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Board of Equalization releases FY 2023—24 annual report showing $8.7 trillion net assessed value and $95 billion local property tax revenue
Summary
Executive Director Yvette Stowers presented the Board of Equalization's fiscal year 2023—24 annual report, which reports $8.7 trillion in net assessed value (lien date 1/1/2024) and approximately $95 billion in local property tax revenue distributed to schools, counties, cities and special districts.
Executive Director Yvette Stowers presented the Board of Equalization's fiscal year 2023—24 annual report during the April 20 meeting, summarizing property-tax data, exemptions, and BOE activities during the reporting year.
Stowers told the board the total net assessed value for the year (net of exemptions) was $8,700,000,000,000, which includes $8,600,000,000,000 in locally assessed property and $152,200,000,000 in state-assessed property. The report shows approximately $95,000,000,000 in total local property tax revenue for fiscal year 2023—24, an increase of about $6 billion (7%) year over year. Stowers noted that roughly 54 cents of every property-tax dollar goes to public schools, with counties, cities…
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