Want to Know How Much Money in Local School Property Taxes Your County has Lost?
Interested in how this affects your community? On average, over $1,000 per student in each revenue-limit (state subsidized) school was redirected. Two-thirds of it was repaid promptly -- but 30%, over $300 per student, consistently became a 'deferral' in recent years to be repaid when the State had more money. Find your county below. (Indicated in parentheses are those where more than $1,500 per student was redirected.)
Please check our Transparency section to understand why these numbers are rounded.
Then, read more! Insufficient ERAF: Examining A Recent Issue in Local Government Finance from the Legislative Analyst's Office outlines these transfers. Do note the fact that the authors do not seem to realize that shifting the "stable" property tax revenue flow under "local control" meant causing real harm to California education.
Complicated financial transactions often have the effect of separating causes and effects, as we saw with the financial meltdown.