Building Reserves to Prepare for a Recession

Mar 7, 2018 - By most measures, the recession of the early 1990s was more severe than the dot ‑com bust in the early 2000s. For example, unemployment in California reached 9. 7  p ercent in mid ‑ to late ‑1992, but peaked at 6. 9  p ercent after the dot ‑com bust.
https://lao.ca.gov/Publications/Report/3769

The Property Tax Inheritance Exclusion

Oct 9, 2017 - By 2030, home  1 ’s bill would be one ‑third as much as home  2 ’s bill. In the absence of the inheritance exclusion, when home  1 passes to the original owner ’s child it would be reassessed. This would erase much of the difference in property tax payments between home  1 and home  2.
https://lao.ca.gov/Publications/Report/3706

The 2018-19 May Revision: LAO Economic Outlook

May 12, 2018 - Figure 1 Comparing Recent California Economic Scenarios Percent Change Unless Indicated Target federal funds rate (percent) 1.6 S &P 500 (annual average) 2,612 73 61 a An economic growth scenario based on Moody ’s Analytics ’ April 2018 U.S.
https://lao.ca.gov/Publications/Report/3829

Managing California’s Cash

Sep 3, 2019 - Although the dot ‑com bust was relatively mild in economic terms, it hit the California budget —which is particularly reliant on the Bay Area ’s technology sector —especially hard. Again, budgetary problems put pressure on the state ’s cash position as revenue receipts came in lower than expected.
https://lao.ca.gov/Publications/Report/4092

How Will Aging Baby Boomers Affect Future Property Tax Revenues?

Jun 20, 2017 - This is because the difference between a property ’s taxable value and market value tends to grow with increases in the (1) length of time the home has been owned and (2) pace of appreciation in the home ’s market value.
https://lao.ca.gov/Publications/Report/3693

The 2024-25 Budget: Governor's Office of Business and Economic Development

Feb 20, 2024 - We estimate the Governor ’s budget predicts the state ’s 2024-25 budget will need to address a $58 billion deficit . In December, our office predicted a somewhat large deficit of $68 billion . Since then, recent data has continued to point to the budget problem being larger than the Governor’s budget assumes.
https://lao.ca.gov/Publications/Report/4846

California’s Low-Wage Workers and Minimum Wage

Mar 11, 2024 - As shown in Figure  6, the 2024 statewide minimum wage is noticeably below half of the 2022-2023 full-time median wage. By this measure, the state ’s minimum wage is around where it was one decade ago.
https://lao.ca.gov/Publications/Report/4878/3

Fixing Unemployment Insurance

Dec 2, 2024 - These payroll taxes —the tax rate currently averages 3.5  percent on the worker ’s first $7,000  in annual wages, or about $250 per year for each worker —are paid into the state ’s UI trust fund. On  average, employers pay a total of $5  billion to $6  billion into the fund each year.
https://lao.ca.gov/Publications/Report/4943

The 2026-27 Budget: California Competes Extension

Mar 18, 2026 - Over 1,200 credit agreements have been approved by GO-Biz since the program ’s inception. Fiscal Effect of Program Is Variable. Figure  1 shows the value of credits claimed each year since the program ’s inception in 2014.
https://lao.ca.gov/Publications/Report/5162

The 2026-27 Budget: State Mandate—Disclosure Requirements and Deferral of Property Taxation

Feb 19, 2026 - Chapter  712 required property owners to request a deferment from the county within one year of receiving their first tax bill for the property, but before January 1, 2024. Additionally, Chapter  712 required Los Angeles County to print a disclosure on tax bills that provides a “brief summary ” of both the property tax relief under Proposition  19 and Chapter  712 ’s property tax deferment provisions.
https://lao.ca.gov/Publications/Report/5130