Page 9 - 2022 Popular Annual Financial Report

property tax PROPERTY TAX REVENUES

FY 2018/19 FY 2019/20 FY 2020/21 FY 2021/22
FY 2017/18
&SALES TAX $40

$30
property TAX
The City’s most significant source of revenue is property MILLIONS $20
tax paid by its residents and businesses. Property $33 $35 $38 $41 $43
taxes are largely determined by the State of California
but also include local (voter approved) special taxes $10
and any other county or city assessments. The County
of Riverside collects property taxes and disseminates $0
the revenues to various taxing agencies.
SALES TAX REVENUES
how are FY 2017/18 FY 2018/19 FY 2019/20 FY 2020/21 FY 2021/22
PROPERTY TAXES DETERMINED? $40
The County Assessor first determines the value of your
property, which is based upon the cash or market value $35
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 $30
fy 2021/2022 revenues: $138,064,549 time it must be reassessed. After the Assessor has
determined the property value, the County Auditor-
Controller applies the appropriate tax rates. A typical $25
California property tax bill consists of many taxes and
charges, the largest of which is a 1% general tax levy $20
charged uniformly across the State.

$15

sales TAX MILLIONS $10
Sales tax collections generated the City’s second highest $19 $21 $20 $26 $41
revenue source in FY 21/22 at $40.6 million. $5

why shopping locally IS IMPORTANT $0
Sales tax is a vital source of revenue for the City,
used to pay for many critical public services,
such as emergency responders, law enforcement, STATE GENERAL FUND - 50% STATE LOCAL MORENO VALLEY
infrastructure improvements and other government Supports a wide variety of REVENUE FUND - 20% GENERAL FUND - 13%
programs and services. Shopping locally helps keep programs, including K-12 Supports various health and Supports critical local services
education, higher education,
including public safety and
social service programs such
your tax dollars in your community, and ensures health and criminal justice as probation, mental health, infrastructure.
those dollars are reinvested many times over in programs. drug and alcohol, and foster
everything from police and roads to trash pick-up and care programs.
community programs. COUNTY STATE LOCAL
TRANSPORTATION FUNDS - 10%
PUBLIC SAFETY FUNDS - 7%
Supports traffic congestion Supports local public safety
relief, traffic safety, and air programs.
where does my SALES TAX GO? quality improvement programs.
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 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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