Bruce Gaarder wrote:
I haven't looked recently, but in 1999, it was stated in the financial part of the lrt request to the feds that property tax revenues were 39% of the budget, fares were 36%, and other state funds were 16%, with other sources being 9%. Property taxes certainly aren't unstable.
That may have been true in 1999, but the Ventura tax reform moved public school and public transportation off of property taxes. Public transportation is funded though the general fund and a small share of MVST. Getting general fund money is a year-to-year battle (i.e. it's unstable) and MVST goes up and down with the annual car sales (i.e. it's unstable). It's been well below forecasts for at least the last three years. Lower-than-expected MVST revenues is a big part of the $60 million shortfall for the current biennium.
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