State Controller Yee Provides Property Tax 101
Understanding Prop. 13
and Property Tax Administration
In California, property taxes are the main revenue source for local governments. With assessed values in excess of $6.1 trillion, revenue from property tax was nearly $66.5 billion for Fiscal Year 2017-18. The revenue was used to fund schools, law enforcement, parks, and other public services. In general, the funds are allocated 15 percent to counties, 12 percent to cities, 19 percent to special districts, and 54 percent to schools. Continue reading..