In Yuba County, a total of $9,296,439 was taken out of school-allocated property taxes to pay State obligations in 2010-2011. $8,439,953 was redirected to satisfy the State's VLF backfill obligation. $856,486 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.)
Over $9 million a year of Yuba County's school-allocated property taxes are redirected to meet the State's obligations. The County Treasurer-Tax Collector's website (below) doesn't reflect this transfer. Local residents could be forgiven for thinking that 68% of their property taxes support their schools. But let's do the calculations!
Yuba County had $4.678 billion in assessed property value in 2011-12. The 1% Levy therefore generated $47 million in property taxes. From the California Department of Education's Ed-Data website, we can see that $17.8 million of local property tax flowed to Yuba County K-12 districts. From the Chancellor of California Community Colleges website, we can see that $20.6 million went to Yuba Community College District, of which $3.4 million came from Yuba County (YCCD also serves Butte, Colusa, Glenn, Lake, Sutter and Yolo counties).
So, the total property tax actually distributed to schools in Yuba County would appear to be about 45%. Add the $9 million that's been diverted (20%) and we're approaching the 68% shown. The Initiative addresses this major transparency issue by assuring that local property taxes allocated to schools GET to schools!
Over $9.8 million will be taken out of Yuba schools' local property taxes to fund the state's debts this fiscal year. Yuba County K-12 school districts will see a minimum of $9,021,866 still owed to them when the school year ends (June 2014). Yuba Community College District will also face deferrals, exceeding $4.5 million of its revenue this year. In the most recent available data (2011-12), $9,870,645 was taken out of Yuba school-allocated property tax, $8,257,894 for the VLF "Swap" and $1,612,751 to pay for the 2004 Economic Recovery Bonds.
Can Yuba schoolchildren afford to finance the state's debts? According to the new Local Control Funding Formula, Yuba County needs 58.9% more funding to adequately educate its student population than it's getting this school year.
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.