Over $2.7 million will be taken out of Plumas education-allocated local property taxes to fund the state's debts this fiscal year. Plumas County K-12 school districts will be among the most fortunate in the State, seeing perhaps just $231,917 still owed to them when the school year ends (June 2014). Even the additional deferrals slated for the Second Principal Apportionment announcement later in the year shouldn't raise this above $300,000.
However, Plumas Community College District will also face deferrals, exceeding $1 million of its revenue for this year.
In the most recent available data (2011-12), $2,726,568 was taken out of Plumas school-allocated property tax, $2,265,410 for the VLF "Swap" and $461,158 to pay for the 2004 Economic Recovery Bonds.
Can Plumas Community College students afford to finance the state's debts?
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 Plumas County, a total of $2,851,484 was taken out of school-allocated property taxes to pay State obligations in 2010-2011. $2,434,709 was redirected to satisfy the State's VLF backfill obligation. $416,775 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.)