Public Finance in California's Central Coast Region
Contents
Summary
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 [1].
Prop. 218 (1996)
Prop. 26 (2010)
References
Links
Disclaimer
This page may contain student work completed as part of assigned coursework. It may not be accurate. It does not necessary reflect the opinion or policy of CSUMB, its staff, or students.