What % of property taxes goes to
Eighteen percent (18%) of a property’s basic property tax assessment goes to the Town of
Most property tax that you pay goes to finance the local public elementary, middle, and high schools and community colleges.
- Pension override tax (has been in place since the 1960s, pre-Prop. 13): .0910% of assessed valuation.
- Measure K bonds (approved by voters in 1999): .0416 of assessed valuation (will increase very slightly with the August 2006 sale of the last in the series of bonds.) The revenue is used for streets, drainage and infrastructure repairs.
- General Purpose tax (has been in place since 1980s?): $50 per living unit or business occupancy. Can be used for any governmental purpose.
- Special Purpose tax (Measure F 2005): $125 per living unit or business occupancy. Can only be used for specified purposes as approved by voters, i.e. police, fire, public works and youth program.
All of the above four taxes go exclusively to the Town of
As far as income tax is concerned, in case you are interested, less than 3% of Federal income tax makes it way to cities (most goes to federal defense spending and the national debt) and less than 1% of State income tax goes to cities (most goes to state colleges, health and human services, prisons, and the courts).