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Go to slide: 1: Cracks in the Local Fiscal Foundation 2: What is the Local Fiscal Foundation? 3: City Revenues 4: Largest Source of General Purpose Local Revenues 5: Property Tax 6: Sales Tax 7: Vehicle License Fee 8: Strengths of Local Fiscal Foundation 9: Three “Cracks” in the Foundation 10: Crack One: Local Fiscal Control 11: Local Fiscal Control Spawns Greater Accountability 12: How Does California’s Local Government Fiscal Base Rate? 13: Property Tax Allocation 14: Property Tax Allocation 15: (Untitled) 16: Summary of Local Fiscal Control 17: Second Crack: Not Conducive to Broad Economic Growth 18: Instead, Local Fiscal System Encourages Cities and Counties to 19: What Fiscal Incentive Do Cities Face? 20: Third Crack: Different Tax Burdens for Similar Taxpayers 21: California’s Local Fiscal Foundation 22: Acquisition Value For Residential Properties 23: Acquisition Value For Non-Residential Properties 24: Summary: Three Cracks in Fiscal Foundation 25: What Should Commission Do? 26: Fixing Cracks in Foundation 27: More Ideas . . . 28: More Ideas . . . 29: More Ideas . . . 30: Suggestion to Commission