Difference between revisions of "Public Finance in California's Central Coast Region"
From CCoWS Wiki
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===Examples=== | ===Examples=== | ||
=Barriers to Financing Water Projects in California= | =Barriers to Financing Water Projects in California= | ||
| − | == | + | ==Proposition 13 (1978)== |
| + | Prior to the passage of Proposition 13, municipalities and [[Special Districts]], including water districts, could levy their own property tax rates. Prop. 13 changed property tax law, limiting the amount of property tax that local governments could levy to 1% of the property's value. This immediately decreased local property tax revenues by over 50%. This 1% property tax levy now must be split among all of the agencies, usually at the same proportion as before Prop. 13 <ref name = "PPCI Paying for Water"> http://www.ppic.org/main/publication.asp?i=1086 </ref>. | ||
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| + | Prop. 13 also requires that all changes in state taxes be approved by 2/3 in the legislature, and that local special taxes be approved by 2/3 of local voters. | ||
| + | |||
==Prop. 218 (1996)== | ==Prop. 218 (1996)== | ||
==Prop. 26 (2010)== | ==Prop. 26 (2010)== | ||
Revision as of 10:21, 2 April 2015
Contents
Public Finance Instruments
Grant programs
Description
Examples
- 205j - under federal Clean Water Act
Bond measures
General Obligation Bonds
Description
Examples
Revenue Bonds
Description
Examples
Special Districts
Description
Examples
Taxes
Description
Examples
- Tax increment financing (TAMC is considering this, SANDAG has one already)
Assessments
Description
Examples
- Benefit Assessments - SVWP, MPRPD
- Constraints on assessments (Prop 218)
Impact Fees (Developer Impact Fees)
Description
Examples
Barriers to Financing Water Projects in California
Proposition 13 (1978)
Prior to the passage of Proposition 13, municipalities and Special Districts, including water districts, could levy their own property tax rates. Prop. 13 changed property tax law, limiting the amount of property tax that local governments could levy to 1% of the property's value. This immediately decreased local property tax revenues by over 50%. This 1% property tax levy now must be split among all of the agencies, usually at the same proportion as before Prop. 13 [1].
Prop. 13 also requires that all changes in state taxes be approved by 2/3 in the legislature, and that local special taxes be approved by 2/3 of local voters.
Prop. 218 (1996)
Prop. 26 (2010)
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