Tax highlights for fiscal year 2020-21 released by San Mateo County’s Controller Office showed the Peninsula continued to experience financial growth over the year despite a pandemic-related economic downturn.
Juan Raigoza
“Property taxes are an important source of funding for local governments, enabling them to provide services to their communities such as fire protection, public safety, health services and education,” Controller Juan Raigoza wrote in the Fiscal Year 2020-21 Property Tax Highlights document.
The county marked its 10th consecutive year of property tax growth in fiscal year 2020-21, collecting a total of $3.2 billion in combined property taxes, up 6% or $194 million compared to last year.
Of that, $2.6 billion was collected through the county’s 1% General Tax, an increase of $168 million or roughly 7% compared to last year. Those funds are distributed among a number of agencies with 47% going to school districts, 25% to the county, 15% to cities, 11% to special districts and 2% to former redevelopment agencies.
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Cities that received the most from the fund include San Mateo at $64 million, Redwood City at $63 million, South San Francisco at $41 million, Daly City with $39 million and Menlo Park with $27 million.
Nearly $340 million in special charges were collected to cover sewer maintenance, flood control and other services in cities and special districts. An additional $295 million in taxes was collected to support voter-approved debts, largely going toward local school bonds.
The county’s top 10 taxpayers for fiscal year 2020-21, covering 6.37% of total taxes billed or $204 million, include Genentech with $33.9 million; Pacific Gas and Electric with $30.6 million; Gilead Sciences Inc. with $29.1 million; United Airlines with $23.6 million; real estate firm Hibiscus Properties LLC with $22.6 million; Google Inc. with $17 million; Facebook Inc. with $14 million, real estate firm Slough BTC LLC with $12.4 million; real estate firm ARE with $12.2 million; and real estate firm HCP Oyster Point with $8.6 million.
Raigoza asserted the diverse industries from which the companies come “confirms that the county’s tax base is broad and does not rely on a limited number of taxpayers or industries.”
Next time one hears that Prop 13 caused the demise of school funding, consider this report. The San Mateo County public school systems are receiving $1,500,000,000 for education but, and remember but, it is never enough. Clearly a lot of this money is wasted on undefined and non-educational activities.
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Next time one hears that Prop 13 caused the demise of school funding, consider this report. The San Mateo County public school systems are receiving $1,500,000,000 for education but, and remember but, it is never enough. Clearly a lot of this money is wasted on undefined and non-educational activities.
School choice is one answer.
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