PG&E Pays Over $268 Million in Property Taxes to 50 California Counties

Rhea-AI Summary

Pacific Gas and Electric Company (PCG) announced property tax payments exceeding $268 million for the second half of 2020 to 50 counties in California, supporting vital public services and local economies. This sum reflects a 5.5% increase over the previous tax year, totaling over $537 million for the tax year ending June 30, 2021. These payments align with PG&E's ongoing investments in gas and electrical infrastructure aimed at enhancing safety and wildfire mitigation.

Positive

• Property tax payments increased to over $268 million for H2 2020, supporting local economies.
• 5.5% rise in total property tax payments compared to the prior tax year, indicating robust financial contributions.
• Continued infrastructure investments aimed at safety and wildfire mitigation enhance long-term operational reliability.

Negative

• None.

For the second half of 2020, Pacific Gas and Electric Company (PG&E) paid property taxes of over $268 million to the 50 counties where it owns properties that support gas and electric service to 16 million Californians.

“Property tax payments are one of the important ways PG&E helps drive local economies and supports essential public services like education and public safety. This year’s payments reflect the substantial local investments we continue to make in our gas and electric infrastructure to create a safer and more reliable system and to better mitigate against wildfires,” said David Thomason, Vice President, Controller and Chief Financial Officer for PG&E.

PG&E’s payments of more than $268 million covers the period from July 1 to December 31, 2020. Total payments for the tax year of July 1, 2020, to, June 30, 2021, are more than $537 million — an increase of nearly $28 million, or 5.5 percent, compared with the prior tax year.

The increase in property tax payments reflect PG&E’s continuing investments to enhance and upgrade its gas and electrical infrastructure for safety, reliability and wildfire mitigation across Northern and Central California.

PG&E supports the communities it serves in a variety of ways. Last year, PG&E provided $17.5 million in community grants and investments to enhance local educational opportunities, preserve the environment, and support economic vitality and emergency preparedness. PG&E employees provide volunteer service in their local communities. The company also offers a broad spectrum of economic development services to help local businesses grow.

PG&E’s First Installment of Property Taxes Paid on December 10, 2020

• Alameda — $32,404,709
• Alpine — $80,538
• Amador — $1,108,032
• Butte — $ 5,667,359
• Calaveras — $ 1,191,644
• Colusa — $ 4,137,638
• Contra Costa — $ 21,497,366
• El Dorado — $ 1,740,390
• Fresno — $ 18,276,652
• Glenn — $ 1,002,342
• Humboldt — $ 4,106,763
• Kern — $ 9,771,985
• Kings — $ 1,706,582
• Lake — $ 961,632
• Lassen — $ 51,276
• Madera — $ 2,510,612
• Marin — $ 4,750,923
• Mariposa — $ 318,727
• Mendocino — $ 1,824,242
• Merced — $ 3,967,492
• Modoc — $ 214,875
• Monterey — $ 4,022,424
• Napa — $ 3,369,198
• Nevada — $ 1,357,769
• Placer — $ 6,606,295
• Plumas — $ 2,565,430
• Sacramento — $ 7,024,199
• San Benito — $ 877,418
• San Bernardino — $ 1,450,867
• San Diego — $ 6,446
• San Francisco — $ 14,835,825
• San Joaquin — $ 13,167,723
• San Luis Obispo — $ 10,392,451
• San Mateo — $ 15,317,959
• Santa Barbara — $ 1,180,653
• Santa Clara — $ 33,320,405
• Santa Cruz — $ 2,016,295
• Shasta — $ 6,227,812
• Sierra — $ 124,531
• Siskiyou — $ 100,917
• Solano — $ 6,654,033
• Sonoma — $ 8,764,068
• Stanislaus — $ 2,904,283
• Sutter — $ 1,415,569
• Tehama — $ 1,551,202
• Trinity — $ 181,612
• Tulare — $ 610,699
• Tuolumne — $ 910,615
• Yolo — $ 2,917,664
• Yuba — $ 1,474,638

Total payments -- $268,640,779

About PG&E
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is one of the largest combined natural gas and electric energy companies in the United States. Based in San Francisco, with more than 23,000 employees, the company delivers some of the nation’s cleanest energy to nearly 16 million people in Northern and Central California. For more information, visit pge.com and pge.com/news.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201214005660/en/

FAQ

What were PG&E's property tax payments for the second half of 2020?

PG&E paid over $268 million in property taxes to 50 counties in California for the second half of 2020.

How much did PG&E increase its property tax payments compared to the previous year?

PG&E's property tax payments increased by nearly $28 million, or 5.5%, compared to the prior tax year.

What is the total amount PG&E paid in property taxes for the tax year ending June 30, 2021?

For the tax year ending June 30, 2021, PG&E's total property tax payments exceeded $537 million.

How do PG&E's property tax payments impact local economies?

PG&E's property tax payments help drive local economies and support essential public services like education and public safety.