Page 9 - 2023 Moreno Valley Popular Annual Financial Report

PROPERTY T AX & PROPERTY TAX REVENUES

S A L E S TA X

FY 2019/20 FY 2020/21 FY 2021/22 FY 2022/23
FY 2018/19

$40

$30
MILLIONS $20

PROPERTY TAX $10 $35 $38 $41 $43 $47

The City’s most significant source of revenue is property tax paid by its
residents and businesses. Property taxes are largely determined by the State $0
of California but also include local (voter 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.
SALES TAX REVENUES
HOW ARE PROPERTY TAXES DETERMINED? FY 2018/19 FY 2019/20 FY 2020/21 FY 2021/22 FY 2022/23

The County Assessor determines the value of your property, which is based $40
upon the cash or market value of your home at the time of purchase. By law,
this value increases no more than 2% per year until the property is sold or any
new construction is completed, at which time it must be reassessed. After the $30
Assessor has determined the property value, the County Auditor-Controller
applies the appropriate tax rates. A typical California property tax bill consists
of many taxes and charges, the largest of which is a 1% general tax levy MILLIONS $20
charged uniformly across the State. $21 $20 $26 $41 $36

$10

SALES TAX $0

Sales tax collections generated the City’s second
highest revenue source in FY 22/23 at $36.2 million.
STATE GENERAL FUND - 50% STATE LOCAL MORENO VALLEY
WHY SHOPPiNG LOCALLY IS Supports a wide variety of REVENUE FUND - 20% GENERAL FUND - 13%
Supports various health and
Supports critical local services
programs, including K-12
IMPORTANT education, higher education, social service programs such including public safety and
infrastructure.
as probation, mental health,
health and criminal justice
programs. drug and alcohol, and foster
Sales tax is a vital source of revenue for the City, care programs.
used to pay for many critical public services, such
as emergency responders, law enforcement,
infrastructure improvements and other government COUNTY STATE LOCAL
TRANSPORTATION FUNDS - 10%
programs and services. Shopping locally helps keep Supports traffic congestion PUBLIC SAFETY FUNDS - 7%
Supports local public safety
your tax dollars in your community, and ensures relief, traffic safety, and air programs.
those dollars are reinvested many times over in quality improvement programs.
everything from police and roads to trash pick-up
and community programs.
WHERE DOES MY SALES TAX GO?
The sales tax rate inside the City limits of Moreno
Valley is 7.75% of eligible sales. Of the 7.75%, 6%
goes to the State of California, with approximately
4% going to the State’s General Fund 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.
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