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Property Tax Revenues to Drop in Sacramento

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(Sacramento, CA)
Tuesday, July 5, 2011
The Sacramento County Assessor's office has come up with a value for the county's properties and the result is not good for the county's general fund.  Property values dropped by four billion dollars from last year.  That means the amount of property tax collected should be about 40 million less than last year and the general fund will be short another 6 and a half million.    The county already dealt with a 69 million dollar shortfall this year.  A spokeswoman for the county tells Capital Public Radio News that county staff will look at other sources of income to see if they might make up for the drop in property tax revenue and then they will know if more cuts need to be made. 
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