Board Of Equalization Issues 1998-99 Annual Report - News Release - 2000
Date: June 8, 2000
Customer and Taxpayer Services Division
Board Of Equalization Issues 1998-99 Annual Report
Reflecting continuing improvement in the California economy, revenues from the tax programs administered by the State Board of Equalization (BOE) increased by 7.1 percent in fiscal year 1998-99, yielding a record $35.53 billion for state and local government. Fiscal year sales and use tax revenues only grew by 6.6 percent to reach $30 billion, announced Dean Andal, Chairman, BOE. Revenues from the tax programs administered by the BOE provide essential services for California's citizens, from education and health care to transportation infrastructure and natural resource management.
Noteworthy facts found in the 1998-99 annual report include:
- Taxable sales in the state totaled $373 billion during the year, an increase of $22.8 billion, or 6.5 percent, over sales in 1997-98.
- Total sales and use tax revenues of $30 billion included more than $19 billion for state programs and services and nearly $11 billion for cities, counties, and special districts.
- Motor vehicle fuel taxes rose by 4.7 percent to just over $3 billion
- Collections from tobacco-related taxes, jumped dramatically in 1998-99 due to the January 1, 1999, implementation of voter-approved Proposition 10. Cigarette and tobacco products tax revenues grew by 51.1 percent to total nearly $977.8 million. In contrast, alcoholic beverage taxes increased a mere 0.8 percent to slightly more than $283 million.
- Statewide property tax levies for 1998-99 totaled $21.42 billion, an increase of 4.68 percent. County-assessed property values grew to $2.12 trillion for the 1999-00 tax year, an increase of $141 billion. The value of state-assessed properties - primarily privately-owned public utilities and railroads - was set by the Members of the Board at $68.41 billion, a decrease of $813 million from the previous year.
In addition to the revenue data, the Board's 1998-99 annual report includes information on related legislation, significant court decisions, and agency operations.
(Copies of the annual report may be requested by calling 800-400-7115)