HomeMy WebLinkAbout7/22/2009 - STAFF REPORTS - 00 State Budget on
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7/22/2009 State Budget Impact on City of Palm Springs 1
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Estimated Impacts of Proposed
State Budget Agreement -
2-Year . . ..
General Fund Impact: * 2009-2010 2010-2011 Totals
Property Tax (Borrowing):
Secured/Unsecured Property Taxes $1,535,442
Property Tax in lieu of VLF 320,429
Sales Tax Triple Flip 187,839
Total Property Taxes $2,043,710
MUTA Gas Tax (Take) $753,188
Total General Fund Impact $2,796,898 $7681252 $3,565,150
Redevelopment Agency Impact: **
ERAF Transfer (Take) $4,406,900 $1,142,530 $5,549,430
Total Budget Impact $7,203,798 $1,9101782 $9,1141580
* Estimate provided by the League of California Cities
** Estimate provided by the California Redevelopment Association
7/22/2009 State Budget Impact on City of Palm Springs 2