendations/Details/803

Fewer tax refunds than projected in March. 13-14 revenues still above Governor's forecast.

Apr 16, 2014 - Sales Taxes Slightly Below Forecast for March. As of the end of February, sales taxes were $127 million below DOF ’s projections for 2013-14. Preliminary March data shows that sales taxes were just slightly below the DOF estimate for the month, bringing the 2013-14 year-to-date total for these taxes to $139 million below forecast.
https://lao.ca.gov/Recommendations/Details/802

Proposed pilot unlikely to provide reliable results

May 19, 2014 - Counties administer the property tax. While most local governments that receive property taxes reimburse the county for their proportionate share of administrative costs, scho ols and community colleges do not.
https://lao.ca.gov/Recommendations/Details/810

The 2018-19 Budget: Proposition 98 Outlook

Nov 15, 2017 - The personal income tax accounts for most of the revenue growth, increasing nearly $ 8  b illion (9. 5  p ercent) in 2017 ‑18 and nearly $ 5  b illion (5. 4  p ercent) in 2018 ‑19. Revenue from the sales and use tax and the corporate tax also increases, albeit more slowly.
https://lao.ca.gov/Publications/Report/3716

Related to the cultivation, use, possession, and sale of marijuana. [Ballot]

Aug 24, 2015 - Under the measure, these taxes would increase annually beginning on January  1, 2020 by the rate of inflation. The measure states that the Legislature could (1) reduce the above tax rates with a majority vote or (2) increase the above tax rates, or impose additional taxes on marijuana, with a two-thirds vote.
https://lao.ca.gov/BallotAnalysis/Initiative/2015-036

Psilocybin legalization. [Ballot]

Oct 16, 2017 - State and local governments could receive additional revenues, such as sales taxes from psilocybin sales permitted under this measure. This is because many individuals who are curr ently purchasing psilocybin illegally could begin purchasing it legally under state law at businesses that collect sales taxes.
https://lao.ca.gov/BallotAnalysis/Initiative/2017-024

Local Government Control [Ballot]

Sep 15, 2020 - The state and federal government help to subsidize the construction and rehabilitation of affordable housing deve lopment through tax credits for developers. The state provided $600  million in 2020-21 for tax credits to encourage the development of affordable housing.
https://lao.ca.gov/BallotAnalysis/Initiative/2020-002

Cap total annual compensation for executives at specified hospitals—including private nonprofit and for-profit hospitals—at the level of compensation received by the President of the United States. [B

Jan 11, 2016 - These potential responses depend, in part, on the covered hospital ’s tax status (taxable or tax-exempt). For example, consider the case of a private nonprofit hospital that is not subject to the corporate tax.
https://lao.ca.gov/BallotAnalysis/Initiative/2015-111

Tempered Expectations

Dec 9, 2019 - General Fund reliance on the personal income tax —and thus on capital gains-related income taxes in particular —has increased. Consequently, from a fiscal standpoint, the state could see revenue shortfalls commensurate with or greater than past recessions, especially if it were accompanied by a stock market correction.
https://lao.ca.gov/Publications/Report/4122