GAINES GAZETTE

May 2024

May Board Actions

During the May Board meeting, we adopted the Railroad Revitalization and Regulatory Reform Act (4-R Act) ratio for the current fiscal year and set unitary values of state-assessed properties. We also adopted statewide property tax forms and guidelines for appraiser certification and training.

The Board received operational updates from the Executive Director, including information about Board supported legislation and highlights of the Governor’s 2024-25 revised budget; Taxpayers’ Rights Advocate Office; Property Tax Department Deputy Director; and the Legislative, Research & Statistics Division Chief.

Finally, we discussed various Board member matters, including reports on the Veterans’ Exemption, Disabled Veterans’ Exemption, and Homeowners’ Exemption Board Work Groups 

We are proud as a Board to meet our constitutional duties and remain committed to our mission to serve Californians through fair, effective, and efficient tax administration in support of state and local governments.

Governor's Revised 2024-25 State Budget

Governor Newsom released his revised $288 billion state budget proposal for the 2024-25 fiscal year that begins July 1. Unfortunately, our state has gone from a $100 billion budget surplus just two short years ago, to now a $28 billion deficit.

Given that we are facing another year of economic uncertainties, we need to make sure our spending priorities are in order. According to the Legislative Analyst’s Office, even with the Governor's proposals to cut and reduce spending to shrink the deficit, they would still need to "take $7 billion in additional budget actions to balance the budget.” 

I applaud the Governor's commitment to avoiding tax increases, but let's also make a commitment to stop wasting taxpayer money on failed projects like High-Speed Rail. Let's focus on spending smarter on real issues impacting hardworking California families, like affordability, housing, water storage, jobs, and crime.

The Legislature’s deadline for sending a budget bill to the Governor is June 15.

Around the First District

As a small family business owner, I know first-hand how difficult it can be to keep the doors open and the lights on in California. That’s why I love being part of the Family Business Association of California, a nonprofit focused solely on fighting for family businesses at the state Capitol. I recently had the opportunity to speak at their 12th Annual Capitol Conference and share the role of the BOE and how I work as a taxpayer advocate for all families and businesses.

Thanks to the Taxpayers’ Association of El Dorado County for inviting me to speak at their May meeting. This is a group of fighters! They’ve been working for decades to keep state and local taxes reasonable and fair for taxpayers. They are one of the many reasons El Dorado County is such a great place to live and raise a family. I shared info about the BOE, our important work and my efforts to serve as your taxpayer advocate!

It was my honor to attend a Memorial Day Service at the El Dorado County Veterans Monument in Placerville. I brought along my granddaughter and together we remembered the heroes who made the ultimate sacrifice to protect our great nation. Thanks to the El Dorado County Veterans Alliance for hosting such a special event.

Wildfire Season is Here!

Summer is nearly here and so is wildfire season. Be prepared, and do your part for your safety and that of the entire state. These are some basic ways to stop a wildfire before it starts. Visit readyforwildfire.org for more tips on preparing yourself and your community.

BOE Adopts $154.8 Billion in Assessed Property Values for Fiscal Year 2024-25

The BOE has unanimously adopted the $154.8 billion in assessed property values of 321 companies within California, which include telephone, gas, and electric companies, independent power producers, regulated railroads, and intercounty pipelines. In the upcoming fiscal year, schools and local communities statewide will receive a total of approximately $2.5 billion in property tax revenue resulting from the Board exercising one of its core constitutional functions.

Whereas most property in California is assessed by County Assessors, the BOE is constitutionally assigned to directly assess certain public utilities, regulated railroads, and intercounty pipelines throughout the state. Also, these properties are not subject to Proposition 13, and the BOE must annually determine the fair market value of the unitary property that includes improvements, personal property, and land. The BOE develops the fair market value by considering market conditions, use of and income generated by the property, replacement costs, investments in the property, regulatory climate, depreciation, and other factors as of the January 1 lien date.

For fiscal year 2024-25, the total value increased by 6.2% from last year or $9.1 billion, generating approximately $148 million in additional tax dollars. County governments will use the values set by the BOE to levy local property taxes.

This is in addition to the BOE's oversight of California's 58 County Assessors who collected approximately $89 billion in county-assessed local property tax revenue in Fiscal Year 2022-2023.

The entire list of assessed property values and more information on the State-Assessed Properties Program is available on the BOE website.

As a Board Member, my number one priority is to advocate for taxpayers. I believe hardworking Californians deserve to have someone working on their behalf to streamline and promote efficiency in state government.

Should you need assistance with tax-related problems or have questions, visit my website for information on how to contact my office or email me directly anytime.

Monthly Board Meeting: June 25-26, 2024