Over $5.4 million will be taken out of Lassen schools' local property taxes to fund the state's debts this fiscal year. Lassen County K-12 school districts will see a minimum of $3,388,356 still owed to them when the school year ends (June 2014). Lassen Community College District will also face deferrals, exceeding $1 million of its revenue this year. In the most recent available data (2011-12), $5,455,136 was taken out of Lassen school-allocated property tax, $4,953,565 for the VLF "Swap" and $501,571 to pay for the 2004 Economic Recovery Bonds.
Sources: State Controller's Office, Local Government Reporting Section. (City and county detail shown in the reports, totals upon request from the SCO.) California Department of Education, First Principal Apportionment.
In Lassen County, a total of $5,722,092 was taken out of school-allocated property taxes to pay State obligations in 2010-2011. $5,112,109 was redirected to satisfy the State's VLF backfill obligation. $609,983 was redirected to pay for the State's 2004 Economic Recovery Bonds.
Source: State Controller's Office, Local Government Reporting Section. (City and county detail shown in the reports, totals upon request from the SCO.)