May 2026
Proposition 98 Overview
Comparing Proposition 98 Guarantee Under Governor's Budget and May Revision
In Millions
| 2024-25 | 2025-26 | 2026-27 | Three-Year Totals | |
| Governor's Budget | ||||
| General Fund | $91,197 | $87,473 | $89,877 | $268,546 |
| Local property tax | 32,636 | 33,947 | 35,604 | 102,187 |
| Totals | $123,833 | $121,420 | $125,480 | $370,733 |
| General Fund tax revenue | $213,420 | $222,181 | $228,467 | $664,068 |
| May Revision | ||||
| General Fund | $92,316 | $91,541 | $91,997 | $275,853 |
| Local property tax | 32,614 | 33,574 | 35,140 | 101,327 |
| Totals | $124,929 | $125,114 | $127,136 | $377,180 |
| General Fund tax revenue | $214,983 | $232,869 | $234,190 | $682,041 |
| Change | ||||
| General Fund | $1,119 | $4,068 | $2,120 | $7,307 |
| Local property tax | -23 | -373 | -464 | -860 |
| Totals | $1,096 | $3,695 | $1,656 | $6,447 |
| General Fund tax revenue | $1,563 | $10,688 | $5,723 | $17,973 |