Our Fiscal Outlook assumes continued growth in assessed values.
With the upcoming end of the "triple flip," a complex, decade-old mechanism affecting state and local finances in California, we have received several inquiries seeking a basic understanding of what the triple flip is and how its end will work exactly. This note addresses those issues.
The property tax is the largest source of local tax revenue for all local governments combined.
In February 2012, over 400 redevelopment agencies were dissolved, and the process of unwinding their financial affairs began.