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Monday, December 23, 2024

California's Q4 2022 property tax revenue down 7.2% from previous quarter

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Malia M. Cohen, California Controller | Board of Equalization (State of California Board of Equalization)

Malia M. Cohen, California Controller | Board of Equalization (State of California Board of Equalization)

California collected $825 million in property taxes during the fourth quarter of 2022, a 7.2% decrease from the third quarter of 2022, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Property tax revenue for the third quarter of 2022 was $889 million.

Overall, California collected $57.4 billion in combined tax revenues in the the fourth quarter of 2022, an increase from the $51.6 billion collected in the previous quarter.

In addition to detailed tax revenue data from each state, the Quarterly Summary of State and Local Government Tax Revenue includes an estimate of state and local government tax revenue at a national level.

The Census Bureau cautions that it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments.

Q4 2022 California Tax Collections
Type of TaxAmount (millions)
Property Taxes$825
Sales and Gross Receipts Taxes$19,151
Income Taxes$33,466
License Taxes$3,210
Other Taxes$739
Source: U.S. Census Bureau

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