The Property Tax Inheritance Exclusion

Oct 9, 2017 - The typical home inherited in Los Angeles County during the past decade had been owned by the parents for nearly 30 years. For a home owned this long, the inheritance exclusion reduces the child ’s property tax bill by $3,000 to $4,000 per year.
https://lao.ca.gov/Publications/Report/3706

Building Reserves to Prepare for a Recession

Mar 7, 2018 - Budget Stabilization Account Proposition   58 Governed BSA From 2004 t o 2014. Until 2014, the BSA was governed by Proposition  58. Passed by voters in 2004, Proposition   58 r equired the state to make an annual transfer into the BSA.
https://lao.ca.gov/Publications/Report/3769

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

The 2018-19 May Revision: LAO Economic Outlook

May 12, 2018 - The typical PE ratio since 1990 is 21 (19 if the dot-com bubble of the late 1990s and early 2000s is excluded). Similar to the price-to-earnings ratio, the home price-to-rent ratio is used to gauge if home prices are in line with underlying demand for housing.
https://lao.ca.gov/Publications/Report/3829

Managing California’s Cash

Sep 3, 2019 - After a period of relative calm in the mid ‑ and late ‑1990s, California faced another series of years with acute budget problems following the dot ‑com bust and ensuing recession. 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.
https://lao.ca.gov/Publications/Report/4092

How Will Aging Baby Boomers Affect Future Property Tax Revenues?

Jun 20, 2017 - California voters, however, passed Proposition  58 in 1986, which amended the California Constitution to exempt transfers between parents and children (and later grandparents and grandchildren under certain circumstances under Proposition  193 [1996]) from revaluation.
https://lao.ca.gov/Publications/Report/3693

The 2026-27 Budget: CDTFA’s Cannabis and Tobacco Programs

Feb 23, 2026 - The Governor proposes augmentations of $3.8  million in 2026 ‑27, $3.7  million in 2027 ‑28, $3.7  million in 2028 ‑29, and $1.2  million in 2029 ‑30 and ongoing from the Compliance Fund for the Tobacco Licensing Program to enforce AB  3218 and other flavor ban laws.
https://lao.ca.gov/Publications/Report/5132

California’s Low-Wage Workers and Minimum Wage

Mar 11, 2024 - Based on state and federal laws, we define housing as affordable if the rent falls below 30 percent of the household’s gross income. Housing in Major Metro Areas Unaffordable for Minimum-Wage Workers.
https://lao.ca.gov/Publications/Report/4878/3

The 2025-26 California Spending Plan: Other Provisions

Oct 16, 2025 - The budget includes a $10  million reappropriation of General Fund originally provided in 2024-25, as well as an extended encumbrance period (through June 30, 2029), for the LEMA system pilot project.
https://lao.ca.gov/Publications/Report/5081

Fixing Unemployment Insurance

Dec 2, 2024 - During the phase ‑in period, the state also entered the dot ‑com recession. These two cost pressures absorbed the remaining flexibility in the state ’s UI tax system. As  shown in Figure  4 , the state began this period in Schedule C but quickly moved to Schedule F+, the highest tax schedule, where it has remained since.
https://lao.ca.gov/Publications/Report/4943