Now that you’ve paid your state income and property taxes – at least let’s hope so – take this eight question quiz on California’s budget, state and local taxes. The answers will appear on the Hollister Free Lance website shortly and in Free Lance next week.
1. The largest fund of California’s $127.3 billion total budget is the General Fund, $86.5 billion in 2010-2011. The proposed state General Fund budget for 2012-2013 is about –
A. $82.5 billion
B. $86.5 billion
C. $89.5 billion
D. $92.5 billion
E. $94.5 billion
2. California estimates its 2012-2013 total state revenue will equal $122.7 billion. The largest portion of state revenues will come from what single category –
A. Corporation Taxes
B. Motor Vehicle Fees
C. Personal Income Taxes
D. Property Taxes
E. Sales and Use Taxes
3. The state’s largest General Fund expenditure category, including bond funds, is –
A. Business, Transportation & Housing
B. Corrections and Rehabilitation
C. Health and Human Services
D. Higher Education
E. K-12 Education
4. SBC property tax values fell more than 17 percent from 2008-2012. $6.7 million of the total county $55.7 million annual property tax assessment will be apportioned to ERAF. What does ERAF stand for and what program gets that extra funding –
A. Educational Revenue Augmentation Fund – extra funds for education
B. Emergency Redevelopment Agency Fund – funds to help finance closing RDA obligations
C. Emergency Reconstruction Aid Fund – seismic upgrades of public buildings
D. Energy Renewable Assets Fund – funds for renewable energy programs
E. Environmental Resources Agency Fund – funds to mitigate climate change
5. In 2004-2005 statewide property tax revenues were $34.5 billion they grew to $43.1 billion before the crash of 2006-2007. In 2009-2010 the statewide property tax revenues were –
A. $34.5 billion
B. $38.3 billion
C. $43.1 billion
D. $47.2 billion
E. $49.2 billion
6. San Benito County property taxes – excluding special assessments – are apportioned (broken up) between schools, the county, the cities, etc. Which statement best describes how property taxes are apportioned throughout California counties –
A. Each county decides how it wants to apportion its own property tax revenues.
B. The state has set property tax apportionments that are approximately equal for all counties.
C. The state has set property tax apportionments that are very different for each county.
D. Apportionments are based, primarily, on total property taxes collected by a county.
E. Apportionments are based, primarily, on the total property taxes in the state.
7. In tax year 1990 California’s personal income tax liability for resident returns averaged 4.5 percent of taxable income (your personal rate will vary – greatly). In tax year 2009 California’s total personal income tax liability for resident returns averaged what percent of taxable income?
A. 4.3 percent
B. 4.5 percent
C. 5.0 percent
D. 5.3 percent
E. 5.5 percent
8. Comparing tax year 2006-2007 to tax year 2009-2010, which California tax or fee category had the largest revenue drop measured in dollars?
A. County assessed property taxes
B. State environmental fees
C. State excise taxes
D. State personal income taxes
E. State sales and use taxes
Marty Richman is a Hollister resident whose column appears Tuesdays.
