COUNTYWIDE : County Property Tax Revenue Up 12.9%
Ventura County collected $266,682,533 in the first installment of property taxes for the collection period ending Jan. 1, a 12.9% increase over the same period last year.
The increase is due to new construction and to property changing hands and taking on a higher assessed value and therefore a higher tax bill, said John McKinney, assistant treasurer-tax collector.
“One thing we are happy to see is that delinquency did not increase, even though we are in a recession,” he said.
The second and final installment of property tax payments must be paid in person or postmarked by April 10. The tax collector’s office, usually closed on weekends, will be open Saturday, April 6, to receive payments.
First installment payments that were not received by the Dec. 10 deadline now have a 10% penalty attached.
For the 27th year in a row, Southern California Edison is the county’s biggest taxpayer with a bill of more than $7.75 million for the 1990-91 fiscal year. The other biggest taxpayers are GTE California, Shell Oil Co., Texaco, Pacific Bell, Rockwell, Southern California Gas Co., Continental Oil, Procter & Gamble and LSR Limited Partnership.
The top 10 taxpaying companies combined will pay more than $30 million, which is 7% of the county’s property tax charge of more than $427 million.
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