Page 9 - 2021 Popular Annual Financial Report

property tax

&SALES TAX

property TAX PROPERTY TAX REVENUES

The City’s most significant source of revenue is property tax paid by its residents and businesses. FY 2016/17 FY 2017/18 FY 2018/19 FY 2019/20 FY 2020/21
Property taxes are largely determined by the State of California but also include local (voter
$40
approved) special taxes and any other county or city assessments. The County of Riverside
collects property taxes and disseminates the revenues to various taxing agencies.
$30

how are PROPERTY TAXES DETERMINED? MILLIONS $20
The County Assessor first determines the value of your property, which is based upon the cash or $31 $33 $35 $38 $41
market value of your home at the time of purchase. By law, this value increases no more than 2% $10
per year until the property is sold or any new construction is completed, at which time it must be
reassessed. After the Assessor has determined the property value, the County Auditor-Controller $0
applies the appropriate tax rates. A typical California property tax bill consists of many taxes and
charges, of which is a 1% general tax levy charged uniformly across the State.

sales TAX
Sales tax collections generated the City’s second highest revenue source in FY 20/21 at $25.7 million. SALES TAX REVENUES
FY 2016/17 FY 2017/18 FY 2018/19 FY 2019/20 FY 2020/21
why shopping locally IS IMPORTANT $25

Sales tax is a vital source of revenue for the City, used to pay for many critical public services, such
$20
as emergency responders, law enforcement, infrastructure improvements and other government
programs and services. Shopping locally helps keep your tax dollars in your community, and $15
ensures those dollars are reinvested many times over in everything from police and roads to
MILLIONS $18 $19 $21 $20 $26
trash pick-up and community programs. $10

where does my SALES TAX GO? $5
The sales tax rate inside the City limits of Moreno Valley is 7.75% of eligible sales. Of the 7.75%,
6.00% goes to the State of California, with approximately 4% going to the State’s General Fund $0
and 2% going to State managed funds that support local programs. The remaining 1.75% stays
local, with 1% supporting the City’s General Fund and .75% supporting County of Riverside
transportation funds.

STATE GENERAL FUND - 50% MORENO VALLEY GENERAL FUND - 13%
Supports a wide variety of programs, Supports critical local services
including K-12 education, higher including public safety and
education, health and criminal justice infrastructure.
programs.
COUNTY TRANSPORTATION FUNDS - 10%
Supports traffic congestion relief, traffic
STATE LOCAL REVENUE FUND - 20% safety, and air quality improvement
programs.
Supports various health and social
service programs such as probation,
mental health, drug and alcohol, and STATE LOCAL PUBLIC SAFETY FUNDS - 7%
foster care programs.
Supports local public safety programs.
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