Local assessors and the state Board of Equalization are still compiling final data, but it appears that local governments will see another decline in property tax revenues this year.

The sharp decline in the state's residential and commercial property market resulted in a 2.3 percent decrease in taxable property values last year to $4.4 trillion and preliminary reports from counties indicate another drop in the same neighborhood, or perhaps even more. One county, Calaveras, has already recorded a 12 percent decline, according to the California Taxpayers' Association.

A 2 percent decline translates into a nearly $1 billion drop in property tax revenues to counties, cities, school districts and other local government agencies. Shortfalls to schools must be made up by additional state aid. Property tax rates are fixed at 1 percent of assessed value under Proposition 13, enacted in 1978, plus the amount needed for debt service, about a tenth of 1 percent.

A county-by-county compilation of 2009-2010 property tax data is available here. Numbers for 2010-2011 are due to be finalized within a few weeks.