Chula Vista : State Data and Comparisons : Data-Z

Chula Vista, CA

TIA Data

2023 Financial State of Chula Vista (Released 02/27/2024)

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Chula Vista owes more than it owns.

Chula Vista has a -$600 Taxpayer Burden.™

Chula Vista is a Sinkhole City without enough assets to cover its debt.

Decisions by elected officials have created a Taxpayer Burden™, which is each taxpayer's share of city bills after its available assets have been tapped.

TIA's Taxpayer Burden™ measurement incorporates all assets and liabilities, including retirement obligations.

Chula Vista only has $502.8 million of assets available to pay bills totaling $563.1 million.

Because Chula Vista doesn't have enough money to pay its bills, it has a -$60.4 million financial hole. To erase this shortfall, each Chula Vista taxpayer would have to send -$600 to the city.

Chula Vista's reported net position is inflated by $118.2 million, largely because the city defers recognizing losses incurred when retirement liabilities increase.

The city's financial report was released 181 days after its fiscal year end, which is considered untimely according to the 180 day standard.