PG&E Pays Over $339 Million in Property Taxes to 50 California Counties

Rhea-AI Summary

Pacific Gas and Electric Company (PG&E) announced a property tax payment of over $339 million during the second half of 2022, reflecting a 9% increase from the previous year. This payment supports essential public services and is part of PG&E's ongoing investment to enhance gas and electric infrastructure, particularly for safety and wildfire mitigation. The total property tax payments for the fiscal year are expected to exceed $678 million, up by $57 million compared to last year.

Positive

• 9% increase in property tax payments from the prior year.
• Total property tax payments for the fiscal year expected to exceed $678 million.

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• None.

Semi-annual Payments are 9% Higher Than Prior Year

OAKLAND, Calif., Dec. 28, 2022 /PRNewswire/ -- During the second half of 2022, Pacific Gas and Electric Company (PG&E) paid property taxes of over $339 million to the 50 counties where it owns properties that support gas and electric service to 16 million Californians.

"Property tax payments are just one of the many ways PG&E helps drive our hometown economies and supports essential public services like education, public health and public safety," said Chris Foster, Executive Vice President, and Chief Financial Officer for PG&E. "These payments reflect the substantial local investments we are making in our gas and electric infrastructure to create a safer and more reliable system, and to better mitigate against wildfire risk."

PG&E's payments of more than $339 million covers the period from July 1 to December 31, 2022. Total payments for the fiscal property tax year of July 1, 2022, to, June 30, 2023, will be more than $678 million — an increase of more than $57 million, or 9%, compared with the prior tax year.

The increase in property tax payments reflects 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. In 2022, PG&E and the PG&E Corporation Foundation contributed $25 million to communities throughout Northern and Central California to enhance educational opportunities, preserve the environment, and support economic vitality and emergency preparedness. This included more than $1 million in relief to communities and small businesses for COVID 19 impacts. PG&E employees provide volunteer services 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 by December 12, 2022

• Alameda - $44,111,425
• Alpine - $92,743
• Amador - $1,358,854
• Butte - $7,176,104
• Calaveras - $1,561,514
• Colusa - $4,688,592
• Contra Costa - $26,080,535
• El Dorado - $2,452,003
• Fresno - $22,560,168
• Glenn - $1,162,585
• Humboldt - $5,831,568
• Kern - $12,006,258
• Kings - $1,993,743
• Lake - $1,162,207
• Lassen - $76,494
• Madera - $3,103,658
• Marin - $6,544,632
• Mariposa - $490,689
• Mendocino - $2,655,347
• Merced - $5,252,016
• Modoc - $266,409
• Monterey - $5,479,483
• Napa - $5,158,437
• Nevada - $1,838,800
• Placer - $8,244,424
• Plumas - $3,110,413
• Sacramento - $10,130,645
• San Benito - $1,054,581
• San Bernardino - $2,173,837
• San Diego - $3,870
• San Francisco - $16,484,926
• San Joaquin - $17,252,886
• San Luis Obispo - $7,527,379
• San Mateo - $19,218,876
• Santa Barbara - $1,512,646
• Santa Clara - $43,674,171
• Santa Cruz - $2,643,039
• Shasta - $7,612,999
• Sierra - $172,300
• Siskiyou - $124,214
• Solano - $8,591,176
• Sonoma - $11,254,657
• Stanislaus - $3,499,282
• Sutter - $1,903,727
• Tehama - $1,950,625
• Trinity - $289,032
• Tulare - $704,873
• Tuolumne - $1,158,801
• Yolo - $3,905,974
• Yuba - $1,964,641

          Total payments -- $339,268,256

About PG&E
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE: PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit www.pge.com/ and pge.com/news.

 

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SOURCE Pacific Gas and Electric Company

FAQ

What is the amount of property taxes paid by PG&E for the second half of 2022?

PG&E paid over $339 million in property taxes during the second half of 2022.

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

PG&E's property tax payments increased by 9% compared to the prior year.

What are the total projected property tax payments by PG&E for the fiscal year 2023?

Total projected property tax payments by PG&E for the fiscal year 2023 are expected to exceed $678 million.

What is the purpose of PG&E's property tax payments?

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