Quantcast

Golden State Today

Wednesday, December 4, 2024

California's Q4 2023 property tax revenue down 5.4% from previous quarter

Webp 3wnzklb81tqwtr6ca4paz5qgu1w0

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 $836 million in property taxes during the fourth quarter of 2023, a 5.4% decrease from the third quarter of 2023, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Property tax revenue for the third quarter of 2023 was $884 million.

Overall, California collected $70.8 billion in combined tax revenues in the fourth quarter of 2023, an increase from the $49.5 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 2023 California Tax Collections
Type of TaxAmount (millions)
Property Taxes$836
Sales and Gross Receipts Taxes$19,188
Income Taxes$47,052
License Taxes$3,701
Other Taxes$26
Source: U.S. Census Bureau

MORE NEWS