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Thursday, November 21, 2024

Property tax revenue up 13.5% from previous quarter in California

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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 $949 million in property taxes during the first quarter, a 13.5% increase over the fourth quarter of 2023, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Property tax revenue for the fourth quarter of 2023 was $836 million.

Overall, California collected $64 billion in combined tax revenues in the first quarter, a decrease from the $70.8 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.

Q1 California Tax Collections
Type of TaxAmount (millions)
Property Taxes$949
Sales and Gross Receipts Taxes$18,610
Income Taxes$36,292
License Taxes$4,003
Other Taxes$4,117
Source: U.S. Census Bureau

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