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Monday, December 23, 2024

Lower property tax revenue in California during Q2

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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 $890 million in property taxes during the second quarter, a 6.2% decrease from the first quarter, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Property tax revenue for the first quarter was $949 million.

Overall, California collected $84 billion in combined tax revenues in the second quarter, an increase from the $64 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.

Q2 California Tax Collections
Type of TaxAmount (millions)
Property Taxes$890
Sales and Gross Receipts Taxes$20,679
Income Taxes$54,507
License Taxes$3,730
Other Taxes$4,182
Source: U.S. Census Bureau

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